Subclass 188 — Business Innovation and Investment (Provisional)
This visa allows successful business owners to own and manage a new or existing business in Australia. In addition, this visa also allows applicants to invest in an Australian state or territory.
In order to apply for this visa, you need to be either invited to apply by the Minister of Immigration or nominated by a state or territory government.
Business Investor Stream
Applicants must meet both the health requirements and character requirements in order to be eligible for this visa. You must also be invited by the Minister to apply for this visa. Additionally, applicants must also satisfy the requirements in the stream that is selected.
- You are under the age of 55 at the time of the invitation. However, exemptions may apply if you can prove that your business will have exceptional economic benefit to the nominating state or territory.
- You must meet 65 points in the test system where the following will be evaluated: age, English language ability, qualifications, business experience, financial asset and business turnover.
- You have a high level of management skill in relation to the eligible investment or qualifying business activity.
- You have overall had a successful record of eligible investment activity or qualifying business activity.
- You have had a total of at least three (3) years experience of direct involvement in managing one or more qualifying businesses or eligible investments.
- You have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment.
- You and/or your partner for at least one of the five fiscal years before you are invited to apply, have directly managed one of the following:
- Had an ownership interest of at least 10% of the total value of the business
- Have at least AUD1 500 000 in eligible investment owned by you.
- You and/or your partner had a net value of AUD2 250 000 in business and personal assets for the two (2) fiscal years before you are invited to apply for the visa.
- You make a designated investment of at least AUD1 500 000 in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments.
- You have had no involvement in unacceptable activities.