Business Innovation and Investment (Provisional) Visa (Subclass 188)
Australian Business Innovation & Investment Subclass 188 visas for those business owners and investors who want to established existing business in Australia.
The Business Innovation and Investment visa (Subclass 188) is a temporary visa for applicants who want to own or manage a new or existing business in Australia. It also serves as a first step towards being eligible for a permanent Business Skills visa.
Common Criteria
To be eligible for 188 visa, you must:
- Be under 55 years of age
- Be nominated by Australian state or territory government
- Submit an Expression of Interest and be invited to apply from Department of Home Affairs
- Have health examinations done within 12 months of applying for the visa
- Have police certificate from each country lived in for 12 months or more of past 10 years to demonstrate character history
- Sign an Australian Values Statement (if the age is 18 or older)
- Be free from any outstanding debts to the Australian government
Visa Benefits
- Travel In And Out Of Australia Till The Visa Is Valid
- Bring Eligible Family Members To Australia
- Be Eligible For Permanent Residency By Applying For A Business Innovation and Investment (Permanent) Visa (Subclass 888)
Visa Streams
Business Innovation Stream
The Business Talent Visa (Subclass 132) is a permanent resident visa for those who are willing to establish or develop a new or existing business in Australia. It requires the applicants to have sufficient funds and genuine intention to reside in a particular Australian state or territory.
- Have age less than 55 years
- Scored at least 65 on the point test
- Have a genuine desire to undertake a management role in a business in Australia
- Have total net business and personal assets of at least AUD 800,000 available for legal transfer to Australia
- Have had ownership interest in an established business or business with AUD500000 turnover for at least 2 out of the 4 fiscal years (at the time of invitation to apply for visa)
- Own at least either of the following percentage of nominated main business:
- 51% if the business has a turnover of less than AUD 400,000 per year
- 30% if the business has a turnover of AUD 400,000 or more
- 10% if the business is a publicly listed company
- Maintain a substantial ownership interest into an Australian business
- Take charge, at senior level, in daily management and decision making of business
Must be responsible for any of the following things:
- Introducing new or enhanced technology
- Maintain employment in Australia
- Develop associations with international markets
- Export Australian goods
- Produce goods or services
- Make contribution in commercial activity or competitiveness within the Australian economy
You can also extend your stay for another 2 years under the business innovation extension stream. However, you must:
- Hold a visa in the Business Innovation stream for at least 3 years
- Be able to demonstrate the need to extend your stay in Australia to operate a business
- Have a current nomination from a state or territory government agency
- Have actively maintained an ownership interest in the nominated business for at least 2 years
- Fulfilled commitment of being directly involved in regular management and decision-making of the business
Seeking comprehensive assessment of your eligibility to apply for the visa under this stream, give us a buzz today to know the best way of proceeding with your application.
Investor Stream
- Be under 55 years of age (this requirement can be waived if the proposed investment provides outstanding economic benefit to the nominating state or territory).
- Achieve at least 65 in the point-test
- Possess a high level of management skills to undertake a qualifying business activity
- Be committed to continue business and investment in Australia once the original investment is matured
- Have a genuine intention to stay for at least 2 years in the state or territory under which the designated investment has been made
- Have been involved directly for at least 3 years in managing one or more qualifying businesses or eligible investments
- Have a combined ownership interest (with your partner) of at least 10% in a qualifying business OR eligible investment of at least AUD 1.5 million owned by you for at least one of the five fiscal years
- Make a designated investment of at least AUD 1.5 million in a state or territory government for at least 4 years from the date of issue
- Have legally attained investment, net business and personal assets of at least AUD 2.25 million for legal transfer to Australia within two years of visa being granted
- Have had no participation or association with unacceptable activities in Australia
Significant Investor
Australian Significant Business History Stream (Subclass 132) attract business owners who have good business history & want to start a business in Australia.
- Stay in the nominated state or territory
- Maintain your business and investment activity in Australia even after the validity of your provisional visa is expired
- You, your partner or both have net assets of at least AUD5 million that are acquired legally and available for use to make the complying investment in Australia
- You must not have been associated or involved in deplorable business or investment activities
- You and all the dependent members of your family unit (above years 18 age) must provide assurance of not plunging into any action against the Commonwealth in case any loss happens concerning to the complying investment
- All the income earned from the complying investment in Australia must be subjected to tax under Australian taxation law
- Your complying investment or a complying significant investment must be of at least AUD 5 million over four years
- Your complying significant investment should be in the following proportions:
- At least AUD500, 000 in venture capital and growth private equity funds, which make investment in start-ups and small private companies
- At least AUD1.5 million in approved managed funds that invest in emerging companies listed on the Australian Stock Exchange
- At least AUD3 million in managed funds that invest in a range of assets including ASX listed companies or Australian corporate bonds, commercial real estate and annuities
Note: Investment must not be used as security or collateral for a loan. Also, there should not be direct investment in residential real estate and the indirect investment through managed funds in the same should be in a limited amount.
Extending the Stay
- Hold a visa in the significant investor stream for at least 3 years or Not have held more than one visa in the significant investor stream
- Be nominated by a state or territory agency
- Be genuinely intended to live in the nominated state or territory
- Have maintained the complying investment or complying significant investment consistently in compliance with the investment framework
- You and all the dependant family members (aged 18 years or above) must sign Form 1412 that acknowledges of undertaking responsibility for financial and legal affairs and not incur any liability to the Australian government
- You must also ensure that the company was operating a qualifying business for the entire duration in case the period of direct involvement was less than 2 years. If that period is more than 2 years, you must ensure that the company possessed a qualifying business for at least 2 years.
Premium Investor Stream
The premium investor stream is followed by the nomination of Australian Trade and Investment Commission or Austrade on behalf of the Australian government only.
To be eligible for 188 visa under this stream, You must make a complying investment of at least AUD15 million in any of the following options:
- Australian government or semi-government bond or notes
- Australian proprietary limited companies
- Possess a high level of management skills to undertake a qualifying business activity
- Australian securities exchange listed assets
- State or territory approved philanthropic contribution
- Deferred annuities issued by Australian registered life companies
- Australian exchange listed entity issued corporate bonds or the investment grated rated bonds by an AFS licensed debt rating agency
- All the income earned from the complying investment in Australia must be subjected to tax under Australian taxation law
- You must have a genuine intention to continue business and investment activity in Australia after the validity of your 188 visa expires.
- You, your partner or both combined must have a combined net assets of at least AUD15 million that are lawfully acquired and available to use to make the complying investment in Australia
- You and your partner must not have found in unacceptable business or investment activities
- You and your partner along with the dependant family members (aged 18) must provide assurance of not bringing any action against the Commonwealth for any loss with reference to the complying investment
Entrepreneur Stream
- Age less than 55 years (unless your complying entrepreneur activity is of exceptional economic benefit to the nominating state or territory)
- Evidence of competent English at the time of invitation for visa
- A genuine intention of undertaking a complying entrepreneur activity in Australia
- Your complying entrepreneur activity must not be related to residential real estate, labour hire or purchasing an existing enterprise or a franchise in Australia
- One or more legally enforceable agreement of funding worth at least AUD 200,000 from any of the following entities
- Publicly Funded Research Organisation
- State or Territory Government
- Commonwealth Government Agency
- Registered investor with Early State Venture Capital Limited Partnership or an Australian Venture Capital Limited Partnership
- Specified Higher Education Provider
- An agreement demonstrating of paying at least 10% funds to the entrepreneurial entity within 12 months of activity undertaken in Australia
- At least 30% of interest in entrepreneurial entity at the time of entering into the agreement
- A valid plan or innovative idea of leading commercialisation of a product or service or the development of enterprise in Australia
- Maintain an ongoing relationship with the nominating state or territory government
Visa Class
Business Visa
Australian Business visa program provides potential immigrants an opportunity of either investing, establishing or managing business in Australia….
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FAQs About Temporary Work (Short Stay Specialist) Subclass 400 Visa
The Temporary Activity Visa (Subclass 400) is a type of visa that allows individuals to visit Australia for a temporary period to participate in specific activities, such as short-term work, cultural or sporting events, and other non-ongoing activities.
The Subclass 400 visa is available to individuals who are invited or required to participate in a specific short-term activity in Australia, such as skilled work, research, or an event, and meet the necessary health and character requirements.
The duration of your stay on a Subclass 400 visa depends on the purpose of your visit and the specific activities you will engage in. It can vary from a few days to a few months, as specified in your visa grant.
Generally, the Subclass 400 visa is granted for the duration required to complete the intended activity. Extensions are limited and granted only in exceptional circumstances.
Yes, you can work in Australia if the purpose of your visit requires you to undertake short-term, non-ongoing work. However, you cannot work for more than 6 months under this visa subclass.
To apply for a Subclass 400 visa, you need to submit an online application through the Australian immigration website. You will need to provide necessary documentation, including details about the activity, your passport, health insurance, and other supporting documents.
Processing times for the Subclass 400 visa can vary based on individual circumstances, the completeness of your application, and other factors. It’s recommended to apply well in advance of your intended travel dates.
Yes, health insurance is a mandatory requirement for all Subclass 400 visa holders. You must have adequate health insurance coverage for the duration of your stay in Australia.
Family members cannot be included in a Subclass 400 visa application. They will need to apply for their own appropriate visa if they wish to accompany you to Australia.
A limited study may be allowed if it is directly related to the purpose of your visit. However, if your main purpose is to study, you should consider applying for a different visa subclass designed for studying in Australia.
The cost starts from AUD 405 (except in limited circumstances). The cost of a Subclass 400 visa application varies depending on factors such as the purpose of your visit and your country of origin. It’s best to check the current visa application charges on the official Australian immigration website.
Yes, you can travel in and out of Australia multiple times on a Subclass 400 visa, as long as it is within the validity period of your visa.
There is no strict limit to the number of times you can apply for a Subclass 400 visa. However, it’s important to demonstrate genuine temporary-stay intentions each time you apply to avoid potential issues.
The Subclass 400 visa is a temporary visa and does not directly lead to permanent residency. If you are interested in pursuing permanent residency in Australia, you should explore other visa options that align with your long-term goals. Get in touch with us to know more about other visa options.
