Innovation and Investment Provisional 188 Visa

The Business Innovation and Investment (Provisional) visa (subclass 188) allows individuals to set up and maintain a new or existing business in Australia or to make an investment in Australi.

To migrate under this category, you will first need to submit an Expression of Interest (EOI) through Skill Select and then a nomination from an Australian state or territory government or an Australian agency and an invitation to apply from the Immigration department.

The visa has four streams:

Business Innovation stream is meant for people having business skills and wish to establish, develop and manage a new or existing business in Australia and are nominated by a state or territory government.

The Investor stream allows individuals to make a designated investment of at least AUD1.5million in a state or territory and manage their business and investment activity in Australia. The applicant should have been nominated by a state or territory government.

Significant Investor stream is meant for individuals who are willing to invest at least AUD 5 million into a business in Australia and has a valid nomination from a state or territory or Austrade.

The Premium Investor stream is meant for people or individuals who are ready to make an investment of at least AUD 15 million into a premium investment in an Australian business with an aim to maintain a business & investment activity in Australia. The applicant also needs a nomination from Austrade on the governmentâ€™s behalf.

You should have a nomination by a state or territory government
Invitation to apply through Skill Select
You should be under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit.
Meet the pass mark in the Business Innovation and Investment Points test (currently 65)
Have an overall successful career in business or investment

Business Innovation Stream

For the business innovation stream, you must:

be under 55 years of age
score at least 65 on the points test
for two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500 000 turnover in each of those years
own at least one of the following percentage of your nominated main business:
- 51 per cent, if the business has a turnover of less than AUD400 000 per year
- 30 per cent, if the business has a turnover of AUD400 000 or more per year
- 10 per cent, if the business is a publicly listed company
have an overall successful business career
have a genuine desire to continuously own and maintain a management role in a business in Australia

Investor Stream

This option requires you to have managed investments or owned a business, and to be willing to invest AUD 1.5 million in Australian State or Territory Government bonds. If you are applying for the Investor Stream, the requirements are as follows:

You have had business and personal net assets of at least AUD 2.25 million for the last 2 fiscal years
You must make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa
You have 3 years of experience either managing a qualifying business or “eligible investments”, and have showed a high level of management skill

For at least 1 of the last 5 fiscal years, you have either:

Managed a business in which you hold a 10% shareholding; or
Managed “eligible investments” of at least AUD 1.5 million

“Eligible investments” for the purposes of the Investor Stream include:

Significant Investor Stream

establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government or make and maintain complying investments in Australia
travel in and out of Australia as long as your visa is valid
bring family members with you to Australia
apply for a Business Innovation and Investment (Permanent) visa (subclass 888) & attain permanent residence

GOVERNMENT CHARGES		Notes
Type of visa	1st instalment	2nd instalment Primary applicant has less than functional English	2nd instalment Any dependants (included in application) 18 years or over, with less than functional English
Business Talent (Permanent)	$5,940	$8,520	$4,250
Business Innovation andInvestment (Provisional)	New $4,065 Extension $500	$8,520	$4,250
Business Innovation and Investment (Permanent)	$1,960	Nil	$4,250 9a
Business Owner (Residence)	$1, 895	Nil	$4,250 9a
State/Territory Sponsored Business Owner (Residence)	$1, 895	Nil	$4,250 9a
Investor (Residence)	$1, 895	Nil	$4,250 9a
State/Territory Sponsored Investor (Residence)	$1, 895	Nil	$4,250 9a
OTHER COSTS (If Applicable)		Notes
Medical Examination	Variable (Depending upon the type of Medical Test and Examination required)	This fee is payable for each person included in your application and must be paid directly to the doctor conducting your examination.
Character Clearance (Police Check)	Variable	This fee is payable to the police authorities in the countries where you have lived for 12 months or more.
Certification/Translation of Documents	Variable	Payable to Translator
OUR FEE IN AUD		Notes
Visas Simply Fees		AU$ 14950

Innovation & Investment Visa (188)

Innovation and Investment Provisional 188 Visa

Business Innovation Stream

Investor Stream

Significant Investor Stream