Application Process
Anyone who wishes to apply for this visa MUST first be nominated by an Australian State or Territory or Austrade (Premium Investor stream applicants may only be nominated by Austrade) AND then be invited to lodge an application by the Department of Immigration and Border Protection (DIBP).
In order to qualify for State/Territory or Austrade nomination and an invitation to apply for this visa, you must lodge an ‘Expression of Interest’ (EOI), which sets out how you meet the relevant requirements.
How we can help
EmblemConsult can advise on your eligibility for the visa and the visa requirements and assist with all stages of your Business Innovation and Investment visa application to the Australian government as well as your application to transition to permanent residency.
The first step that we will take is to conduct an initial assessment of your eligibility for this visa. This involves reviewing your personal circumstances (including experience, qualifications, English language and net assets), as well as the details of your business(es) and/or investments, to establish whether or not you are likely to meet the relevant requirements of one of the above streams.
We will then provide you with informed and comprehensive advice about your ability to meet the minimum standards (including State/Territory or Austrade nomination) that the DIBP requires migrants to fulfil in order to qualify for an invitation to apply for this visa.
For a confidential personalised information session please contact us
Business Innovation & Investment Visa Subclass 188
What is a Business Innovation & Investment Visa Subclass 188?
The provisional Business Innovation & Investment visa provides a pathway to permanent residency for business people who want to own and manage a business in Australia, or make an investment here. If you wish to apply for this visa, which is valid for up to four years, you must first lodge an Expression of Interest. If this is successful, and you are nominated by a State or Territory, you will be invited to lodge an application for this visa.
There are FOUR different streams under which an applicant may qualify for this visa:
BUSINESS INNOVATION STREAM
For applicants who have had a successful business career, and wish to own and manage a new or existing business in Australia.
Applicant
At the time that you are invited to apply for this visa, you must:
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be under 55 years of age
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genuinely wish to own, and maintain a major management role in, a business in Australia
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score at least 65 on the innovation points test (which takes into account your age, English competency, qualifications, experience, turnover and assets, amongst other factors)
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be nominated by an Australian State or Territory government agency
Business Experience
At the time that you are invited to apply for this visa:
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you must have had a successful business career, with no involvement in unacceptable business activities
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you must have managed a business in which you spent less than half of your time carrying out professional, trade or technical services
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in at least two out of the last four financial years, your main business(es) must have had an annual turnover of at least AUD 500,000 in each of those years
Net Assets
You (and/or your spouse or de facto partner, if applicable) must have total net business and personal assets of at least AUD 800,000 that can be legally transferred to Australia within two years of the date that your visa is granted.
For applicants who have experience in managing a business or investments, and wish to make a designated investment in Australia for at least 4 years.
Applicant
At the time that you are invited to apply for this visa, you must:
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be under 55 years of age
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score at least 65 on the innovation points test (which takes into account your age, English competency, qualifications, experience, turnover and assets, amongst other factors)
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be nominated by an Australian State or Territory government agency, and genuinely intend to live for at least two years in that State or Territory
Net Assets
During the two financial years immediately before you are invited to apply, you (or you and your spouse or de facto partner, if applicable) must have net business, investment and personal assets with a net value of at least AUD 2.25 million. These assets must have been legally acquired, and must be available for legal transfer to Australia within two years of the date that your visa is granted.
If applying under the Investor stream, you must invest at least AUD 1.5 million in an approved government security in the State or Territory that nominated your application.
If applying under the Significant Investor stream, you must invest at least AUD 5 million in the relevant government bonds, managed funds or Australian company approved by the nominating State or Territory (or Austrade). This investment must be funded using the assets evidenced in your application.
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you (or you and your spouse/de facto partner, if applicable) must not have been involved in unacceptable business or investment activities
For applicants who are willing to invest at least AUD 15 million in a complying premium investment in Australia for at least 4 years and 3 months (excepting philanthropic contributions), and who are nominated by Austrade on behalf of the Australian Government. No age limit, points test or English requirement applies. There are no residence requirements for this visa, which provides a fast track to permanent residency.
Your complying premium investment may comprise one or more investments, one or more philanthropic donations or a combination of both. You may hold investments in each of the above options, and you may also change between complying premium investments, as long as you meet the reinvestment requirements.