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Australia 188 Business Investment Visa: The Comprehensive Checklist


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The Business Innovation and Investment (Provisional) Visa, also known as Australia 188 visa, permits you to own and manage a business in Australia, as well as engage in business and investment activities. Innovators and investors who intend to develop and run a business in Australia can apply for this visa. 

Other global business investment visas:

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The Australia 188 Business Investment visa comprises five streams:

1. Business Innovation Stream

  • Individuals interested in establishing, growing and managing a new or existing business in Australia.

2. Investor Stream

  • Individuals who seek to make a designated investment of at least AUD 2.5 million in an Australian state or territory and to continue conducting business and investing in Australia.

3. Significant Investor Stream

  • Individuals who seek to invest a minimum of AUD 5 million in compliant major assets in Australia and wish to maintain business and investment activity in the country.

4. Premium Investor Stream

  • Individuals want to invest a minimum of AUD 15 million in compliant premium assets in Australia and wish to maintain business and investment activity in the country.

5. Entrepreneur Stream

  • For startup and early-stage entrepreneurs who have been endorsed to develop their concepts.

Additional Note:

  • For ALL the streams in Australia 188 visas require nomination by the state or territory government.
  • All the streams can let the applicants stay up to 5 years, except Premium Investor Stream for 4 years and 3 months.
  • For the Business Innovation Stream, you may seek for a two-year extension under this extension scheme.
  • Individuals that apply through the Significant Investor Stream are eligible for up to four-year extensions.

Benefits of Australia 188 visa

This visa aims to promote permanent residence in Australia by supporting the formation and management of innovative businesses. The Australia 188 visa is the first step toward eligibility for a permanent Business Innovation and Investment visa (Subclass 888).

Possessing the Australia 188 visa entitles you to the following benefits:

  1. Establish a new business or expand an existing one in Australia, and/or invest.
  2. Make a targeted investment with an Australian State or Territory government.
  3. Conduct and manage compliant investment activities in Australia.
  4. Travel within and outside of Australia throughout the duration of the visa’s validity.
  5. Establish your family members’ residency in Australia
  6. Become qualified to apply for the Business Innovation and Investment (Permanent) visa in order to obtain permanent residence (subclass 888).

In addition, this visa allows you to include your family member (your spouse or live-in partner, your children and other members of the family) to be included together during the application for this visa. However, the family members must meet all eligibility, health, and character requirements that may be prescribed and must provide documentary evidence of their relationship with the applicant.

Australia 188 Visa Eligibility

General requirements:

  • Under 55 years old
  • You must be nominated for the visa by an Australian State or Territory Government.
  • You must be invited to apply for the visa.
  • Score at least 65 on the points test
  • Reach all the requirement (Functional English, Health requirement, Not have had a visa cancelled or a previous application refused,)
  • Show the police certification for applicants and/or dependents
Australia 188 visa under investor stream is suitable for those owning a business and making an investment of at least AUD2.5 million. | immiDaily Asia
Australia 188 visa under investor stream is suitable for those owning a business and making an investment of at least AUD2.5 million. | immiDaily Asia

Business Innovation stream

  • You must own a successful business career and sincerely want to own one as well in Australia.
  • Have business ownership stake in 1or 2 business that had at least 
    • AUD750,000 turnover in each of those 2 years if you were invited to apply on or after July 1, 2021 (AUD500,000 for before July 1, 2021)
  • You must own at least;
    • 51% of the business value for turnover rate of <AUD400,000 per year, or
    • 30% of the business value for turnover rate of ≥ AUD400,000 per year, or
    • 10% of the business value for operation under publicly listed company
  • Own personal and business assets which either you and/or your partner combine/alone have total net business and personal assets of at least AUD 1.25 million if you were invited to apply on or after July 1, 2021 (AUD800,000 before July 1, 2021)

Investor Stream (Invest AUD2.5 million)

  • Own and manage business and personal assets and investments for at least 1 of the 5 fiscal years immediately and managed to have at least one of the criteria:
    • a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or 
    • a eligible investment:
      • Of at least AUD 2.5 million owned by you, your partner, or you and your partner combined, if invited on or after 1 July 2021.
      • Of at least AUD 1.5 million owned by you, your partner, or you and your partner combined, if invited before 1 July 2021.
  • Own personal and business assets which either you and/or your partner combine/alone have total net business and personal assets of at least AUD 2.5 million if you were invited to apply on or after 1 July 2021 (AUD1.5 million before 1 July 2021)
  • Invest in Australia of at least AUD 2.5million according to each of the proportions:
    • at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
    • at least AUD750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
    • a ‘balancing investment’ of at least AUD1.25 million in managed fund
  • Have at least 3 years experience, record of eligible and high level of management skill in relation to managing one or more qualifying business or eligible investment
  • Intend to live in a specific State or Territory

Significant Investor Stream (Invest AUD5 million)

  • Application on or after July 1, 2021
    • at least AUD1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
    • at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
    • a ‘balancing investment’ of at least AUD2.5 million in managed funds
  • Application before July 1, 2021
    • at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
    • at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
    • a ‘balancing investment’ of at least AUD3 million in managed funds
  • No history of involvement in unacceptable activities

Premium Investor Stream (Invest AUD15 million)

  • Have net assets of at least AUD15 million
  • Invest at least AUD15 million in any of the following options:
    • Australian securities exhange listed assets
    • Government bonds, corporate bonds or notes
    • Australian propriety limited companies
    • Real estates in Australia
    • Deferred annuities
  • No history of involvement in unacceptable activities
  • Not to bring action against the Commonwealth if any loss of your investment

Entrepreneur stream

  • Have a complying entrepreneur activity in Australia:
    • the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia
    • must not relate to residential real estate, labour hire and purchase of an existing enterprise or a franchise in Australia
  • Endorsed by a recognized body depending on the provinces for application on or after July 1, 2021 (or receive funding of at least AUD200,000 from an approved entity before July 1, 2021). Full lists can be viewed here.
  • No history of involvement in unacceptable activities
person walking holding brown leather bag
Under the entrepreneur stream, you have to seek funding supporters for helping to expand your business in Australia. | immiDaily Asia

Application Procedure

  1. Use the online service, SkillSelect to submit an Expression of Interest (EOI) as well as all required information regarding your stream
    • Then, the EOI must specify the stream you intend to apply under and whether you wish to do business or make investments in more than one Australian state or territory
    • If your EOI meets the eligibility criteria of the relevant state/territory authorities, you will receive an invitation to apply for the Australia 188 visa.
  2. Invitations are issued twice a month. You must apply online for the visa within 60 days of receiving the invitation.
    • If you allow two invitations to lapse without applying for the visa, you will have to submit a new EOI.
  3. Submit all necessary documents related to:
    • Identity
    • Relationships
    • Children
    • Character
    • English Language Proficiency
    • Business and investment proof subject to your applies stream. For example:
      • Net value of business,
      • Evidence of business ownership,
      • Evidence of participation in day-to-day management,
      • Proof of net assets,
      • Evidence of investment activity
      • Ownership of qualifying business or eligible investments
      • Source of funds
      • Proof of assets to be used for making complying investments,
      • Documentation of business turnover
      • Proof of investment experience and innovation
  4. Submit your application online
    • Make the designated or complying investment when invited if you have applied under the Investor Stream, Significant Investor Stream, or Premium Investor Stream.

Consult directly with immiDaily

If you find the application procedures to be complicated or do not understand the eligibility of each stream, contact us now by filling up this form or just WhatsApp us. We will attend to you as soon as possible with our professional advice.

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