What is a Business Innovation and Investment (Provisional) Visa (Subclass 188)?
Work and live in Australia with the Business Innovation and Investment (Provisional) Visa (Subclass 188). This visa allows you to own and manage a new or existing business in Australia, or to invest in Australia. You must be nominated by a state or territory government or Australian agency to be eligible to apply.
What are the benefits of a Skilled Independent Work Visa (Subclass 189)?
The benefits of the Business Innovation and Investment (Provisional) Visa (Subclass 188) include:
- The right to establish a new or develop an existing business, or to invest in Australia
- Unlimited travel in and out of Australia
- Bring family members with you to Australia
- Opportunity to apply for Australian citizenship
- The opportunity to apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888)
How can I apply for a Business Innovation and Investment (Provisional) Visa (Subclass 188)?
Step 1: Check if you meet the all the visa requirements
You must meet both the general requirements of the Subclass 188 visa AND the specific requirements of the stream under which you are applying. The Subclass 188 visa allows you to apply under one of four streams:
- Business Innovation Stream: For individuals who wish to establish, develop and manage a new or existing business in Australia. Requires nomination by state or territory government.
- Investor Stream: For individuals who wish to make a designated investment of at least AUD 1.5 million in an Australian state or territory and maintain business and investment activity in Australia. Requires nomination by state or territory government.
- Significant Investor Stream: For individuals who wish to invest at least AUD 5 million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Requires nomination by state or territory government.
- Premium Investor Stream: For individuals who wish to invest at least AUD 15 million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Requires nomination by state or territory government.
Step 2: Submit an Expression of Interest (EOI) and be invited through SkillSelect to apply
Before you can submit an application for the Subclass 188 visa, you must submitted an EOI and then be invited to apply through SkillSelect. Submitting an EOI allows these state or territory governments (or the Australian government where possible) to examine your business claims and decide whether or not to nominate you.
Once you are nominated, you will be invited to apply for the Subclass 188 visa through Skillselect. After receiving an invitation, you will have 60 days to apply online for the visa.
Information about nomination requirements, business and employment in various states and territories is available on their websites:
- Austrade
- Australian Capital Territory
- New South Wales
- Northern Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
Information about state and territory treasury corporations offering designated investments for the Investor stream is available on their websites:
Step 3: Prepare Your Documents
The Subclass 188 Visa requires you submit several documents with you application, in order to prove the claims made. The documents are listed in the Document Checklist.
Step 4: Lodge Your Application Online
The Business Talent (Permanent) Visa (Subclass 132) visa requires you to apply online. When you apply, you must have all documents ready as well as the visa application fee, which can be paid by credit card.
Step 5: Wait for a decision
It can take several months for the DHA to make a decision on your visa application.
Step 6: Receive your visa and start working
Once your application is approved, you will receive your visa and can start working in Australia.