Business Innovation and Investment (provisional) visa (subclass 188)

Business Innovation and Investment (Provisional) Visa

Subclass 188

Basic Eligibility

  • Submit expression of interest (EOI) in SkillSelect
  • Nominated by a State or Territory government agency or Austrade 
  • Invited to apply for the visa

 Business Innovation Stream:

This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.

    This visa permits you: –

  • operate a new or existing business in Australia
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Business Innovation Stream.

 Eligibility Criteria: –

  •  score at least 65 on the points test 
  • provide proof of your business success (annual turnover, ownership stake)
  • You, your partner, or you and your partner together, have total net business and personal assets of at least AUD800,000

Investor Stream:

This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia.

This visa permits you: –

  • carry out business and investment activity in Australia
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Investor  Stream if certain requirements are met.

Eligibility Criteria: –

  • make an investment of AUD1.5 million in an Australian State or Territory
  • score at least 65 on the points test
  • have net business, investment and personal assets of at least AUD2.25 million

Significant Investor Stream:

This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.

This visa permits you: –

  • carry out investment activity in Australia
  • apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Significant Investor  Stream if certain requirements are met.

Eligibility Criteria: –

  • be invited to apply for this visa
  • be nominated by a State or Territory government agency or Austrade to invest at least  AUD5 million that meets certain requirements and have a true intention to hold that investment for at least for 4 years
  • Have a genuine intention to live in the State or Territory whose government agency nominates you.

Business Innovation Extension Stream:

This provisional visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream extend their stay in Australia for 2 more years, or up to 4 more years if COVID-19 concessions apply.

This visa permits you: –

  • carry out business(new or existing) in Australia
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Business Innovation Stream if certain requirements are met.

Eligibility Criteria: –

  • hold, or in certain cases must have held a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream
  • hold, or in certain cases must have held a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream
  • have held the Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream for at least 3 years
  • not have held more than one Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream visa
  • be nominated by a State or Territory government agency.

Significant Investor Extension Stream

  • This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders extend their stay in Australia for up to 4 more years.

This visa permits you: –

  • carry out investment activity in Australia
  • apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Significant Investor Stream if certain requirements are met.

Eligibility Criteria: –

  • hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream and have held that visa for at least 3 years; or
  • hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream and not have held more than one of these visas
  • be nominated by a State or Territory government agency or Austrade

Premium Investor Stream:

This provisional visa is for people who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.

This visa permits you: –

  • carry out business and investment activity in Australia.
  • stay in Australia for up to 4 years and 3 months.
  • apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Premium Investor Stream if certain requirements are met.

Eligibility Criteria: –

  • be nominated by Austrade 
  • be invited to apply for this visa
  • invest at least  AUD15 million in Australian investments and/or philanthropic contributions that meet certain requirements 
  • have a genuine intention to hold the investment for the whole period of the visa (except any part of the investment that is a philanthropic contribution)

Entrepreneur stream:

This provisional visa lets you carry out entrepreneurial activities in Australia.

This visa permits you: –

  • carry out entrepreneurial activity in Australia.
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Entrepreneur Stream if certain requirements are met.

Eligibility Criteria: –

  • undertake, or propose to undertake, a complying entrepreneur activity in Australia
  • have a funding agreement of at least AUD200,000 to carry out entrepreneurial activity in Australia
  • show us a business plan for your entrepreneurial activity
  • have at least competent English. 
Visa typeDescriptionDurationCostProcessing time
Business Innovation StreamIt is for people with business skills. It lets you operate a new or existing business in Australia.Up to 4 years and 3 months.From AUD5,375There are no standard processing times available for this stream.
Investor StreamThis provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia.4 years and 3 months.From AUD5,375There are no standard processing times available for this stream.
Significant Investor StreamThis provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia. Up to 4 years and 3 monthsFrom AUD7,880  There are no standard processing times available for this stream.
Business Innovation Extension StreamThis provisional visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream extend their stay in Australia for 2 more years, or up to 4 more years if COVID-19 concessions apply.6 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream that you held at the time of application;  or  8 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream if the visa that you held at the time of application was a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream and COVID-19 concessions applyFrom AUD645There are no standard processing times available for this stream.
Significant Investor Extension StreamThis provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders extend their stay in Australia for up to 4 more years.Extend stay for up to 4 years From AUD645There are no standard processing times available for this stream.
Premium Investor StreamThis provisional visa is for people who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.4 years and 3 monthsFrom AUD9,455There are no standard processing times available for this stream.                           
Entrepreneur streamThis provisional visa lets you carry out entrepreneurial activities in Australia.4 years and 3 monthsFrom AUD4,045Unavailable due to low volume of applications

Book an Appointment: –

  • We at BANSAL Immigration consultants offer the much needed help so as to convince the Australian Immigration authorities about your actual intention to stay and work in Australia.
  • We do everything possible to present you as a true candidate and that you will adhere to all rules and commitments during your stay in Australia.
  •  Also, we will assure that your interview round goes well, which is yet another growing step to get this Subclass visa in Australia.

****How can we assist you? Please call our number mentioned on the website.

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