Business Innovation and Investment Visa 188
188 Visa Australia
Business Innovation and Investment (Provisional)
This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.
Stay: Up to 4 years and 3 months.
Processing times: There are no standard processing times available for this stream.
- you must score at least 65 on the points test
- you must provide proof of your business success (annual turnover, ownership stake)
- you, your partner, or you and your partner together must have total net business and personal assets of at least AUD800,000
With this visa, you can…
- 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
You must
- 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
With this visa, you can
- operate a new or existing business in Australia
- stay in Australia for up to 4 years and 3 months
- 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.
How long you can stay
This is a provisional visa. You can stay in Australia for up to 4 years and 3 months. If you applied before 1 July 2015, you can stay up to 4 years.
The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid.
The visa starts on the date we grant it.
Stay longer
This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met. Explore your visa options.
If you applied for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream prior to 1 July 2015, you will be eligible to apply for a subclass 888 permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream after 3 years and 11 months.
If you need more time to apply for permanent residence, you can apply for a new Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Business Innovation Extension stream. If granted, you will be able to travel to, enter and remain in Australia for 6 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream. You can only extend it once you apply for and be granted this visa once.
Include family
You can include members of the family unit in your application when you apply. You can also add dependent children to your application at any time before we decide on your application.
Family members who apply for the visa must meet our health and character requirements.
In order for the primary applicant to be granted the visa, family members who are not coming to Australia must meet our character requirements, and might have to meet our health requirements.
Apply from
You can be in or outside Australia when you apply for the visa and when we decide on your application, but not in immigration clearance.
Processing times
There are no standard processing times available for this stream.
Your application might take longer to process if:
- you do not complete the form correctly
- you do not include all the documents we need or we need more information from you
- it takes us time to verify your information
We can’t process your application if you do not pay the correct visa application charge. We will notify you if this is the case and if necessary return your application.
Your obligations
You and your family members who are part of your application must comply with all visa conditions and Australian laws.
You must also meet certain business obligations and obey Australian workplace laws.
Meet your business obligations
While the holder of this visa, you must:
- have a substantial ownership stake in a business in Australia
- take part in its day-to-day management, at a senior level
In the business, you must do at least one of these things:
- add to commercial activity and competitiveness within the Australian economy
- develop business links with international markets
- employ people in Australia
- export Australian goods
- introduce new or improved technology, or
- produce goods or services that Australia would otherwise import
Follow Australian workplace laws
All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.
You must meet workplace laws when operating your business in Australia. The Pay and Conditions Tool (PACT) can help you with:
- pay rates
- shift calculations
- leave arrangements and notice
- redundancy entitlements
Adequate health insurance
We recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia. Insurance can help limit your financial liability.
Reciprocal healthcare agreements
Some countries have a reciprocal healthcare agreement with Australia. Find out more from Services Australia about reciprocal healthcare agreements.
Travel
You can travel outside Australia and return as many times as you want while the visa is valid.
The time you spend outside Australia does not extend the visa.
Visa label
Australian visas are digital.
We do not put a visa label in your passport. Instead, we link your digital visa record to your passport.
Be nominated
You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa.
The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa.
Have business ownership
For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least AUD500,000 turnover in each of those 2 years.
Whether you have 1 or 2 businesses, you must own at least:
- 51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year
- 30%, of the total value of the business if the business has a turnover of AUD400,000 or more per year, or
- 10%, of the total value of the business if the business is operated by a publicly listed company
If your business provides professional, technical or trade services, you must have spent less than half your time providing those services, rather than general management of the business.
Own personal and business assets of at least AUD800,000
When you are invited to apply for this visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800,000. Your funds must be available to transfer to Australia within 2 years of us granting the visa.
Score at least 65 on the points test
You must score at least 65 points on the points test.
You can get points for many reasons, including your:
- age
- English language ability
- qualifications
- business experience
- net personal and business assets
- business turnover
- innovation
- special endorsement
Have a successful business career
You must have a successful business career and a genuine desire to continuously own and manage a business in Australia.
Be under 55
You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa. If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit.
Not have a history of involvement in unacceptable activities
You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia
Have functional English
All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge.
Meet our health requirement
You and any family members who apply for the visa with you must meet our health requirement.
Family members who are not coming to Australia might also meet our health requirement.
Meet our character requirement
You and family members aged 16 years and over who apply for the visa with you must meet our character requirement.
Family members who are not coming to Australia must also have to meet our meet our character requirement.
Sign the Australian values statement
If you and your family members who have applied for the visa are 18 years of age or older at the time of application, you and your family members must:
- have read, or had explained to you, the Life in Australia book
- sign an Australian Values Statement that confirms you will respect the Australian way of life and obey Australian laws
Have no debt to the Australian Government
If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back.
Not have had a visa cancelled or a previous application refused
You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.
Read And Associates offer Professional Guidance
Here at Read and Associates our team of migration agents can provide you with the appropriate guidance and advice which will help you put forth the best visa application possible. Specialising in applications for medical professionals, we would welcome the opportunity to discuss how we can work with you. Book a consultation to find out more.
