Australia welcomes overseas investors, business visa applicants, potential franchisees, Franchisors, and other expats. The country’s economy is maintained by an exciting and varied business community. Down under is the perfect destination to set up a business.
The Business Innovation and Investment (Provisional) visa (subclass 188) is portion of the Business Innovation and Investment Program. Applicant should submit an Expression of Interest (EOI) via SkillSelect and be nominated by a territory or state government or Austrade in support of the Australian government prior to being invited to apply for this visa.
The visa includes four streams:
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
- Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
- Significant Investor stream: for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
- Premium Investor stream: for people who are willing to invest at least AUD15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).
Fee:
Product Quantity Price
EB188 Business Innovation & Invest (Prov) 1 14,780.00 GST0.00
Total AUD 4,780.00
Requirements
In order to apply for this visa, applicants need to meet the following requirements
- Must be nominated by a territory or state government or Austrade in aid of the Australian government
- Must be invited to apply
- Must meet health and character requirements
- Must meet the extra requirements for the stream in which they apply
What you can do on this visa
- Set-up a new or develop the existing business or invest in Australia, make a selected investment with an Australian territory or state government or make and sustain complying investments in Australia
- Travel to and from Australia for the life of your visa
- Family members can accompany main applicant in Australia
- Seek PR by applying for a Business Innovation and Investment (Permanent) visa (subclass 888)
