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188 Business Visa (Provisional)

188 Business Innovation and Investment Visa (Provisional)

visa-stamp-02This visa is for successful business owners or investors from overseas who are willing invest in new or existing business in Australia or make designated investment in Australia State or Territory government bonds. You must submit an Expression of Interest (EOI) through SkillSelect and be nominated by a state or territory government or Austrade on behalf of the Australian government before being invited to apply for this visa.

This temporary residence visa is valid for 4 years and leads to full permanent residence after satisfying the requirements for an 888 Business and Innovation and Investment (Permanent) visa. The time period and requirements to apply for a permanent residence visa will depend upon which of the four streams you will follow.

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.
    Changes were made to the significant investor rules on 1 July 2015 requiring 10% of the $5 million investment to be allocated to venture capital or private equity funds investing in start-up or small businesses in Australia.
    NOTE: There is no age limit for this visa and it is not necessary to pass an English language test. However, person with very limited English would need to pay an English Education charge.
  • 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.

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