The Business Innovation and Investment (Provisional) Visa (Subclass 188) is a provisional visa for individuals who are seeking to establish a new or existing business in Australia, or invest in an Australian business. The visa allows the holder to live and work in Australia for up to four years and, if successful, apply for permanent residency through the Business Innovation and Investment (Permanent) Visa (Subclass 888).
There are five streams for the Business Innovation and Investment (Provisional) Visa (Subclass 188):
The Business Innovation Stream: For individuals who have a successful business track record and want to establish a new or develop an existing business in Australia.
The Investor Stream: For individuals who want 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.
The Significant Investor Stream: For individuals who want to make a significant investment of at least AUD 5 million into complying investments in Australia and maintain business and investment activity in Australia.
The Entrepreneur Stream: For individuals who have a funding agreement from a third-party Australian investor to undertake a complying entrepreneurial activity in Australia.
The Agreement Stream: For individuals who are sponsored by a state or territory government through a regional certifying body.
To be eligible for the Business Innovation and Investment (Provisional) Visa (Subclass 188), applicants must:
Meet the specific requirements of their chosen stream.
Meet the required points score on the Points Test, based on factors such as age, English language ability, education, and business and investment experience.
Meet the financial requirements of their chosen stream.
Meet the character and health requirements.
Be nominated by a state or territory government agency or sponsored by an Australian employer, as relevant to their chosen stream.