Australia Business Innovation and Investment Visas(188)
The Business Innovation and Investment – provisional / subclass 188 is a state nominated provisional visa which is valid for four years. It is a pathway to permanent residency, through the Business Innovation and Investment (Permanent) (subclass 888) visa. This sub class is for those people who want to own or manage a new or existing business in Australia. Under this visa you stay in Australia for up to 4 years and 3 months. 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. You can bring eligible members of your family with you. For dependent children age limit is up to 19 years. It is also for people who want to invest in an Australian business. There are three streams, or categories,
Business Innovation stream: For people who want to own and manage a new or existing business in Australia.
Investor stream: for people who want to make a designated investment of at least AUD 1.5 million in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.
Significant Investor stream: for people who are willing to invest at least AUD 5 million into complying investments in Australia and want to maintain business and investment activity in Australia after the original investment has matured.
What is the Processing time period?
- Business Innovation stream – 3 weeks
- Business Investor stream – 2 weeks
- Significant Investor stream – 2 weeks
What is the cost of Australia business visa?
Main Applicant: AUD 5375
There is also a charge for each family member who applies for the visa with you:
- Additional applicant over 18 years old: AUD 2685
- Additional applicant under 18 years old: AUD 1345
What are the Eligibility Criteria for Business Innovation Visa?
- Age must be below 55 years while applying.
- English language ability
- Should score at least 65 on the points test.
- You need to have valid experience in running a business successfully.
- Should not have been involved in any illegal activity.
- Should contain an Asset of net Value of AUD 800,000.
- Must have a business of at least AUD 500,000.
Step by Step process to apply for Business Innovation and Investment visa.
- Submit an Expression of Interest (EOI)
- Apply for nomination from particulate stare or territory.
- Lodge visa application
- Pay application fee
Please contact us for further information.