Business Visa

Australian Business Innovation & Investment Visa (SUBCLASS 188)

The Business Innovation and Investment visa (Subclass 188) is specifically designed for business owners and investors who are interested in establishing or managing a new or existing business in Australia. This temporary visa provides an opportunity for applicants to pursue their entrepreneurial goals and serves as a pathway towards eligibility for a permanent Business Skills visa in the future. By obtaining the Subclass 188 visa, individuals can take the initial step towards realizing their business aspirations in Australia.

Common Criteria:

To be eligible for 188 visa, you must:

• Be under 55 years of age at the time of application.
• Be nominated by an Australian state or territory government.
• Submit an Expression of Interest (EOI) and receive an invitation to apply from the Department of Home Affairs.
• Undergo health examinations within 12 months prior to applying for the visa.
• Provide police certificates from each country where you have lived for 12 months or more within the past 10 years, to demonstrate your character history.
• Sign an Australian Values Statement if you are 18 years of age or older.
• Be free from any outstanding debts owed to the Australian government.
  
  

Visa Streams

Business Innovation Stream:

The Business Innovation and Investment visa (Subclass 188) offers a stream for individuals who are nominated by an Australian state or territory government and have a genuine intention to establish or manage a new or existing business. This stream provides an avenue for applicants to pursue their entrepreneurial aspirations and contribute to the economic growth and development of the chosen state or territory in Australia. By meeting the nomination criteria and demonstrating their commitment to business ownership or management, eligible individuals can apply for the visa under this stream.

Business INNOVATION:

The Business Talent Visa (Subclass 132) is a pathway to permanent residency for individuals who are motivated to establish or grow a new or existing business in Australia. This visa category emphasizes the importance of having adequate funds and a genuine intention to reside in a specific Australian state or territory. By meeting these requirements, applicants have the opportunity to establish themselves in the Australian business landscape and contribute to the economic prosperity of the chosen region.

Eligibility Criteria

To be eligible for 188 visa under the business innovation stream, you must:

• Be under the age of 55.
• Score a minimum of 65 points on the points test, which evaluates various factors such as age, English language proficiency, qualifications, experience, and more.
• Demonstrate a genuine desire to undertake a management role in a business in Australia.
• Possess total net business and personal assets of at least AUD 800,000 that are available for legal transfer to Australia.
• Have owned an established business or a business with a turnover of at least AUD 500,000 for at least two out of the four fiscal years prior to the invitation to apply for the visa.
• Own at least the following percentage of the nominated main business:
• 51% if the business has a turnover of less than AUD 400,000 per year.
• 30% if the business has a turnover of AUD 400,000 or more.
• 10% if the business is a publicly listed company.
  
  

By meeting these requirements, applicants can be considered eligible for the Business Talent Visa (Subclass 132). This visa category is designed for individuals who have the skills, assets, and commitment to undertake a management role in a business in Australia, contributing to the country’s economic growth and development.

Obligations After Entering in Australia

• Maintain a substantial ownership interest in an Australian business.
• Take on a senior-level role with significant involvement in the daily management and decision-making processes of the business.
  
  

Must be responsible for any of the following things:

• Introduce new or enhanced technology to the Australian market, fostering innovation and progress.
• Maintain employment opportunities within Australia, contributing to the growth of the local workforce.
• Develop associations and establish connections with international markets, promoting international trade and collaboration.
• Export Australian goods, showcasing the country’s products and expanding its presence in global markets.
• Produce goods or offer services that are valuable to the Australian economy, supporting economic development and diversification.
• Make a significant contribution to the commercial activity and competitiveness within the Australian business landscape, driving growth and sustainability.
  
  

Extending the Stay

You can also extend your stay for another 2 years under the business innovation extension stream. However, you must:

• If you have held a visa in the Business Innovation stream for a minimum of 3 years, you may be eligible to apply for an extension to continue operating your business in Australia.
• To support your application, you should demonstrate the necessity of extending your stay in Australia for business purposes. Additionally, having a current nomination from a state or territory government agency is crucial.
• Furthermore, you must have actively maintained an ownership interest in the nominated business for at least 2 years and fulfilled your commitment of being directly involved in the regular management and decision-making processes of the business.
  
  

If you are interested in assessing your eligibility and determining the best way to proceed with your visa application under this stream, we encourage you to contact us today for a comprehensive evaluation and guidance on the application process. Our team is ready to assist you in navigating the requirements and ensuring a smooth application journey.

Investor Stream

If you have the willingness to make a designated investment of at least AUD 1.5 million in an Australian state or territory and have a genuine commitment to maintain business activity in Australia, you are eligible to apply for the visa under this stream. This stream offers an opportunity for individuals who are ready to invest in the Australian economy and actively contribute to the growth and development of businesses in the country. By fulfilling these requirements, you can take a significant step towards obtaining the visa and embarking on your entrepreneurial journey in Australia.

Eligibility Criteria

To be eligible for 188 visa under the investor stream, you must:

• Age: Generally, be under 55 years of age. However, this requirement can be waived if your proposed investment provides outstanding economic benefit to the nominating state or territory.
• Points test: Score at least 65 points on the points test, which evaluates various factors such as age, English language proficiency, qualifications, experience, and more.
• Management skills: Possess a high level of management skills to successfully undertake a qualifying business activity in Australia.
• Commitment: Demonstrate a genuine commitment to continue your business and investment activities in Australia once the original investment has matured.
• Intention to stay: Have a genuine intention to stay in the state or territory under which the designated investment has been made for at least 2 years.
• Direct involvement: Have been directly involved in managing one or more qualifying businesses or eligible investments for at least 3 years.
• Ownership interest: Have a combined ownership interest of at least 10% (with your partner) in a qualifying business or eligible investment of at least AUD 1.5 million owned by you for at least one of the five fiscal years.
• Designated investment: Make a designated investment of at least AUD 1.5 million in a state or territory government for at least 4 years from the date of issue.
• Assets: Possess legally obtained investment, net business, and personal assets of at least AUD 2.25 million that can be transferred to Australia within two years of visa being granted.
• Unacceptable activities: Have no participation or association with unacceptable activities in Australia
  
  

Significant Investor Stream

If you have a willingness to invest a minimum of AUD 5 million into complying significant investments in Australia and demonstrate a commitment to maintaining business activity in the country, you are eligible to apply for the visa under this stream. This stream provides an opportunity for individuals who are prepared to make substantial investments in Australia and actively contribute to the growth and development of the economy. By fulfilling these requirements, you can take a significant step towards obtaining the visa and engaging in business ventures within Australia.

Eligibility

You must be genuinely committed to:

• Reside in the nominated state or territory and maintain your business and investment activities in Australia, even after the expiration of your provisional visa.
• You, your partner, or both must have acquired net assets of at least AUD 5 million legally, which can be utilized for the complying investment in Australia.
• You should not have any involvement or association with disreputable business or investment activities.
• All members of your family unit above the age of 18, including yourself, must provide an assurance that they will not take any legal action against the Commonwealth in the event of any loss related to the complying investment.
• All income generated from the complying investment in Australia must be subject to taxation under Australian taxation law.
• The complying investment or complying significant investment must be a minimum of AUD 5 million over a period of four years.
• The complying significant investment should be allocated in the following proportions:
• At least AUD 500,000 in venture capital and growth private equity funds that invest in start-ups and small private companies.
• At least AUD 1.5 million in approved managed funds that invest in emerging companies listed on the Australian Stock Exchange.
• At least AUD 3 million in managed funds that invest in various assets, including ASX listed companies or Australian corporate bonds, commercial real estate, and annuities.
  
  

Note that the investment should not be used as security or collateral for a loan, and direct investment in residential real estate is not allowed. Indirect investment through managed funds in residential real estate should also be limited.

Extending the Stay

• Hold a visa in the significant investor stream for a minimum of 3 years or not have held more than one visa in the significant investor stream.
• Be nominated by a state or territory agency.
• Have a genuine intention to reside in the nominated state or territory.
• Maintain the complying investment or complying significant investment consistently in accordance with the investment framework.
• You and all dependent family members aged 18 years or above must sign Form 1412, which acknowledges the undertaking of responsibility for financial and legal affairs and ensures no liability is incurred to the Australian government.
• If the period of direct involvement in the business is less than 2 years, ensure that the company was operating a qualifying business for the entire duration. If the period is more than 2 years, ensure that the company possessed a qualifying business for at least 2 years.
  
  

Premium Investor Stream

If you have a strong commitment to investing a minimum of AUD 15 million in complying premium investments in Australia and actively engage in business and investment activities within the country, you can apply for this visa under the premium investor stream. This visa allows you to make a significant contribution to the Australian economy while benefiting from the opportunities available in the country.

Eligibility Criteria

The premium investor stream is exclusively available for individuals who have been nominated by the Australian Trade and Investment Commission (Austrade) on behalf of the Australian government.

To be eligible for 188 visa under this stream, You must make a complying investment of at least AUD15 million in any of the following options:

• Invest in Australian government or semi-government bonds or notes, Australian proprietary limited companies, Australian securities exchange listed assets, state or territory approved philanthropic contribution, deferred annuities issued by Australian registered life companies, or Australian exchange-listed entity issued corporate bonds.
• Possess a high level of management skills to undertake a qualifying business activity.
• Ensure that all income earned from the complying investment in Australia is subject to tax under Australian taxation law.
• Have a genuine intention to continue business and investment activity in Australia even after the validity of your 188 visa expires.
• Have a combined net assets of at least AUD 15 million that are lawfully acquired and available to use for the complying investment in Australia.
• Ensure that you and your partner have not been involved in unacceptable business or investment activities.
• Provide assurance, along with your partner and dependent family members aged 18 and above, that you will not bring any action against the Commonwealth for any loss related to the complying investment.
  
  

By fulfilling these requirements, you can pursue the premium investor stream and make a significant investment in Australia while contributing to its economy and development.

Entrepreneur Stream

If you have secured a funding agreement of at least AUD 200,000 from a third party to undertake a complying entrepreneur activity in Australia, such as the commercialization of a product or service, you may be eligible for this visa.

Eligibility Criteria

To be eligible to apply for 188 visa, under the entrepreneur stream, you must have:

• You are under 55 years of age, unless your complying entrepreneur activity offers exceptional economic benefit to the nominating state or territory.
• You can demonstrate competency in English at the time of visa invitation.
• You have a genuine intention to undertake a complying entrepreneur activity in Australia.
• Your entrepreneur activity does not involve residential real estate, labour hire, or the purchase of an existing enterprise or franchise in Australia.
• You have secured a legally enforceable funding agreement of at least AUD 200,000 from one of the specified entities, such as a Publicly Funded Research Organisation, State or Territory Government, Commonwealth Government Agency, Registered investor with Early State Venture Capital Limited Partnership or an Australian Venture Capital Limited Partnership, or Specified Higher Education Provider.
• The funding agreement includes a commitment to pay at least 10% of the funds to the entrepreneurial entity within 12 months of commencing activity in Australia.
• You hold at least a 30% interest in the entrepreneurial entity at the time of entering into the agreement.
• You have a viable plan or innovative idea for leading the commercialization of a product or service, or the development of an enterprise in Australia.
• You will maintain an ongoing relationship with the nominating state or territory government.