188 VISA

Business Innovation and Investment (Provisional) Visa Subclass 188

Indah Melindasari MARN 0961 448

WRITTEN BY
INDAH MELINDASARI, B.Com

MARN 0961 448 | UPDATED MAY 2019

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Business Innovation and Investment (Provisional) Visa Subclass 188 Brief Overview

If you want to own and manage a business or an investment in Australia, or you want to undertake entrepreneurial activities, this visa is the most suitable for you.

188 Visa Basic Eligibility

  • You must submit an expression of interest (EOI) in SkillSelect;
  • You must be nominated by a State or Territory government agency or Austrade;
  • You must be invited to apply for the visa;
  • For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least AUD500,000 turnover in each of those 2 years.
    This would also mean you must own at least:
    1. 51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year;
    2. 30%, of the total value of the business  if the business has a turnover of AUD400,000 or more per year, or
    3. 10%, of the total value of the business if the business is operated by a publicly listed company.
  • You must be under 55 years old;
  • You must score at least 65 on the point test.

188 Visa Processing Time

There are no standard processing times available for this visa, so please make sure that your application is complete and you have included all the documents and information needed for the visa.

188 Visa Stay

All of the visa streams here are for a temporary visa that allows you to stay for up to 4 years and 3 months, except for the Business Innovation Extension stream and Significant Investor Extension stream.

Business Innovation Extension stream allows you to stay up to 6 years after the date of the grant of the Business Innovation and Investment (Provisional) visa Innovation stream.

Significant Investor Extension Stream allows you to extend your stay for up to 4 more years from your Significant Investor Stream.

Permanent Residence pathway is possible if you are eligible to apply through the stream you are in.

7 Streams for this Business Innovation and Investment (Provisional) Visa Subclass 188

There are seven streams for this visa with its various requirements, benefits and other details: