188B VISA

Business Investor Stream Subclass 188B

Indah Melindasari MARN 0961 448

WRITTEN BY
INDAH MELINDASARI, B.Com

MARN 0961 448 | UPDATED MAY 2019

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Business Investor Stream Subclass 188B Visa Brief Overview

This is a temporary visa that lets you stay in Australia for up to 4 years and 3 months. To stay permanently, you can apply for a permanent residency through the Business Innovation & Investment (Residence) Subclass 888 visa.

Where should I apply? In or outside of Australia?

You can be either in Australia or overseas when you lodge your application or when the visa is decided, but not in immigration clearance. Remember that you must hold a substantive visa, Bridging A, B or C visa, if you are in Australia.

Business Investor Stream Subclass 188B Basic Eligibility

  • You must be nominated by an Australian State or Territory government and you must lodge an Expression of Interest (EOI) through SkillSelect;
  • You must have an investment or a business;
  • You must be willing to invest AUD 1.5 million in Australian State or Territory Government bonds;
  • You must have a business with personal net assets with at least $2.25 million AUD in the last 2 fiscal years;
  • You must be under 55 years old;
  • You must earn 65 point test score in the Business Innovation and Investment Points test;
  • You must have at least 3 years’ experience in eligible investments or managing a qualified business;
  • You must have shown a high level of management skill.

Eligibility for Permanent Residence

To be qualified for permanent residency through a Business Innovation & Investment (Residence) Subclass 888 visa, you need to meet the following criteria:

  • You must have been in Australia on your subclass 188B visa for at least 2 years, within the 4 years prior to lodgment.
  • You must maintain your investment in Australian State or Territory bonds for the last 4 years.