188

188 Business Investment Visa
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 visa has three streams:
• Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia.
• Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia.
• Significant Investor stream: for people who are willing to invest at least AUD5million into complying investments in Australia and want to maintain business and investment activity in Australia.
Common Criteria
• Nomination by a state or territory government
• Invitation to apply through SkillSelect
• Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit
• Meet the pass mark in the Business Innovation and Investment Points test (currently 65)
• Have an overall successful career in business or investment
Business Innovation Stream Requirements
• Ownership of a business with turnover of at least AUD 500,000 for 2 of the last 4 fiscal years.
• Net personal and business assets of at least AUD 800,000
Investor Stream Requirements
• You have had business and personal net assets of at least AUD 2.25 million for the last 2 fiscal years
• You must make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa
• You have 3 years of experience either managing a qualifying business or “eligible investments”, and have showed a high level of management skill
• For at least 1 of the last 5 fiscal years, you have either:
o Managed a business in which you hold a 10% shareholding; or
o Managed “eligible investments” of at least AUD 1.5 million
Significant Investor stream Requirements
You must make a complying investment of at least AUD5 million in any of the following options, in any proportion, and hold that investment continuously for at least four years:
• Commonwealth, state or territory government bonds
• Eligible managed funds
• Direct investment into private Australian companies
You must also have a genuine and realistic commitment to:
▪ reside in the state or territory whose government agency nominated you
• continue your business and investment activity in Australia after your complying investment matures
• live in Australia for at least 160 days over four years while holding your provisional visa.

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