The Business Innovation and Investment Program (Subclass 188) visa is for business owners, entrepreneurs and high net work individuals to purchase a business, invest, or establish a start-up in Australia.
Read our general information and document checklists in relation to these visa categories below. Contact us directly for specific advice.
Australia’s Investor Visa Program
Australia’s Business and Investor program is designed to provide temporary and permanent residence pathways to individuals with significant business talent, or funds to invest into Australia. These visas are a useful way to obtain visas for high net worth individuals.
Simplified 188 visa eligibility
- the Business Innovation stream (points-tested) – for people who want to own and manage a new or existing business in Australia (and have total net business and personal assets of at least AUD $1,250,000 which are available for the conduct or establishment of a business in Australia) and an ownership interest in a main business that had an annual turnover of at least AUD $750 000
- the Investor stream (points-tested) – for people who want to make a designated investment of at least AUD $2.5 million
- the Significant Investor Visa (SIV) stream – for people who want to invest at least AUD $5 million into complying investments in Australia
- the Entrepreneur stream – for entrepreneurs with innovative ideas
Target market
- high net worth individuals
- successful business people
- globally recognised entrepreneurs
Eligibility
Business Innovation stream
This is a points tested temporary visa for people with business skills. It lets you operate a new or existing business in Australia. This visa provides a pathway to permanent residence thorough the Subclass 888 visa.
General eligiblity
- be under the age of 55 at the time you are invited to apply unless your business will be of exceptional economic benefit
- have a successful business career
- not have a history of involvement in unacceptable activities
- have competent English (see here)
- score at least 65 on the points test
- for 2 of the last 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 business that had a combined turnover of at least AUD $750,000 in each of those 2 years
- you, your partner, or you and your partner together, have total net business and personal assets of at least AUD $1,250,000
Documents required
- a list of the documents required is available here
Eligibility
Investor stream
This is a temporary visa which requires you to invest at least AUD $2.5 million in an Australian State or Territory and maintain business or investment activity in Australia. Maintaining your investment can lead to permanent residence through the Subclass 888 visa.
General eligibility
- be under the age of 55 at the time of invitation unless the State or territory government agency has deemed the investment will be of exceptional economic benefit
- be in Australia at time of application and decision (if in Australia, an applicant must hold a substantive visa or a BVA, BVB or BVC)
- be nominated by an Australian State or territory government agency before being invited to apply for the visa
- for at least 1 of the 5 fiscal years immediately before being invited to apply for the visa, have directly managed either a qualifying business in which you had a 10% ownership interest or an eligible investment of at least AUD $2.5 million
- for the 2 fiscal years immediately before being invited to apply, have business and personal assets with a net value of at least AUD $2.5 million
- score at least 65 on the points test
- after lodging the application, make the designated investment of at least AUD $2.5 million which must be invested in the following proportions:
- at least AUD $500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least AUD $750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a “balancing investment” of at least AUD $1.25 million in managed funds
- have at least functional English
- meet health and character criteria
Documents required
- a link to the document checklist is here
Eligibility
Significant investor stream
This temporary visa is for people who invest at least AUD5 million in Australian “complying significant investments”. Maintaining these investments can lead to permanent residence through the Subclass 888 visa.
General eligibility
- can be in or outside of Australia at time of application (if in Australia must hold a substantive visa, a BVA, a BVB or a BVC)
- must be nominated by an Australian State or Territory government agency or Austrade before being invited to apply
- when invited, must make a complying investment of AUD $5 million and have a genuine intention to hold that investment for 4 years (proportion of that investment must be AUD $1 million in venture capital and growth private equity funds which invest in start-ups and small private companies, AUD $2.5 million in approved managed funds, and AUD $1.5 million in managed funds as a ‘balancing investment’)
- have at least functional English
- pass health and character criteria
Eligibility
Entrepreneur
This is a temporary visa lets you carry out entrepreneurial activities in Australia. Complying with the visa requirements can lead to permanent residence through the Subclass 888 visa.
General eligibility
- be nominated by a State or territory government agency before being invited to apply
- be 55 or younger at the time of the invitation to apply for the visa, unless the State or Territory government agency has determined your proposed entrepreneur activity will be of exceptional economic benefit
- undertake, or propose to undertake, a complying entrepreneur activity in Australia
- carry out entrepreneurial activity in Australia which must relate to an innovative activity that will lead to:
- the commercialisation of a product or
- the development of an enterprise or franchise in Australia
- provide a business plan for your entrepreneurial activity
- have at least competent English
- meet health and character criteria
Documents required
- a general document checklist is available here
Process
Australia’s Investor Visa Program
We’ll advise and guide you from assessing eligibility to lodgement stage. We use an online document / information collection tool so that all your files and information are stored in one single location. You can use the Hannan Tew Portal to track the status of your matter and have a complete overview of documents required and provided.
Investor Visas
Frequently Asked Questions
Do I need health, character and / or English assessments?
Depending on your country of nationality and your travel history, you may require health examinations to process your visa. Hannan Tew will advise you of the relevant assessments once you have completed the information questionnaire.
You will need to provide police clearances for all countries in which you have resided for 12 months or more in the last 10 years.
Do I need to pass a points test for my 188 visa application?
You do not need to pass the points test for the Significant Investor or Entrepreneur applications. However, all the other streams require an applicant to score at least 65 points in the points test.
What if I am over 55, can I still apply for a 188 visa?
Importantly, the Significant Investor stream does not have an age requirement.
Even if you are over the age of 55, you may still be able to apply for other visa streams if the authorities accept that your investment will lead to a significant economic benefit.
How long do I have to apply for a 188 visa after my invitation from Skill Select?
An invitation to apply is valid for 60 days. If you do not lodge your application within this time period you will have to resubmit your EOI.
Disclaimer
The information contained here is offered for informational purposes only and does not constitute legal advice or give rise to an attorney-client relationship between you and our firm. The information: (i) must be regarded as a practical guide for general information and not a process guide for determining the specific immigration requirements of the countries covered, (ii) should not be a substitute for a more indepth analysis of applicable facts and circumstances conducted by competent professionals, and (iii) does not represent an opinion from Hannan Tew or any of its agents with regard to the laws of any of the jurisdictions concerned. The information does not guarantee the outcome or approval of any particular immigration application.
What can we do for you?
With extensive experience representing applicants apply for general skilled migration visas from all corners of the world, our staff are well placed to assist with all issues in relation to the general skilled migration program including: skills assessment applications, State / territory nomination applications, visa applications and general advisory.
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