What is Business Innovation and Investment (Provisional) (subclass 188 ) visa

 There are two types of visas for those who desire to invest in the Australian economy and establish a business.

Temporary visa valid for 4 years. Only with 188 visas can one apply for an 888 (permanent) visa in the future.

 

188 Visa has 4 streams:

business innovation

In order to own and operate a business in Australia.

- Investor stream/investor

For applicants who are willing to invest in the Australian economy a minimum of AUD 1,500,000 for a minimum of 4 years

- Significant Investor stream / significant investor

For applicants who are willing to invest in statutory bonds, funds, and companies in Australia a minimum of AUD 5,000,000 over a 4 year period.

- Premium Investor stream / premium investor

For applicants who are willing to invest in legally defined bonds, funds, companies, non-residential property in Australia a minimum of AUD 15,000,000.

  Applicants for the 188 Business Innovation stream / business innovation visa must:

• be under the age of 55 unless the nominating authority repeals this requirement. The state government, which will act as the applicant's nominating authority, has the right to petition the Department of Immigration Australia (DIAC) to remove the age limit for the applicant.
• the business the test must be passed with at least 65 points
• should have had at least two consecutive years of total yearly turnover of at least $500,000 (in one or more of your primary companies)
• the an applicant is a founder or co-owner of:
• - more than 51% of the business with a company's turnover of less than AUD 400,000 per year, or
• - more than 30% of the business with a company's turnover of more than AUD 400,000 per year, or
• - more than 10% of the business, provided that the shares of this company are publicly quoted on stock exchanges
• The applicant can submit for DIBP consideration a summary (consolidated) calculation of business assets (maximum of 2 of its companies)
• As a manager of this firm, he wants to conduct his business in Australia.
• One of the Australian States or Territories in that region must propose the applicant.
• A medical exam must be passed. There is no risk of contracting infectious illnesses
• No criminal record

 It might interest you: Australia Business Visa Types

Procedure:

• - The applicant collects documents, receives an invitation ("sponsorship") from the state or territory
• - The applicant submits an "expression of interest" to grant him 188 visas through the electronic form: SkillSelect on the official website of the Australian Department of Immigration and Border Protection (DIBP)
• - DIBP sends you an invitation to apply for a visa. You'll be able to apply for a visa online within 60 days. You can be both in and out of Australia at the same time.

Applicants for the 188 Significant Investor stream visa must:

• prior to filing an application with DIAC, personal assets that were obtained legally in the amount of AUD 5,000,000 to invest in these assets:
• or securities of the Australian Government or the Governments of the Australian States or Territories;
• or into securities of the Australian Securities and Investment Commission (ASIC)
• or invest directly in an Australian business
• There is no age limit. There are no requirements for knowledge of English. The Business Ballpoint Test is not required.
• Learn more about the features of this visa and the nuances of investing in the Australian Department of Immigration and Border Protection (DIBP)

 

Information is taken from the official website of the migration agents in Brisbane, translated, and adapted.