Business Innovation and Investment (Subclass 188)

BUSINESS INNOVATION and INVESTMENT (SUBCLASS 188) - Provisional

Provisional business visa 188 is the first and the major stage of the immigration process for most businessmen and investors.

All applicants must be nominated by the state / territory, which imposes additional requirements on applicants over the basic conditions of DHA. This visa is divided into 4 streams:

Business Innovation stream
Entrepreneur stream
Investor stream AUD 2.5 million
Significant Investor stream AUD 5 million

Comprehensive Business Visa Program Package

Visa conditions

Business Innovation

Australian state / territory nomination;
Business plan availability;
Age less than 55 years;
Minimum 65 points in the business visa points test
Successful business career without problems with the law;
Genuine and realistic intentions to be involved in business in Australia;
At least 30% ownership of the business if the company's turnover exceeds $ 400,000, or at least 51% ownership if the company's turnover is less than $ 400,000, or 10% ownership if the company is publicly listed;
One business turnover (or two businesses in total) of at least $ 750,000 in any 2 of the 4 financial years immediately prior to applying for a business visa;
Net assets (including net business assets) of at least $ 1,500,000 at the time of applying for a business visa (there is no requirement for the immediate transfer of these assets to Australia, but they must be legally acquired and must be able to be transferred to Australia within 2 years of visa grant);
Business management involvement (working as an employee in your own business should not occupy more than 50% of the working time).

Entrepreneur

The Australian state / territory nomination;
Must be recognised by the nominating State or Territory government agency to develop your entrepreneurial concepts. To check your eligibility you have to contact the nominating State or Territory;
Intention to start and continue a complying entrepreneur activity in Australia. The activity must relate to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia;
Proficiency in English at IELTS level 6666;
Age less than 55 years;
Entrepreneurship activity must not relate to any of the following excluded categories:

Residential real estate
Labour hire
Purchase of an existing enterprise or a franchise in Australia.

The Investor AUD 2.5 million

The Australian state / territory nomination;
Age less than 55 years;
Minimum 65 points in the business points test ;
Successful business career without problems with the law;
Genuine and realistic intentions to be involved in business or investment in Australia after the initial investment maturity;
Compliance with one of the following conditions for at least 1 out of 5 years, prior to visa application:

Management of a business with ownership of at least a 10% (in person or together with spouse)
Management of investments of at least $ 1.5 million (in person or together with the spouse)

$ 2.5 million investment of free funds received from business or investment activities in complying investment for the period of the provisional visa 188 (3-5 years). It must be invested in the following proportions:

at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
at least AUD750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
a ‘balancing investment’ of at least AUD1.25 million in managed funds

The Significant Investor AUD 5.0 million

The Australian state / territory nomination;
Net assets of at least $ 5 million at the time of applying for a business visa (there is no requirement that these assets should be acquired as a result of business or investment activities, but they need to be legally acquired);
significant investment of at least AUD5 million in complying investment for the period of the provisional visa 188 (3-5 years). It should be invested in the following ways:

at least AUD1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
a ‘balancing investment’ of at least AUD2.5 million in managed funds

The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.

Direct investment in residential real estate is prohibited. Indirect investment in residential property through managed funds is strictly limited.