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 five streams:

  • the Business Innovation stream C
  • the Investor stream AUD 1.5 million
  • the Significant Investor stream AUD 5 million
  • the Premium Investor stream AUD 15 million
  • Entrepreneur stream

This is a point tested 4-year temporary visa.

Visa conditions
  • Australian state / territory nomination;
  • Business plan availability;
  • Age less than 55 years;
  • Minimum 65 points in the point-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 $ 500,000 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 $ 800,000 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).
  • The Australian state / territory nomination;
  • Age less than 55 years;
  • Minimum 65 points in the point-test;
  • Successful business career without problems with the law;
  • At least 3 years of investment or business management experience;
  • 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)
  • $ 1.5 million investment of free funds received from business or investment activities in a state or territory security of the sponsoring state / territory for a period of 4 years.
  • 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);
  • investment for a period of 4 years in the following Australian assets:
  • - At least AUD500 000 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 investing in emerging companies listed on the Australian Stock Exchange.
  • - A ‘balancing investment’ of at least AUD3 million in managed funds that may invest in a range of assets, including ASX-listed companies, Australian corporate bonds or notes, annuities and commercial real estate.
  • Direct investment in residential real estate continues to be prohibited and indirect investment in residential property through managed funds is now strictly limited.
  • Investments must not be used as security or collateral for a loan.
  • Nomination from AUSTRADE (Australian Commission on Trade and Investment);
  • Net assets of at least $ 15 million at the time of applying for a business visa. They should not be in pledge, should be legally acquired and be prepared to invest in Australia;
  • Investment of the above-mentioned funds in any of the following assets:
  • Australian securities exchange listed assets;
  • Australian government or semi-government bonds or notes;
  • Corporate bonds or notes issued by an Australian exchange listed entity (or wholly owned subsidiary of the Australian listed entity) or investment grade rated Australian corporate bonds or notes rated by an AFS licenced debt rating agency;
  • Real property in Australia excluding residential property;
  • Deferred annuities issued by Australian registered life companies;
  • State or territory government approved philanthropic contribution;
  • Genuine and realistic intentions to be involved in business in Australia after the conclusion of your provisional visa;
  • non-participation in unacceptable business or investment activities.
  • The Australian state / territory nomination;
  • Age less than 55 years;
  • Intention to start and continue business in Australia;
  • Proficiency in English at IELTS level 6666;
  • Funding of at least $ 200,000 from one or more of the following sources:
  • Commonwealth Government agency
  • State or Territory Government
  • Publicly Funded Research Organisation
  • Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
  • Specified Higher Education Provider
  • At least 10% of the above financing must be issued within 12 months from the day of commencement of business;
  • you must own at least 30% of the shares in the enterprise;
  • Business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia
  • 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.

There are 7 business & invest stream programs to Australia. In this video we grouped them into 3 clear categories and explained the minimum requirements for each category.

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