Business Innovation and Investment Visa (subclass 188/888)

The Business Innovation and Investment Visa (Subclass 188) is a temporary visa for successful business owners, investors, and entrepreneurs who wish to establish or manage a business or make significant investments in Australia. It is part of the Business Innovation and Investment Program (BIIP) and offers a pathway to permanent residency through the Subclass 888 visa.

Key Benefits of the Subclass 186 Visa

• Live and Work in Australia
  Stay for up to 5 years depending on the stream.
• Pathway to Permanent Residency
  Transition to the Subclass 888 visa after meeting business or investment criteria.
• Bring Your Family
  Include your partner and dependent children in your visa application.
• Multiple Streams Available
  Choose from five tailored streams based on your business or investment.
• Access to Australia’s Economy
  Establish or expand your business in one of the world’s most stable and prosperous economies.

Eligibility Criteria

To apply for the Subclass 188 visa, you must meet general and stream-specific requirements:

General Requirements

• Be under 55 years of age (unless exempted by state nomination).
• Submit an Expression of Interest (EOI) via SkillSelect.
• Be nominated by a state or territory government.
• Meet health and character requirements.

Visa Streams

The Subclass 188 visa includes five main streams, each with unique criteria:

1. Business Innovation Stream
   • Own and manage a new or existing business in Australia.
   • Minimum business turnover: AUD 750,000 (2 of last 4 years).
   • Net assets: AUD 1.25 million
2. Investor Stream
   • Invest AUD 2.5 million in a complying investment in an Australian state or territory.
   • Demonstrate investment experience and net assets of AUD 2.5 million.
3. Significant Investor Stream
   • Invest AUD 5 million in complying investments.
   • No age or points test requirement.
   • Must spend 40 days/year in Australia.
4. Premium Investor Stream
   • Invest AUD 15 million in premium investments.
   • Must be nominated by Austrade.
5. Entrepreneur Stream
   • Secure AUD 200,000 in funding from a third party.
   • Submit a business plan for a complying entrepreneurial activity.

Visa Conditions

Once granted, the Subclass 188 visa comes with the following conditions:

• Temporary Residency
  Stay in Australia for up to 5 years depending on the stream.
• Business or Investment Obligations
  You must actively manage your business or maintain your investment.
• Transition to PR
  Apply for the Subclass 888 visa after meeting business or investment milestones.
• Family Inclusion
  Your family members can live, work, and study in Australia.

Frequently Asked Questions (FAQs)