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AllSkills Recruitment & MIgration Services

Business Innovation and Investment (provisional) visa (subclass 188)

About the Visa

Business Innovation stream
This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.

Investor stream
This provisional visa requires you to invest at least AUD2.5 million in Australian investments that meet certain requirements and maintain business or investment activity in Australia.

Significant Investor stream
This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.

Business Innovation Extension stream
This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream extend their stay in Australia.

Significant Investor Extension stream
This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders extend their stay in Australia for up to 4 more years.

Premium investor stream
This provisional visa is for people who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.

This stream is closed to new applications as of 01 July 2023.

Entrepreneur stream
For startup and early-stage entrepreneurs who have been endorsed to develop their concepts and been nominated by a State or Territory government agency.

Cost

Business Innovation stream
This visa costs from AUD9,450.00 for the principal applicant.

There is also a charge for each family member who applies for the visa with you:

  • Additional applicant over 18 years old: AUD4,725.00

  • Additional applicant under 18 years old: AUD2,365.00

Any applicant 18 years old or older who has less than functional English must also pay an extra charge.This charge is the second instalment charge. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa.

The second instalment charges are:

  • Main applicant: AUD9795

  • Family members: AUD4890

Investor stream
This visa costs from AUD9,450.00 for the main applicant.

There is also a charge for each family member who applies for the visa with you:

  • Additional applicant over 18 years old: AUD4,725.00
  • Additional applicant under 18 years old: AUD2,365.00

Any applicant 18 years old or older who has less than functional English must also pay an extra charge.This charge is the second instalment charge. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa.

The second instalment charges are:

  • Main applicant: AUD9795
  • Family members: AUD4890

Significant Investor stream
This visa costs AUD13,860.00 for the main applicant.

There is also a charge for each family member who applies for the visa with you.

  • Additional applicant over 18 years old: AUD6,930.00
  • Additional applicant under 18 years old: AUD3,470.00

Any applicant who was at least 18 years old at the time of application, and is assessed as not having functional English , and has not paid a second instalment of the visa application charge in relation to their application for a Business Innovation and Investment (Provisional) (subclass 188) visa will have to pay this extra charge. Pay it only when we ask you to. We will refund the charge if we do not grant the visa to that applicant.

The second instalment charges are:

  • Main applicant: AUD9,795
  • Family members: AUD4,890

Business Innovation Extension stream
This visa costs AUD1,135.00 for the main applicant.

There is also a charge for each family member who applies for the visa with you:

  • Additional applicant over 18 years old: AUD575.00
  • Additional applicant under 18 years old: AUD285.00

Any applicant 18 years old or older who has less than functional English must pay an extra charge unless the applicant has already paid this charge for a previous subclass 188 visa application. This charge is the second instalment. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa.

The second instalment charges are:

  • Main applicant: AUD9,795
  • Family members: AUD4,890

 

Significant Investor Extension stream
This visa costs AUD1,135.00 for the main applicant.

There is also a charge for each family member who applies for the visa with you:

  • Additional applicant over 18 years old: AUD575.00
  • Additional applicant under 18 years old: AUD285.00

Any applicant 18 years old or older who has less than functional English must pay an extra charge unless the applicant has already paid this charge for a previous subclass 188 visa application. This charge is the second instalment. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa.

The second instalment charges are:

  • Main applicant: AUD9,795
  • Family members: AUD4,890

Premium Investor stream
This visa costs AUD9,455.00 for the main applicant.

There is also a charge for each family member who applies for the visa with you:

  • Family members over 18 years old: AUD4,725.00
  • Family members under 18 years old: AUD2,365.00

You must pay an extra charge for any applicant 18 years old or older who has less than functional English. This charge is the second instalment. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa. The second instalment charges are:

  • Main applicant: AUD9,795
  • Family members: AUD4,890

Entrepreneur stream
This visa costs AUD6,395.00 for the primary applicant.

NOTE: There is also a charge for each family member who applies for the visa with you.

  • Additional applicant over 18 years old: AUD3,195.00
  • Additional applicant under 18 years old: AUD1,600.00

Any applicant 18 years old or older who has less than functional English must pay an extra charge. This charge is the second instalment. Pay it only when we ask you to. We will refund the charge if we do not grant you the visa.

The second instalment charges are:

  • Primary applicant: AUD9,795
  • Family members: AUD4,890

DURATION

This is a provisional visa. You can stay in Australia for up to 5 years if you were invited to apply for this visa on or after 1 July 2021.

If you applied after 1 July 2015, and were invited to apply for this visa before 1 July 2021, you can stay in Australia for up to 4 years and 3 months. If you applied before 1 July 2015, you can stay up to 4 years.

The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid.

The visa starts on the date it is granted.

Business Innovation Extension stream

The date you were invited to apply for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream determines how long you can stay in Australia.

If you were invited to apply on or after 1 July 2021

Travel to, enter and remain in Australia for up to 7 years after the date of the grant of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream that you held at the time of application.

If you were invited to apply before 1 July 2021

Travel to, enter and remain in Australia for up to 6 years after the date of the grant of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream that you held at the time of application.

Significant Investor Extension stream

This is a provisional visa.

If you held a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream at the time of application and you were invited to apply for this visa on or after 1 July 2021, you can stay for 7 years after the date of the grant of your original Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream.

If you held a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream at the time of application and you were invited to apply for this visa before 1 July 2021, you can stay for 6 years after the date of the grant of your original Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream.

If you were invited to apply for this visa on or after 1 July 2021 and you held a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream at the time of application, you can stay for up to 9 years after the date of the grant of your original Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream.

If you were invited to apply for this visa before 1 July 2021 and if you held a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream at the time of application, you can stay for 8 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream.

The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid.

The visa is valid from the date it is granted.

Premium Investor stream

This is a provisional visa. You can stay in Australia for 4 years and 3 months.

The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid.

The visa starts on the date it is granted.

Entrepreneur stream

This is a provisional visa. You can stay in Australia for up to 5 years. 

The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid.

The visa is valid from the date it is granted.

Eligibility Requirements

Basic eligibility:

  • Submit expression of interest (EOI) in SkillSelect
  • Nominated by a State or Territory government agency or Austrade 
  • Invited to apply for the visa

Business Innovation stream

  • Receive an invitation to apply
  • Be nominated
  • Have business ownership
  • Own and manage personal and business assets and investments
  • Score at least 65 on the points test
  • Have a successful business career
  • Be under 55
  • Not have a history of involvement in unacceptable activities
  • Meet the health requirement
  • Meet the character requirement
  • Sign the Australian values statement
  • Have no debt to the Australian Government
  • Not have had a visa cancelled or a previous application refused

 

Investor stream

  • Receive an invitation to apply
  • Be nominated
  • Have business ownership
  • Own and manage personal and business assets and investments
  • Score at least 65 on the points test
  • Intend to live in a specific State or Territory
  • Be under 55
  • Not have a history of involvement in unacceptable activities
  • Have a functional English
  • Meet the health requirement
  • Meet the character requirement
  • Sign the Australian values statement
  • Have no debt to the Australian Government
  • Not have had a visa cancelled or a previous application refused

Significant Investor stream

  • Receive an invitation to apply
  • Be nominated
  • Be able to invest at least AUD5 million
  • Not have a history of involvement in unacceptable activities
  • Have a functional English
  • Meet the health requirement
  • Meet the character requirement
  • Sign the Australian values statement
  • Have no debt to the Australian Government
  • Not have had a visa cancelled or a previous application refused

Business Innovation Extension stream

  • You must hold a Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream and have held it for at least three years, unless COVID-19 concessions apply.
  • Demonstrate a need for you to be resident in Australia to operate the main business
  • Have maintained ownership interest in your nominated main business
  • Have maintained your commitment
  • Be nominated
  • Not have a history of involvement in unacceptable activities
  • Have functional English
  • Meet our character requirement
  • Meet the Australian values statement
  • Have no debt to the Australian government
  • Not have had a visa cancelled or a previous application refused

Significant Investor Extension stream

  • Have not held more than one Significant Investor Extension stream visa
  • Continue to hold your complying significant investment
  • Not have a history of involvement in unacceptable activities
  • Have functional English
  • Meet the health requirement
  • Meet the character requirement
  • Sign the Australian values statement
  • Have no debt to the Australian government
  • Not have had a visa cancelled or a previous cancellation or a previous application refused

Premium Investor stream

  • Be nominated
  • Receive an invitation to apply
  • Make a complying premium investment of at least AUD15 million
  • Have net assets of at least AUD15 million
  • Not have a history of involvement in unacceptable activities
  • Agree not to bring action against the Commonwealth
  • Have functional English
  • Meet the health requirement
  • Sign the Australian values statement
  • Have no debt to the Australian Government
  • Not have had a visa cancelled or a previous application refused

Entrepreneur stream

  • Receive an invitation to apply
  • Be nominated
  • Be under 55
  • Have a complying entrepreneur activity
  • If you were invited to apply on or after 01 July 2021, be endorsed by a recognised body
  • If you were invited to apply before 01 July 2021, receive funding from an approved entity
  • Have a competent English
  • Meet the health requirement
  • Meet the character requirement
  • Sign the Australian values statement
  • Have no debt to the Australian Government
  • Not have had a visa cancelled or a previous application refused

What can you do with this visa?

For Business Innovation Extension stream:

For Significant Investor Extension stream:

For Premium Investor stream:

For Entrepreneur stream:

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