Business Innovation and Investment Visa 188 Provisional

Business Innovation Stream

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

skilled migrants

Stay

Up to 4 years and 3 months.

Cost

From AUD5,375

Processing times

There are no standard processing times available for this stream.

With this visa, you can…

  • operate a new or existing business in Australia
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream

You must

  • score at least 65 on the points test 
  • provide proof of your business success (annual turnover, ownership stake)
  • You, your partner, or you and your partner together, have total net business and personal assets of at least AUD800,000

With this visa, you can

  • operate a new or existing business in Australia
  • stay in Australia for up to 4 years and 3 months
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met.

How long you can stay

This is a provisional visa. 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 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 we grant it.

Stay longer

This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met. Explore your visa options.

If you applied for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream prior to 1 July 2015, you will be eligible to apply for a subclass 888 permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream after 3 years and 11 months.

If you need more time to apply for permanent residence, you can apply for a new Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Business Innovation Extension stream. If granted, you will be able to travel to, enter and remain in Australia for 6 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream. You can only extend it once apply for and be granted this visa once.

Include family

You can include members of the family unit in your application when you apply. You can also add dependent children to your application at any time before we decide on your application.

Family members who apply for the visa must meet our health and character requirements.

In order for the primary applicant to be granted the visa, family members who are not coming to Australia must meet our character requirements, and might have to meet our health requirements.

Cost

This visa costs AUD5,375 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: AUD2,685
  • additional applicant under 18 years old: AUD1,345

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: AUD9795
  • family members: AUD4890

To work out what your visa will cost use the Visa Pricing Estimator. The estimator does not take into account the second instalment or other costs. You might also have to pay other costs for health checks, police certificates and biometrics

Apply from

You can be in or outside Australia when you apply for the visa and when we decide on your application, but not in immigration clearance.

Processing times

There are no standard processing times available for this stream.

Your application might take longer to process if:

  • you do not complete the form correctly
  • you do not include all the documents we need or we need more information from you
  • it takes us time to verify your information

We can’t process your application if you do not pay the correct visa application charge. We will notify you if this is the case and if necessary return your application.

Your obligations

You and your family members who are part of your application must comply with all visa conditions and Australian laws.

You must also meet certain business obligations and obey Australian workplace laws.

Meet your business obligations

While the holder of this visa, you must:

  • have a substantial ownership stake in a business in Australia
  • take part in its day-to-day management, at a senior level

In the business, you must do at least one of these things:

  • add to commercial activity and competitiveness within the Australian economy
  • develop business links with international markets
  • employ people in Australia
  • export Australian goods
  • introduce new or improved technology, or
  • produce goods or services that Australia would otherwise import

Follow Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

You must meet workplace laws when operating your business in Australia. The Pay and Conditions Tool (PACT) can help you with:

  • pay rates
  • shift calculations
  • leave arrangements and notice
  • redundancy entitlements

Adequate health insurance

We recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia. Insurance can help limit your financial liability.

Reciprocal healthcare agreements

Some countries have a reciprocal healthcare agreement with Australia. 

Travel

You can travel outside Australia and return as many times as you want while the visa is valid.

The time you spend outside Australia does not extend the visa.

Visa label

Australian visas are digital.

We do not put a visa label in your passport. Instead, we link your digital visa record to your passport.

Be nominated

You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa.

The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa.

Have business ownership

For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least AUD500,000 turnover in each of those 2 years.

Whether you have 1 or 2 businesses, you must own at least:

  • 51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year
  • 30%, of the total value of the business  if the business has a turnover of AUD400,000 or more per year, or
  • 10%, of the total value of the business if the business is operated by a publicly listed company

If your business provides professional, technical or trade services, you must have spent less than half your time providing those services, rather than general management of the business.

Own personal and business assets of at least AUD800,000

When you are invited to apply for this visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800,000. Your funds must be available to transfer to Australia within 2 years of us granting the visa.

Score at least 65 on the points test

You must score at least 65 points on the points test.

You can get points for many reasons, including your: 

  • age
  • English language ability
  • qualifications
  • business experience
  • net personal and business assets
  • business turnover
  • innovation
  • special endorsement

Have a successful business career

You must have a successful business career and a genuine desire to continuously own and manage a business in Australia.

Be under 55

You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa.  If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit.

Not have a history of involvement in unacceptable activities

You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

Have functional English

All applicants aged 18 or over at the time of application must either have at least functional English or you  will be asked to pay the second instalment of the visa application charge. 

Meet our health requirement

You and any family members who apply for the visa with you must meet our health requirement.

Family members who are not coming to Australia might also meet our health requirement.

Meet our character requirement

You and family members aged 16 years and over who apply for the visa with you must meet our character requirement. 

Family members who are not coming to Australia must also have to meet our meet our character requirement. 

Sign the Australian values statement

If you and your family members who have applied for the visa are 18 years of age or older at the time of application, you and your family members must: 

  • have read, or had explained to you, the Life in Australia book
  • sign an Australian Values Statement that confirms you will respect the Australian way of life and obey Australian laws

Have no debt to the Australian Government

If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back.

Not have had a visa cancelled or a previous application refused

You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia. 

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