Business Innovation and Investment Program subclass 188

The Business Innovation and Investment Visa subclass 188 is a provisional 4-year visa for those individuals who are looking to emigrate to Australia in order to:

  • Set up and run an Australian business.Business Innovation and Investment Visa subclass 188.
  • Own and run an existing Australian business.
  • Invest in an Australian State or Territory.

Holding a Business Innovation and Investment Visa subclass 188 it is the first step to qualifying for permanent residency via the Business Innovation and Investment visa subclass 888.

The different streams under the Business Innovation and Investment Visa subclass 188

There are three different streams under which applications can be made:

1. Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia.

2. Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia.

3. Significant Investor stream: for people who are willing to invest at least AUD5million into complying investments in Australia and maintain business and investment activity in Australia.

How you qualify for a Business Innovation and Investment Visa subclass 188

  • Business Innovation stream

Basic criteria includes:

  • The applicant must be under the age age 55.
  • A score of 65 is required in the Business Innovation and Investment points test.
  • The applicant has been invited by the minister to apply and the business is viewed as of ‘exceptional’ economic benefit to the state or territory in which it is located.
  • There must be proof that the applicant needs to be in Australia to establish or run the proposed business.
  • Be able to meet the public criteria.
  • Meet any criteria as required by the nominating state or territory.

Financial Criteria

  • In at least two of the last 4 years the applicant has had ownership in one or more businesses that had an annual turnover of at least AUD500,000.
  • Have a net value between the applicant and any partner of at least AUD800,000 in personal or business assets.
  • That the sponsoring state or territory is satisfied that the applicant’s and any partner’s assets are of sufficient nature to support them.

Investor Stream

Basic criteria includes:

  • The Applicant must be under the age of 55.
  • A score of 65 is required in the Business Innovation and Investment points test.
  • The applicant has been invited by the minister to apply and the business is viewed as of ‘exceptional’ economic benefit to the state or territory in which it is located.
  • The applicant has a successful record of eligible investment activity, as well as a total of at least three years experience with direct involvement in managing one or more qualifying businesses or eligible investments.
  • That the applicant or partner had ownership of at least 10% of the business or had direct involvement in managing eligible investments that had a net worth of at least AUD1 500 000.
  • Be able to meet the public criteria.
  • Meet any criteria as required by the nominating state or territory.

Financial Criteria

  • In the previous two fiscal years the business and personal assets of the applicant and any partner had a net value of at least $AUD.
  • That the applicant has made a designated appropriate investment of at least AUD1, 500,000 in the applicable State or Territory

Significant Investor stream (suspended until 1 June 2015)

Note: A Significant Investor stream (suspended until 1 June 2015)has been introduced. This option requires an investment of AUD5 million that must be held for at least 4 years into:

  • Commonwealth, state or territory government bonds.
  • Eligible managed funds.
  • Direct investment into private Australian companies – in which you have an ownership interest.

You must also have a genuine and realistic commitment to reside in the state or territory where you were nominated and continue your business and investment activity in Australia after your complying investment matures.

The Significant Investor stream requires you to live in Australia for at least 160 cumulative days over the 4-year period while holding your provisional visa. Applicants does not have to be points tested nor is there any English requirements.

First steps

In exploring the Business Innovation and Investment Visa subclass 188, your first logical step will be to get an assessment of your options. Our comprehensive assessment is a formal written report that outlines your potential qualification for a Business Innovation and Investment Visa subclass 188 and other Australian visa classes.

Importantly it is carried out by our Managing Director, Katrin Maja Maehl, a licensed immigration agent.

Be sure you only deal with licensed immigration agents who feature on the official MARA website here.

Contact Intergate Emigration

You can call us on + 27 (0) 21 202 2800 or e-mail us here.

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