Business and Innovation Stream (188A)

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AUSTRALIAN BUSINESS VISA (188A VISA)

Business Innovation Stream

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In the past few years, approximately 7,200 to 7,700 visas have been granted for Business Innovation & Investment (Provisional) (Subclass 188) visa. The Business Innovation & Investment (Provisional) (Subclass 188) visa is available to applicants who are nominated by an Australian State or Territory government and meet the points test for this visa. In order to be nominated, the applicant has to lodge an Expression of Interest (EOI) through the SkillSelect system.

This is a 4-year temporary visa and the application fee is $5,375 (AUD) in 2019. This visa is for applicants who want to own and manage a new or existing business in Australia.

 

Pathway to Permanent Residence:

 

  • Business Innovation & Investment (Provisional) (subclass 188) – 1st  Stage
  • Business Innovation & Investment (Permanent)  (subclass 888) – 2nd Stage

 

The applicants can either be in Australia or overseas to lodge this visa. If the applicant is onshore, he/she must hold a Substantive Visa or a Bridging A, B or C visa.

7,700 BIIVs were issued from a total migration program of 190,000 visas

Australian Business Visas

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2 Types of Business Visas

From the Business Innovation & Investment Visas (the BIIV) Program, there are two main suites of business visas:

  • The permanent stream: Business Talent subclass 132; and
  • The provisional stream: Business Innovation & Investment (Provisional) visas subclass 188.

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General Requirements

The applicant should: 

  • be under 55 years old
  • have overall successful business record
  • have Acceptable Qualifying Business and/or investments
  • have realistic commitment/& participation in the business
  • have No illegal business activities

 

No age limitations for the Significant Investor Visa (subclass 188c) and the Premium Investor Visa (subclass 188d).

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General Requirements - Continue

  • Business & personal assets are lawfully acquired
  • Business & Ppersonal asset are available for transfer
  • Genuine desire to own & manage Australian business
  • Tpplicant must NOT engaged directly in the services of that business
  • Source of funds can be proven

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SkillSelect – The Process

  1. EOI Preparation
  2. Lodgement of EOI
  3. Invitation to apply for visa;
  4. Application for Visa; &
  5. Visa Decision: Grant or Refusal

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State/ Territory Government Sponsorship

  • Departmental requirements do not guarantee sponsorship
  • Having State or Territory sponsorship does not guarantee a visa
  • State or Territory Governments often impose higher requirements than the legislation
  • Refer to State & Territory Government websites for sponsorship guidelines

FACTOR DESCRIPTION POINTS
Age 18–24 years 20
25–32 years 30
33–39 years 25
40–44 years 20
45–54 years 15
55 and older 0
English Vocational English (IELTS 6) 5
Proficient English (IELTS 7) 10
Qualifications Australian trade certificate, diploma or bachelor degree by an Australian education institute; ora bachelor qualification recognised by an education institution of a recognised standard 5
Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognised standard 10
Special endorsement The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located 10
Financial assets Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
AUD800 000 5
AUD1.3 million 15
AUD1.8 million 25
AUD2.25 million 35
Business turnover Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
AUD500 000 5
AUD1 million 15
AUD1.5 million 25
AUD2 million 35
Business experience (Only for Business Innovation Stream) You have held one or more businesses before you were invited to apply for the visa for:
Not less than four years within the preceding five years 10
Not less than seven years within the preceding eight years 15
Investor experience (Investor stream only) Eligible investment of at least AUD100 000 held for:
At least four years before the time of invitation to apply for the visa 10
At least seven years before the time of invitation to apply for the visa 15
Business innovation qualifications (At the time of invitation to apply for the visa*) Evidence of registered patents or registered designs 15
Evidence of registered trademarks 10
Evidence of formal joint venture agreements 5
Evidence of export trade 15
Evidence of ownership interest in a gazelle business 10
Evidence of receipt of grants or venture capital funding 10
State or territory nomination Special endorsement (limited places) 10

Book an appointment today with our Registered Migration Agents in Sydney

CALL NOW 0403 118 515

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