Business Innovation and Investment (Provisional) Subclass 188 Visa

The 188A visa is only available to applicants who are nominated by an Australian State or Territory government and meet the points test for this visa. To be nominated, the applicant must lodge an Expression of Interest (EOI) through the SkillSelect system.

This is a 5-year temporary visa, for people who want to own and manage a new or existing business in Australia. Once established an ownership interest in an Australian business, the applicant can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa. A 2-year extension is possible once the applicant has held the subclass 188 visa for 3 years, giving 6 years from the date of grant of the original Visa.

The applicants can either be in Australia or overseas to lodge this visa.

General 188 Visa Requirements:

Ownership of a business with turnover of at least AUD 750,000 for at least 2 of the last 4 fiscal years; and
Net personal and business assets of at least AUD 1,250,000; and
Under 55 years of age, unless the nominating state or territory certifies that the applicant will make an exceptional economic benefit; and
Meet the pass mark in the Business innovation and investment Points test (currently 65 points)
Have an overall successful career in business

You must score at least 65 points (the pass mark) in the points test to be eligible to apply for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Investor stream.

The points test does not apply to you if you are applying in the Significant Investor stream, the Premium Investor stream, or the Business Innovation Extension stream or the Significant Investor Extension stream.

The test gives points for various elements of human capital and business innovation and includes objective measures of business performance.

Points are awarded for:

age
English language ability
qualifications
experience in business or investment
net personal and business assets
business turnover
innovation.
Points are awarded on the basis of the factors listed in the following table. All factors are assessed as at the time you are invited to apply for this visa, unless otherwise noted.

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