This provisional visa stream requires you to invest at least AUD 1.5 million in an Australian state or territory and hold that investment or business activity in Australia. Holders of this visa stream can bring their eligible family members with them and stay up to 4 years and 3 month in Australia. They can apply for a permanent Business Innovation and Investment visa (subclass 888) Investor stream if they meet the requirements. The application fee for the main applicant is AUD 5,375.* This fee does not include other costs such as medical test.
- Applicants must be nominated by an Australian state or territory government agency, or Austrade. If the nomination is withdrawn you will not be granted a visa.
- You must obtain a minimum score of 65 from the Points Test.*
- You must have at least 3 years of successful experience in managing one or more eligible businesses or investments.
- You must have showed high degree of management skills in relation to those businesses or investments.
- You must be committed to live for at least 2 years in the designated state or territory.
- You must have managed an eligible business or investment worth AUD 1.5 million. For at least 1 out of 5 fiscal years immediately before invitation to apply for this visa, you, your partner, or both of you together must have been directly managed one of the following:
- a qualifying business with at least 10% in your ownership, or
- an eligible business of at least AUD 1.5 million owned.
- For the 2 years immediately before invitation, you, your partner, or both of you together must have total net business and personal assets of at least AUD 2.25 million. These assets must be available for transfer to Australia within 2 years of the date of visa granted.
- You must invest at least AUD 1.5 million in the state or territory that has nominated you. The investment can be in your name or in your name and your partner’s name. You must maintain the designated investment for at least 4 years. It is one of the criteria that make you eligible to apply for a permanent visa (subclass 888) Investor stream.
- You must be under 55 years of age when you are invited to apply. If you are 55 or older, you might be invited if your business will have exceptional economic benefit.
- At the time of application, you and other applicants over the age of 18 must provide proof of at least Functional English (IELTS score of 4.5 or equivalent), otherwise, you will be asked to pay extra charge.
- You and your family members included in your application must meet the health and character requirements.
- You must not have any outstanding debt to the Australian Government.
You might not be eligible for this visa if you have had your visa cancelled or a previous visa application refused while you were in Australia.
As an applicant for this visa
- You may be in or outside Australia to lodge a valid application and when the visa is decided on.
- You can include members of the family unit in the application when you lodge the visa application or after that but before your visa is decided on.
- When lodging your application, you must provide supporting evidence for your claims.
As a holder of this visa
- You can make investment and do business activities in Australia.
- You can stay in Australia for up to 4 years and 3 months.
- You are allowed to travel in and out of Australia as many times as you want, while your visa is valid.
- You are recommended to arrange adequate health insurance for you and your family members while you are in Australia. See what is considered adequate health insurance here.
- You must meet your obligations under this visa, including:
- You must live for at least 2 years in the designated state or territory.
- You must maintain the designated investment for at least 4 years.
- You must comply with Australian workplace laws.
- Your income the investment in Australia is liable to Australian taxation law.
- If certain requirements are met, you can apply for a permanent Business Innovation and Investment visa (subclass 888) Investor stream and become an Australian permanent resident.
You can score points based on the following criteria which are assessed at the time of invitation:
- Age (0, 15, 20, 25, or 30 pts)
- English language skills (5 or 10 pts)
- Educational qualifications (5 or 10 pts)
- Financial assets (5, 15, 25, or 35 pts)
- Business turnover (5, 15, 25, or 35 pts)
- Investor experience (10 or 15 pts)
- Special endorsement (10 pts)
- Business innovation qualification (5, 10, or 15 pts)
Please click here to see the points table for Business Innovation and Investment (Provisional) visa (subclass 188).
* Fees and minimum score of 65 were true at the time of compiling this document, but they are subject to change. Please contact us for the latest updates on this visa.
Note: All documents should be originally in English or officially translated into English.
Please note that the above content is for general information only and must not be taken as immigration or travel advice. The content was up-to-date at the time of the last update but being current and accurate cannot be always guaranteed due to the frequent changes in immigration law. Please contact us for advice and information on the latest immigration laws in Australia.
Access: 14 August 2020