Business Innovation and Investment (Provisional) Visa (Subclass 188)
This visa category offers individuals the opportunity to own and manage businesses in Australia, conduct business and investment activities, or engage in entrepreneurial ventures within the country.
This provisional visa is tailored for individuals possessing business acumen, enabling them to operate either new or existing businesses in Australia.
The main applicant’s visa fee is AUD9,450.00.
Additional charges apply for family members included in the application.
If any applicant aged 18 or older lacks functional English, an additional charge known as the second instalment must be paid upon request. It will be refunded if the visa is not granted.
Visa holders and their family members must adhere to all visa conditions and Australian laws.
Conditions may include restrictions on marriage or entering into de facto relationships before entering Australia.
Business obligations necessitate substantial ownership interest in an Australian business and active senior-level management participation.
Compliance with Australian workplace laws is mandatory.
Processing times vary for this visa category, with a range from a minimum to a maximum:
- 25% of applications: Minimum of 15 Months
- 50% of applications: Approximately 19 Months
- 75% of applications: Around 33 Months
- 90% of applications: Maximum of 36 Months
Eligibility involves submitting an Expression of Interest (EOI) and receiving an invitation to apply after an Australian State or Territory government agency accepts the EOI.
Nomination by an Australian State or Territory government agency is a prerequisite.
The nominating agency must not withdraw their nomination post-application.
Eligibility criteria encompass business ownership, personal and business asset ownership, scoring at least 65 points on the points test, having a successful business career, being under 55 years old (with exceptions), having no history of unacceptable business or investment activities, and demonstrating functional English proficiency.
Immigration history, including visa cancellations or refusals, is considered in the application process.
Frequently Asked Questions
Yes, you can apply for this visa even if you don’t have previous business experience. However, you must meet other eligibility criteria, such as having sufficient assets, scoring a minimum number of points on the points test, and demonstrating a genuine intention to own and manage a business in Australia.
While it is highly recommended to have health insurance to cover unforeseen medical expenses, it is not a mandatory requirement for this visa. However, you will be personally liable for all your healthcare costs while in Australia.
No, family members must be included in your visa application when you initially apply. However, if your spouse or de facto partner did not apply with you initially, they can make a subsequent entrant application for a Subclass 188 visa after your visa is granted.
No, there are no specific travel restrictions within Australia while holding this visa. You can travel outside Australia and return as many times as you want while the visa is valid. The time spent outside Australia does not extend the visa’s duration.
After obtaining this visa, you should primarily engage in the business or investment activity that formed the basis of your application. If you wish to change your business or investment activity significantly, you may need to apply for a new visa or seek advice from the relevant authorities to ensure compliance with visa conditions.
Currently, there are no frequently asked questions available for the Aged Dependent Relative Visa (Subclass 114).