Subclass 188 — Business Innovation and Investment (Provisional) — immi.wiki

The Subclass 188 Business Innovation and Investment (Provisional) visa is a provisional visa for business people, investors, and entrepreneurs nominated by a state or territory government. It has five streams: Business Innovation (for business owners), Investor (for experienced investors), Significant Investor (for investors committing AUD 5 million), Premium Investor (for investors committing AUD 15 million), and Entrepreneur (for entrepreneurs with a backing agreement from a specified entity). The Subclass 188 leads to permanent residence via the Subclass 888.

Business Innovation stream

• Business ownership interest (at least 30% for SMEs; 10% for larger businesses) in a main business with turnover of at least AUD 750,000 per year (in 2 of the 4 preceding fiscal years)
• Net business and personal assets of at least AUD 800,000
• Points test: minimum 65 points on the business innovation and investment points test
• Age: under 55 (waivable by state/territory)
• Business English (IELTS 4.5 per band)
• State/territory nomination

Significant Investor stream

• Commit at least AUD 5 million into Complying Significant Investments (CSIs) as directed by AUSTRAC and the Department
• No age limit
• No English requirement
• State/territory nomination

The process begins with a state/territory government Expression of Interest assessment, followed by nomination, then a visa application to the Department of Home Affairs. Business, financial, and investment evidence is assessed at each stage.

Subclass 188 holders must maintain their business, investment, or entrepreneur activities in Australia during the provisional visa period. Standard conditions apply based on the stream. After meeting the provisional requirements, the holder may apply for the Subclass 888 permanent visa.