The Subclass 188 Visa is a temporary visa designed for business owners, investors, and entrepreneurs who wish to establish, manage, or invest in a business in Australia. It is part of the Business Innovation and Investment Programme (BIIP) and has several streams catering to different types of business and investment activities.
Streams of the Subclass 188 Visa
- Business Innovation Stream: For people with business skills who want to establish, develop, and manage a new or existing business in Australia.
- Investor Stream: For people who want to make a designated investment of at least AUD 2.5 million in an Australian state or territory and maintain business and investment activity in Australia.
- Significant Investor Stream: For people who want to invest at least AUD 5 million into complying significant investments in Australia and maintain investment activity in Australia.
- Premium Investor Stream: For people who are nominated by Austrade and who invest at least AUD 15 million in Australian investments and/or philanthropic contributions.
- Entrepreneur Stream: For people who have a funding agreement from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity leading to the commercialization of a product or service or the development of a business in Australia.
Key Features
- Temporary Visa: Grants temporary residence in Australia, generally for up to 4 years and 3 months.
- Pathway to Permanent Residency: Provides a pathway to permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888).
- Family Inclusion: Allows you to include your family members in your application.
- Multiple Streams: Caters to a variety of business and investment activities.
Eligibility Criteria
- Nomination: You must be nominated by an Australian state or territory government agency or Austrade.
- Invitation to Apply: You must receive an invitation to apply through the SkillSelect system.
- Points Test: You must score at least 65 points on the points test, which considers factors such as age, English language proficiency, qualifications, experience, and net assets.
- Specific Requirements for Each Stream: Each stream has specific requirements that you must meet, such as business turnover, investment amount, and funding agreements.
- Ownership of Business: You must have ownership interest in one or more businesses that had a minimum turnover of AUD 750,000 for at least two out of the four fiscal years immediately before you are invited to apply.
- Net Assets: You and your partner combined must have net business and personal assets of at least AUD 1.25 million.
- Investment: You must make a designated investment of at least AUD 2.5 million in an Australian state or territory.
- Net Assets: You and your partner combined must have net business, investment, and personal assets of at least AUD 2.5 million.
- Investment: You must invest at least AUD 5 million into complying significant investments in Australia.
- Investment: You must invest at least AUD 15 million in complying premium investments and/or philanthropic contributions.
- Funding Agreement: You must have a funding agreement from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity in Australia.
Required Documents
- Passport: A copy of your valid passport.
- Nomination Approval: Evidence that your nomination has been approved.
- Business and Financial Documents: Documents proving your business ownership, financial status, and investment amounts.
- Health and Character Documents: Medical examination results and police clearance certificates.
- Points Test Evidence: Documents supporting your points test claims, such as qualifications, work experience, and English language proficiency.
Application Process
- Expression of Interest (EOI): Submit an EOI through the SkillSelect system.
- Nomination: Obtain a nomination from a state or territory government agency or Austrade.
- Invitation to Apply: Receive an invitation to apply for the visa.
- Lodge Visa Application: Apply online through the Department of Home Affairs website.
- Submit Documents: Upload all required documents and pay the visa application fee.
- Biometrics and Health Checks: Complete any requested biometrics and health checks.
- Visa Decision: Wait for the visa decision from the Department of Home Affairs.
Cost
| Expense | Cost (AUD) |
|---|---|
| Visa Application Fee | $6,085 (primary applicant) |
| Additional Applicant Fee (18+) | $3,045 |
| Additional Applicant Fee (Under 18) | $1,520 |
| Health Examination | $300 – $500 (approx.) |
| Police Clearance Certificates | Varies by country |
Visa Processing Time
- Business Innovation Stream: 75% of applications processed within 25 months; 90% within 32 months.
- Investor Stream: 75% of applications processed within 25 months; 90% within 32 months.
- Significant Investor Stream: 75% of applications processed within 9 months; 90% within 11 months.
- Premium Investor Stream: Processing times vary based on individual circumstances.
- Entrepreneur Stream: 75% of applications processed within 15 months; 90% within 23 months.
Processing times can vary based on the complexity of the case and the completeness of the application.
Key Points to Remember
- Nomination and Invitation: Must be nominated by an Australian state/territory government or Austrade and receive an invitation to apply.
- Investment Requirements: Ensure you meet the specific investment or business requirements for your chosen stream.
- Pathway to Permanent Residency: Provides a pathway to apply for permanent residency through the Subclass 888 visa.
- Health Insurance: Maintain adequate health insurance for the duration of your stay.
- Visa Conditions: Comply with all visa conditions, including maintaining your investments or business activities as outlined in your visa application.
The Business Innovation and Investment Visa (Subclass 188) offers various opportunities for businesspeople and investors to contribute to the Australian economy while potentially leading to permanent residency. By understanding the eligibility criteria, preparing the required documents, and following the application process carefully, you can embark on a successful business or investment venture in Australia.
Why Choose Globalvisanet?
Globalvisanet Overseas Careers stands out as our consultant , and our track record speaks for itself. We’ve successfully served our customers.
Explore the World with Globalvisanet:
- Visit Visa: Whether for leisure or business, embark on global travel with Globalvisanet.
- Study Visa: Unlock opportunities to study in globally recognized universities.
- Work Visa: Settle in the world’s best cities and pursue your career ambitions.
- Immigration: Your comprehensive solution for all visa and immigration requirements.
- Permanent Residence: Attain the status of Permanent Resident and enjoy exclusive benefits.
Tailored Services for Your Success:
- Profile Evaluation: We analyze your unique profile history, aligning it with visa eligibility criteria, and provide guidance on the appropriate visas to pursue.
- Resume Writing: Craft a standout resume tailored to meet the expectations of immigration authorities.
- Document Procurement: Assist in gathering essential documents required for visa applications.
- Professional Guidance: From interview training to language courses and crafting impactful resumes and cover letters, we offer comprehensive support.
- Dedicated Case Officer: Enjoy personalized assistance and a singular point of contact throughout the entire process.
- Post-Landing Services: Our support extends beyond visa approval, helping you settle comfortably in your new country with customized post-landing services.
Experience a seamless journey for all your visa needs with Globalvisanet – from profile evaluation and document preparation to post-visa settlement services. If you have questions about filing the AIPP application, reach out to us immediately. We are here to assist you in every possible way.
Here You Can See the Most Popular Countries for investment. Click the Country name: