This visa is for people who want to own and manage a new or existing business in Australia, or to invest in an Australian state or territory.
You might be able to get this visa if you are nominated by a state or territory government agency and are invited to apply by the Minister for Immigration and Border Protection.
About this visa:
The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Programme.
You must submit an Expression of Interest (EOI) through SkillSelect and be nominated by a state or territory government before being invited to apply for this visa.
The visa includes three streams:
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 AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia.
Significant Investor stream: for people who are willing to invest at least AUD5million into complying investments in Australia and want to maintain business and investment activity in Australia.
Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).
What This Visa Lets You Do:
- establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government or make and maintain complying investments in Australia
- travel in and out of Australia for the life of your visa
- bring family members with you to Australia
- seek permanent residence by applying for a Business Innovation and Investment (Permanent) visa (subclass 888).
Before You Apply:
To be able to apply for this visa, you must first submit an Expression Of Interest(EOI)
and then be invited through SkillSelect to apply.
You may then be nominated before being invited to apply.
Your EOI must specify:
- which stream you intend to apply under
- whether you are interested in doing business or making investment in just one or more Australian states and territories.
When you have submitted your EOI, a state or territory government could view it and decide whether to nominate you to apply for a visa. State and territory authorities have their own criteria for deciding who to nominate. In some cases, the authority might contact you before you are nominated to discuss employment possibilities. In others, the authority will wait for you to contact it.
If you receive an invitation, you will have 60 days to apply online for the visa. During that time, you cannot change the information in your EOI. If your first invitation expires, you do not have to submit a new EOI. Your EOI will be automatically reverted to 'submitted' status in SkillSelect. State or territory governments can access and review your EOI and nominate you again if they wish. You will receive a second invitation upon being nominated again from a state or territory government. If you receive two invitations to apply for a visa and you do not lodge an application, your EOI will be removed from SkillSelect. If you still want to apply for the visa, you will need to submit a new EOI.
Although you do not need to provide supporting documents with an EOI, your visa application is likely to need extensive supporting documentation, as listed in the document checklist. Start compiling your documents early in the process, so you can respond within the 60 days if you receive an invitation.
Information about nomination requirements, business and employment in various states and territories is available on their websites:
Australia Business Innovation Investment (Provisional) visa (subclass 188)...Australia Business Innovation Investment (Provisional) visa (subclass 188)