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Permanent Business (Subclass 888)

The Business Innovation and Investment (Provisional) visa enables you to possess as well as manage a business across Australia, conduct a legible and approved business and investment activity across Australia or undertake an authentic entrepreneurial activity anywhere in Australia 

Basic Eligibility Criteria:

  • Submit expression of interest (EOI) in the SkillSelect portal
  • Nominated by a state or territory government of Australia or Austrade 
  • Invited to apply (ITA) for this particular visa 

The various immigration streams under Business Innovation and Investment (Permanent) Subclass 188 Visa

  • Business Innovation stream 

The Business Innovation Stream visa is a provisional visa and is specially designed for those individuals that possess appropriate business skills. The visa stream lets you operate either an entirely new or existing business across Australia.

Stay: Maximum 4 years and 3 months 

Cost: Starting from AUD 5,375

To apply for this visa:

  • you must operate and manage either a new or existing business across Australia 
  • you must be nominated or sponsored by a state or territory government of Australia
  • Investor Stream 

The Investor stream visa which comes under the Business Innovation and Investment (Provisional) visa has a mandatory requirement to invest a minimum amount of AUD 1.5 million in one of the state or territories of Australia and also sustain a specific business or investment activity across Australia. 

Stay: Maximum 4 years and 3 months

Cost: Starting from AUD 5,375

To apply for this visa:

  • You must make an investment equivalent to AUD 1.5 million in one of the state or territories across Australia 
  • You must receive a nomination from a state or territory government of Australia 
  • Significant Investor Stream 

The Significant Investor stream visa that comes under the Business Innovation and Investment (Provisional) visa or the Subclass 188 visa is a provisional visa and is designed for those individuals who can make an investment of a minimum amount of AUD 5 million in an investment activity across Australia. 

Stay: Maximum 4 years and 3 months 

Cost: Starting from AUD 7,880

To apply for this visa:

  • you must invest a minimum amount of AUD 5 million towards a required and significant investment across Australia 
  • you must receive nomination from a state or territory government of Australia or from Austrade
  1. Business Innovation Extension stream 

The Business Innovation Extension stream is a provisional visa which allows holders of Business Innovation and Investment (Provisional) visa (Subclass 188) under the Business Innovation stream to extend their stay in the country for a period of 2 years. 

Stay: 6 years after the date of the grant mentioned on the original Business Innovation and Investment (Provisional) visa (Subclass 188) Innovation stream that you must be holding during the time of application submission 

Cost: Starting from AUD 645

Details:

  • extend your stay for a maximum period of 2 years or more. This implies that you can live in Australia for a total duration of 6 years from the date of your grant of Subclass 188 visa which operates under the Business Innovation stream.
  • you can only possess one Business Innovation and Investment (Provisional) visa (Subclass 188)
  • you should hold a Subclass 188 visa under the Business Innovation stream 
  • you should possess your Subclass 188 visa under the Business Innovation stream for a minimum period of 3 years 
  • you should be nominated by a state or territory government agency of Australia 
  • Significant Investor Extension stream

The Significant Investor Extension stream is a provisional visa which enables holders of Business Innovation and Investment (Provisional) visa (Subclass 188) which operates through the Significant Investor stream to extend their stay for a upto 4 years or even more than that. 

Stay: Extend your stay for upto four years 

Cost: Starting from AUD 645

Details:

  • Extend your stay in Australia for a maximum period of 4 years. This implies that you can stay in Australia for complete 8 years from the date mentioned on your grant of Subclass 188 visa under the Significant Investor stream. 
  • You should hold a Subclass 188 under the Significant Investor stream for minimum 3 years, or a Subclass 188 visa under the Significant Investor Extension stream. 
  • You cannot possess more than one Subclass 188 visa under the Significant Investor Extension stream. 
  • you should be nominated by a state or territory government agency of Australia.
  • Premium Investor stream 

The Premium Investor stream is a provisional visa and is designed for individuals who are being nominated directed by the Austrade and who can invest a minimum amount of AUD 15 million towards the Australian investments and/or in the form of philanthropic contributions. 

Stay: 4 years and 3 months in total 

Cost: Starting from AUD 9,455

To apply for this visa:

  • You should invest AUD 15 million towards an investment activity present across Australia and/or in the form of philanthropic contributions that meet some specific requirements.
  • You should receive nomination from Austrade.
  • Entrepreneur stream 

The Entrepreneur stream visa is a provisional visa which allows you to carry out significant and legitimate entrepreneurial activities anywhere in Australia. 

Stay: 4 years and 3 months in total

Cost: Starting from AUD 4,045

To apply for this visa:

  • You should possess a funding agreement in association with a third-party as it is necessary to carry out required entrepreneurial activities.
  • You should first receive nomination from a state or territory government of Australia.

The visa enables you to:

  • carry out entrepreneurial activity anywhere in Australia. 
  • bring along eligible members of your family on the same visa.
  • apply gradually for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Entrepreneur stream in case all the requirements would be met.

You should:

  • undertake or should propose to undertake a significant entrepreneurial activity across Australia 
  • possess a funding agreement of a minimum amount of AUD 200,000 to accomplish entrepreneurial activity across Australia 
  • submit a business plan for your proposed entrepreneurial activity 
  • have minimum competent English 

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