This temporary visa is intended to attract new investment and business talent to Australia, while providing applicants with a pathway to permanent residence in Australia, via the subclass 888 permanent Business Innovation and Investment Visa.
In order to be eligible for the subclass 188 visa, applicants must lodge submit an Expression of Interest (EOI) through the Department’s SkillSelect portal and be nominated by a State or Territory or the Federal Government.
The subclass 188 visa includes five streams, each with a different set of requirements. What they have in common is the requirement for a nomination from a State Government or, depending on the stream, the Federal Government.
Streams requiring nomination by a State or Territory Government:
This stream is for people with business skills who want to establish, develop and manage a new or existing business in Australia.
For people who want to make a designated investment of at least $1.5m in an Australian state or territory and maintain business and investment activity in Australia.
For people who have a funding agreement from a third party for at least $200,000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia.
Stream requiring nomination by a State, Territory or Federal Government:
For people who are willing to invest at least $5m into complying significant investments in Australia and want to maintain business and investment activity in Australia.
Stream requiring nomination by the Federal Government only:
For people who are willing to invest at least $15m into complying premium investments in Australia and want to maintain business and investment activity in Australia.
Whichever stream you choose, this visa allows you to come to Australia (with your family unit) to establish your business or investment, travel without restriction and, when eligible, apply for the subclass 888 permanent Business Innovation and Investment Visa.
These streams, and the conditions around them, are very complicated. Always be sure to obtain advice specific to your situation before making an application, to ensure you have the best chance of success.
Please click the below links for detail on each of the investor migration pathways.
Significant Investor Visa (subclass 891): The applicant must hold an Investor (Provisional)(Subclass 162) visa and maintained a minimum investment of $1.5 million in Australia for four years.
*Note: The subclass 162 visa is no longer open to new applicants*
Business Innovation and Investment Visa (subclass 888): The applicant must hold a provisional Business Innovation and Investment visa (subclass 188), must have been nominated by an Australian State or Territory or the Federal Government and have met the requirements of their current visa.
These visas, and the conditions around them, are very complicated. Always be sure to obtain advice specific to your situation before making an application, to ensure you have the best chance of success.
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