Business Innovation and Investment (Provisional) visa (subclass 188)

This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia.

Basic Eligibility

  • Submit expression of interest (EOI) in SkillSelect
  • Nominated by a State or Territory government agency or Austrade 
  • Invited to apply for the visa

Business Innovation stream

This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.

What can you do with the Business Innovation stream visa?

On the Business Innovation stream, you can:

  • operate a new or existing business in Australia
  • stay in Australia for up to 5 years
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream if certain requirements are met.

How long you can stay on this visa?

The Business Innovation stream is a provisional visa. You can stay in Australia for up to 5 years if you were invited to apply for this visa on or after 1 July 2021.

If you applied after 1 July 2015, and were invited to apply for this visa before 1 July 2021, you can stay in Australia for up to 4 years and 3 months.

The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid.

The visa starts on the date it is granted.

Do you want to stay in Australia longer?

This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream if certain requirements are met.

If you need more time to apply for permanent residence, you can apply for a new Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation Extension stream. If granted, you will be able to travel to, enter and remain in Australia for up to 7 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream.

Are family members included on this visa?

Yes – you can include members of your family on your visa application when you apply. You can also add dependent children on your application at any time before the Department of Home Affairs decided on your application.

Any family members that are included on your visa must meet the Department of Home Affairs character and health requirements.

Where can you apply for this visa?

If you would like to apply for the Business Innovation stream, you can be in or outside Australia when you apply for the visa and when the Department of Home Affairs decide on your application, but not in immigration clearance.

What are your visa obligations?

You and your family members who are part of your application must comply with all visa conditions and Australian laws.

Business obligations

While the holder of this visa, you must:

  • have a substantial ownership interest in a business in Australia
  • take part in its day-to-day management, at a senior level

In the business, you must do at least one of these things:

  • add to commercial activity and competitiveness within the Australian economy
  • develop business links with international markets
  • employ people in Australia
  • export Australian goods
  • introduce new or improved technology, or
  • produce goods or services that Australia would otherwise import

Adhere to Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

You must meet workplace laws when operating your business in Australia.

Health insurance

It is recommended you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia.

Where can you travel to and from?

You can travel outside Australia and return as many times as you want while the visa is valid.

BEWARE: The time you spend outside Australia does not extend the visa.

Visa label

Australian visas are digital nowadays. There is no physical visa label that will go into your passport. Instead, the Department of Home Affairs links your digital visa to your passport.

What are the eligibility requirements for the Business Innovation stream?

Nominated by Australian State or Territory government agency

You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa.

The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or the Department of Home Affairs will be unable to grant you a visa.

Business ownership

For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least:

  • AUD $500,000 turnover in each of those 2 years if you were invited to apply before 1 July 2021
  • AUD $750,000 turnover in each of those 2 years if you were invited to apply on or after 1 July 2021

Whether you have 1 or 2 businesses, you must own at least:

  • 51%, of the total value of the business if the business has a turnover of less than AUD $400,000 per year
  • 30%, of the total value of the business if the business has a turnover of AUD $400,000 or more per year, or
  • 10%, of the total value of the business if the business is operated by a publicly listed company

If your business provides professional, technical or trade services, you must have spent less than half your time providing those services, rather than general management of the business.

Personal and business assets

When you are invited to apply for this visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least:

  • AUD $1,250,000 if you were invited to apply on or after 1 July 2021.
  • AUD $800,000 if you were invited to apply before 1 July 2021

Your funds must be available to transfer to Australia within 2 years of the Department of Home Affairs granting the visa.

Score at least 65 on the points test

You must score at least 65 points on the points test.

You can get points for many reasons, including your: 

  • age
  • English language ability
  • qualifications
  • business experience
  • net personal and business assets
  • business turnover
  • innovation
  • special endorsement

Business career

You must have a successful business career and a genuine desire to continuously own and manage a business in Australia.

Be under 55

You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa. If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit.

Involvement in unacceptable activities

You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia. Involvement in unacceptable activities will put your visa application in serious doubt and could block your visa application.

English language requirement

All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge. 

Health requirement

You and any family members who have applied for the visa must meet the Department of Home Affairs health requirement.

Family members who are not coming to Australia might also meet our health requirement.

Character requirement

For you and any family members aged 16 years and over who apply on the visa with you, must meet the Department of Home Affairs character requirement.

Family members who are not coming to Australia must also have to meet our meet our character requirement. 

Debt to the Australian Government

If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back.

Have you had a visa cancelled or previous visa application refused?

If you have had a visa cancelled or visa application refused whilst you were in Australia, you may not be eligible for this visa.

Do you want to apply for the Business Innovation stream?

If you’ve read through the above information, contact our team of registered migration agents to assist you through the visa application process.

Investor stream

This provisional visa requires you to invest at least AUD $2.5 million in Australian investments that meet certain requirements and maintain business or investment activity in Australia.

What can you do on the Investor stream?

On the Investor stream, you can:

  • carry out business and investment activity in Australia
  • stay in Australia for up to 5 years
  • bring eligible members of your family unit with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met

How long you can stay in Australia on this visa?

The Investor stream is a provisional visa. You can stay in Australia for up to 5 years if you were invited to apply on or after 1 July 2021.

If you applied after 1 July 2015 and were invited to apply for this visa before 1 July 2021, you can stay in Australia for up to 4 years and 3 months.

The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid, however the visa is only valid from the date that the Department of Home Affairs granted it.

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer.

Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met.

Can you include family on this visa?

Yes – you can include family members in your visa application when you apply. You can also add your dependent child to your application at any time before the Department of Home Affairs decide on your application.

Any family members that are included on the visa application must meet the Department of Home Affairs health and character requirements.

Where can you apply from?

You can be in or outside Australia when you apply for the visa and when the Department of Home Affairs decide on your application, but not in immigration clearance.

Your obligations

You and your family members who are part of your application must comply with all visa conditions and Australian laws.

In particular, you must commit to continue to maintain your investment and comply with Australian workplace laws.

To be eligible for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Investor stream, you must live in the State or Territory in which you made the designated investment for at least 2 years during the period your provisional visa is valid.

Maintain your investment

If you were invited to apply on or after 1 July 2021

You must make a complying significant investment of at least AUD $2.5 million. You must hold complying significant investments continuously for the life of your provisional visa.

You can switch between complying significant investments if:

  • you reinvest the funds you withdraw from an investment into other complying significant investments within 30 days
  • the sum withdrawn is the same as, or less than, the sum reinvested irrespective of any gains and losses due to market exposures

If you reinvest funds into a complying significant investment within 30 days, the Department of Home Affairs count that as holding them continuously.

If you withdraw funds from venture capital or emerging company investments, you must reinvest the funds into venture capital or emerging companies.

If you withdraw funds from the ‘balancing investment’ category of investments, you can reinvest them into another balancing investment, venture capital or emerging companies.

If you withdraw funds from venture capital because the venture capital investment has been realised, you must reinvest those funds. You can reinvest them in any eligible complying significant investment.

Income that you earn from your complying significant investment in Australia may be subject to tax under Australian taxation law.

Our team has extensive experience in ensuring that your investment is a complying significant investment. Our team can ensure your responsibilities and investment options comply with the visa’s requirements.

Where can you travel to and from?

You can travel outside Australia and return as many times as you want while the visa is valid. The time you spend outside Australia does not extend the visa.

It’s important to note the date once the visa is granted.

Visa label

Australian visas are digital, which means the Department of Home Affairs no longer puts a visa label in your passport.

The digital visa record is linked to your passport.

What are the eligibility requirements for the investor stream?

Be nominated by an Australian State or Territory government agency

You must be nominated by an Australian State or Territory government agency before being invited to apply for this visa.

The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or the Department of Home Affairs will be unable to grant you a visa.

Own and manage business and personal assets and investments 

You must:

Have managed a qualifying business or investments to the value of at least AUD $1.5million. 

For at least 1 of the 5 fiscal years immediately before the Department of Home Affairs invites you to apply, have directly managed one of the following:

  • a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or
  • an eligible investment of at least AUD $1.5 million owned by you, your partner or you and your partner combined.

Have required assets

For the 2 fiscal years immediately before the Department of Home Affairs invites you to apply, you, your partner, or you and your partner together, have business and personal assets with a net value of at least AUD $2.5 million if you were invited to apply on or after 1 July 2021.

These assets must have been lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted.

Invest in Australia

If you were invited to apply on or after 1 July 2021

If you were invited to apply for this visa on or after 1 July 2021, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD $2.5 million. You must hold complying significant investments continuously for the life of your provisional visa.

It must be invested in the following proportions:

  • at least AUD $500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
  • at least AUD $750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange (ASX)
  • a ‘balancing investment’ of at least AUD $1.25 million in managed funds

The managed funds can invest in a range of assets, including companies listed on the Australian Stock Exchange, Australian corporate bonds or notes, annuities and commercial real estate.

The Department of Home Affairs prohibit direct investment in residential real estate. They strictly limit indirect investment in residential property through managed funds.

You must not use investments as security or collateral for a loan.

Right experience 

You must:

  • have at least 3 years’ experience managing one or more qualifying businesses or eligible investments
  • have a successful record of eligible investment or qualifying business activity
  • have demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity

Points test requirement

To be eligible for this visa you must score at least 65 points on the points test.

You can get points for many reasons, including your: 

  • age
  • English language ability
  • qualifications
  • business experience
  • net personal and business assets
  • business turnover
  • innovation
  • special endorsement

Intend to live in a specific State or Territory

You must have a genuine intention to live for at least 2 years in the State or Territory in which you have made the investment application. Failure to do so can cause issues for your visa in the future.

Be under 55

You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa, unless the State or Territory government agency has determined your investment will be of exceptional economic benefit.

Involvement in unacceptable activities

You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

English language requirement

All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge to the Department of Home Affairs.

Health requirement

You and any family members who were included on the visa application must meet the Department of Home Affairs health requirement.

Family members who are not coming to Australia may also have to meet our health requirement.

Character requirement

You and family members aged over 16 years who applied for the visa, must meet the Department of Home Affairs character requirement.

The Department of Home Affairs may also ask that other family members meet the requirement.

Debt to the Australian government

If you or any family members owe the Australian Government money, you or they must show that it has been paid back or there is an approved arrangement in place to pay it back.

Have you had a previous visa cancelled or application refused?

You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia. It’s important to discuss all your previous dealings with our team of registered migration agents to see what options you may have.

What happens once the investor stream is granted?

Maintain your investment

If you were invited to apply on or after 1 July 2021, you must hold a complying significant investment continuously for the life of your provisional visa.

Income that you earn from your investment in Australia is subject to Australian taxation law.

Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law that must be adhered to at all times.

If you operate a business in Australia, you must comply with workplace laws.

Apply for permanent residence

Once you have the provisional visa, you can apply for the Business Innovation and Investment (Permanent) visa (subclass 888) in the Investor stream if certain requirements are met.

If you applied for a subclass 188 visa in any stream prior to 1 July 2015, your visa will be valid for four years. If this applies to you, you will be eligible to apply for a subclass 888 permanent visa after 3 years and 11 months.

Our team have assisted many clients with their permanent residency applications. Contact our team today to discuss your permanent residency options.

Do you want to apply for the Investor stream?

If you’ve read through the above requirements for the Investor stream and want to apply for this visa, contact our team of registered migration agents who can assist you through the process.

Significant Investor stream

This provisional visa is for people who invest at least AUD $5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.

What can you do on the Significant Investor stream visa?

On the Significant Investor stream visa, you can:

  • carry out investment activity in Australia
  • stay in Australia for up to 5 years
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met

How long you can stay on this visa for?

The Significant Investor stream visa is a provisional visa. You can stay in Australia for up to 5 years if you were invited to apply on or after 1 July 2021.

If you applied after 1 July 2015 and were invited to apply for this visa before 1 July 2021, you can stay in Australia for up to 4 years and 3 months.

If you applied for this visa before 1 July 2015, you could stay in Australia for 4 years.

The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid. The visa starts on the date that the visa is granted by the Department of Home Affairs.

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer.

Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream if you meet certain requirements.

If you need more time to apply for permanent residence, you can apply for a new Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream.

If granted, you will be able to travel to, enter and remain in Australia for up to 7 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream.

You can also apply for a second Significant Investor Extension stream visa. If granted, you will be able to travel to, enter and remain in Australia for up to 9 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream.

Can you include family on this visa?

Yes – you can include members of your family on your visa application when you apply. You can also add dependent children to your application at any time before the Department of Home Affairs decides on your application.

Any family members that are included on the visa application must meet the Department of Home Affairs health and character requirements.

Where can you apply from?

You can be in or outside Australia when you apply for the visa and when the Department of Home Affairs decides on your application, but not in immigration clearance.

Visa obligations

You and your family members who are part of your application must comply with all visa conditions and Australian laws.

Business obligations

While the holder of this visa, you must have a genuine and realistic commitment to:

  • you and/or your spouse or de facto partner must have a genuine intention to live in the State or Territory whose government agency nominated you
  • continue business and investment activity in Australia after your visa ends

You must also maintain your investment for the whole of the visa period and comply with Australian workplace laws.

To be eligible for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream, you must also live in Australia for at least 40 days per year for the duration of your provisional visa. Or your spouse or de facto partner must live in Australia for at least 180 days per year for the duration of your provisional visa. These days do not need to be consecutive.

Maintain your investment

You must make a complying significant investment of at least AUD $5 million. You must hold complying significant investments continuously for the life of your provisional visa.

You can switch between complying significant investments if:

  • you reinvest the funds you withdraw from an investment into other complying significant investments within 30 days
  • the sum withdrawn is the same as, or less than, the sum reinvested irrespective of any gains and losses due to market exposures

If you reinvest funds into a complying significant investment within 30 days, the Department of Home Affairs count that as holding them continuously.

If you withdraw funds from venture capital or emerging company investments, you must reinvest the funds into venture capital or emerging companies.

If you withdraw funds from the ‘balancing investment’ category of investments, you can reinvest them into another balancing investment, venture capital or emerging companies.

If you withdraw funds from venture capital because the venture capital investment has been realised, you must reinvest those funds. You can reinvest them in any eligible complying significant investment.

Income that you earn from your complying significant investment in Australia may be subject to tax under Australian taxation law.

Note that the investment rules that were in force at the time that you applied for your Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream will continue to apply for the duration of your visa. This includes any Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream visas you apply for that relate to your visa.

Our team of registered migration agents and immigration lawyers can provide you with migration advice to ensure that your investment is a complying significant investment to obey the visa requirements.

Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

If you operate a business in Australia, you must comply with workplace laws. 

Where can you travel to and from?

You can travel outside Australia and return as many times as you want while the visa is valid.

The time you spend outside Australia does not extend the visa.

Visa label

Australian visas are now digital and linked digitally to your passport. There are no longer physical visa labels that go into your passport.

What are the eligibility requirements for the Significant Investor stream?

Be nominated

You must be nominated by an Australian State or Territory government agency or Austrade before being invited to apply for this visa.

The State or Territory government agency or Austrade that nominates you must not withdraw their nomination after you apply, or the Department of Home Affairs will be unable to grant you a visa.

Be able to invest at least AUD $5 million

If you were invited to apply on or after 1 July 2021

If you were invited to apply on or after 1 July 2021, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD5 million when the Department of Home Affairs invite you to and have a genuine intention to hold that investment for the life of your provisional visa.

It must be invested in the following proportions:

  • at least AUD $1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
  • at least AUD $1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange (ASX)
  • a ‘balancing investment’ of at least AUD $2.5 million in managed funds

The managed funds can invest in a range of assets, including companies listed on the Australian Stock Exchange, Australian corporate bonds or notes, annuities, and commercial real estate.

Direct investment in residential real estate is prohibited. Indirect investment in residential property through managed funds is strictly limited.

You must not use investments as security or collateral for a loan.

History of involvement in unacceptable activities

You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia. If you do have a history, this can affect your visa application severely.

English language requirement

All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge to the Department of Home Affairs.

Health requirement

You and any family members included on the visa application must meet the Department of Home Affairs health requirement.

Family members who are not coming to Australia might also have to meet our health requirement.

Character requirement

You and any family members aged 16 years or over who are included in the visa application must meet the Department of Home Affairs character requirement.

Family members who have not applied for this visa must also meet the character requirement.

Debt to the Australian government

If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back

Have you had a visa cancelled or a previous application refused?

If you have had a visa cancelled or application refused while you were in Australia, you may not be eligible for this visa.

Discuss your history with our team so we can find out the best migration option for you.

What happens once the Significant Investor stream is granted?

Maintain your investment

You must hold a complying significant investment continuously for the life of your provisional visa.

Income that you earn from your investment in Australia is subject to Australian taxation law.

Follow Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

How long can you stay?

This is a provisional visa. You can stay in Australia for 4 years and 3 months. If you applied before 1 July 2015, you could stay for 4 years. The provisional visa starts on the date that the Department of Home Affairs grants it.

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence if certain requirements are met. 

Applying for permanent residence

Once you have the provisional visa, you can apply for the Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met.

If you applied for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream prior to 1 July 2015, you will be eligible to apply for a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream after 3 years and 11 months.

Extend your stay in Australia

If you need more time to apply for permanent residence, you can apply for a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream to extend your stay in Australia.

A person can be granted a maximum of 2 visas in this stream. 

Where can I travel to?

This is a multiple entry visa. You can travel outside Australia and return as many times as you want while the visa is valid.

The time you spend outside Australia does not extend the visa.

Bringing family 

After you are granted this visa, if members of your family want to apply for the same visa, they must submit a separate online application. Any additional family members are called ‘subsequent entrants’.

Our team of registered migration agents and immigration lawyers can assist you with any family members who wish to apply as subsequent entrants.

Contact our team today to discuss your migration options.

Do you want to apply for the Significant Investor stream?

If you’d like to apply for the Significant Investor stream, please contact us today to discuss with our team of registered migration agents and immigration lawyers.

Business Innovation Extension stream

This provisional visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream extend their stay in Australia for 2 more years, or up to 4 more years if COVID-19 concessions apply.

What can you do on the Business Innovation Extension stream?

On the Business Innovation Extension stream, you can:

  • operate a new or existing business in Australia
  • travel to, enter and remain in Australia for 6 years after the date of the grant of the Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream that you held at the time of application; or up to 8 years if COVID-19 concessions apply
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met

How long you can stay on this visa?

The Business Innovation Extension stream is a provisional visa. You can stay in Australia for up to 6 years after the date of the grant of the Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream that you held at the time of application; or up to 8 years if COVID-19 concessions apply.

The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid. The visa starts on the date the Department of Home Affairs grant it.

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met. These requirements can be found below.

Can you include family on this visa?

Yes – You can include family members on your visa application when you apply. You can also add your dependent child to your application at any time before the Department of Home Affairs decide on your application.

Any family members included on the visa application must meet the Department of Home Affairs health and character requirements.

Where can you apply for the visa from?

When applying for the Business Innovation Extension steam, you can be in or outside Australia. You cannot be in immigration clearance when the Department of Home Affairs decide on your visa.

Visa obligations

You and any family members who were included on your visa application must adhere and comply with all visa conditions and Australian laws.

You must also meet certain business obligations and obey Australian workplace laws.

Business obligations

While the holder of this visa, you must:

  • have a substantial ownership stake in a business in Australia
  • genuinely have a realistic commitment to take part in its day-to-day management, at a senior level

In the business, you must do at least one of these things:

  • add to commercial activity and competitiveness within the Australian economy
  • develop business links with international markets
  • employ people in Australia
  • export Australian goods
  • introduce new or improved technology, or
  • produce goods or services that Australia would otherwise import

Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

You must meet workplace laws when operating your business in Australia.

Where can you travel to?

You can travel outside Australia and return as many times as you want while the visa is valid. The time you spend outside Australia does not extend the visa or restart the time.

Visa label

Australian visa labels are now digital. The Department of Home Affairs doesn’t put a visa label in your passport anymore. The visa record will be digitally linked to your passport.

What are the eligibility requirements for the Business Innovation extension stream?

Hold a Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream

You must hold a Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream and have held it for at least three years, unless COVID-19 concessions apply.

Demonstrate a need for you to be resident in Australia to operate the main business

You must be able to demonstrate your business activities are of a nature that will require a substantial presence in Australia to operate your business and manage its day-to-day affairs.

Ownership interest in your nominated main business 

Your main business must have been operating actively in Australia for at least 2 years immediately before applying for this visa, unless COVID-19 concessions below apply.

Maintained your commitment

You must have maintained your commitment to stay directly involved in the day-to-day management and decision-making of the business.

Be nominated

You must have a current nomination from a State or Territory agency before being invited to apply for this visa.

History of involvement in unacceptable activities

You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia. If you’re unsure about any activities you have partaken in the past, contact our team today to discuss.

English language requirement

All visa applicants aged 18 or over at time of application who did not pay a second instalment of the visa application charge for a previous subclass 188 visa application, must either have functional English or you will be asked to pay the second instalment of the visa application charge to the Department of Home Affairs.

Health requirement 

Most applicants who met the Department of Home Affairs health requirements for their subclass 188 visa application do not need to meet the health requirements again for their subclass 188 extension visa. The exceptions are:

  • applicants who met the health requirements ‘with conditions’ at subclass 188 visa stage
  • applicants who do not hold a subclass 188 visa

These applicants may choose to undertake new health examinations before the Department of Home Affairs request them.

You and any family members included on the visa application must meet the Department of Home Affairs health requirement.

Character requirement

You and family members aged 16 years or over who apply for the visa with you must meet the Department of Home Affairs character requirement. 

Family members who are not coming to Australia must meet the character requirement.

Debt to the Australian government

If you or any family members owe the Australian Government money, you or they must have paid it back or have an approved arrangement in place to pay it back.

Have you had a visa cancelled or a previous application refused in Australia?

If you have had a visa cancelled or previous application refused in Australia, you might not be eligible for this visa.

Discuss your options and previous history with our team to ensure your future is secure in Australia.

What happens when the Business Innovation Extension stream is granted?

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer. 

Once you have this visa, you can apply for permanent residence if certain requirements are met.

Apply for permanent residence

For permanent residence, apply for the Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream.

Our team have helped clients wanting permanent residence. It’s important to ensure all visa conditions are met and we can provide you with the information needed.

Do you want to bring in family?

After you are granted the visa, if your family members want to apply for the same visa, they must submit a separate application, which is done online. Any additional family members that want to apply are called subsequent entrants.

Our team of registered migration agents and immigration lawyers can assist your family members who want to apply for this visa.

Do you want to apply for the Business Innovation Extension stream?

If you’ve read through the above requirements and information, contact our team of registered migration agents and immigration lawyers to begin your visa application.      

Significant Investor Extension stream

This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders extend their stay in Australia for up to 4 more years.

What can you do on the Significant Investor Extension stream?

On the Significant Investor Extension stream, you can:

How long you can stay in Australia for on this visa?

The Significant Investor Extension stream is a provisional visa.

If you held a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream at the time of application, you could stay for 6 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream. 

If you held a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream at the time of application, you can stay for 8 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream.

The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid. The visa is valid from the date that the Department of Home Affairs grant it.

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met. Our team can provide you with detailed migration options that may suit you.

If you need more time to meet the requirements of a Business Innovation and Investment (Permanent) (subclass 888) Significant Investor stream visa, you can apply for a second Business Innovation and Investment (Provisional) visa (subclass188) in the Significant Investor Extension stream.  A person can be granted a maximum of 2 Business Innovation and Investment (Provisional) visa (subclass188) in the Significant Investor Extension stream visas.   

Can you include family on this visa?

Yes – you can include family members who applied on the visa application. You can also add dependent children to your application at any time before the Department of Home Affairs decides on your application.

Any family members that are included on the visa application must meet the Department of Home Affairs health and character requirements.

Where can you apply from?

When applying for this visa, you can be in or outside of Australia. You can not be in immigration clearance when the Department of Home Affairs decides on your visa application.

Your obligations

You and your family members who are part of your application must comply with all visa conditions and Australian laws.

Visa obligations

To be eligible for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream, you must live in Australia for at least 40 days per year for the duration of your provisional visa. Or your spouse must live in Australia for at least 180 days per year for the duration of your provisional visa. These days do not need to be consecutive.

Maintain your investment

You must continue to hold a complying significant investment continuously for the life of your provisional visa.

You can switch between complying significant investments if:

  • you reinvest the funds you withdraw from an investment into other complying significant investments within 30 days
  • the sum reinvested should be the same as the sum withdrawn irrespective of any gains and losses due to market exposures

If you reinvest funds into a complying significant investment within 30 days, the Department of Home Affairs regard that as holding it continuously.

If you withdraw funds from venture capital or emerging company investments, you must reinvest the funds into venture capital or emerging companies.

If you withdraw funds from the ‘balancing investment’ category of investments, you can reinvest them into another balancing investment, venture capital or emerging companies.

If you withdraw funds from venture capital because the venture capital investment has been realised, you must reinvest those funds. You can reinvest it in any eligible complying significant investment.

Income that you earn from your complying significant investment in Australia may be subject to tax under Australian taxation law.

The rules that were in force at the time that you applied for your first Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream will continue to apply for the duration of your provisional visa, including any Extension stream visas you apply for that relate to that provisional visa. 

If you’re unsure of what investments are a complying significant investment, our team of immigration lawyers and registered migration agents can assist you. It’s important that you comply with the requirements of this visa.

Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

If you operate a business in Australia, you must comply with workplace laws. 

Where can you travel to?

You can travel outside Australia and return as many times as you want while the visa is valid. The time you spend outside Australia does not extend the visa.

Visa label

Visa labels are no longer physical and don’t go into your passport.

They are now digital and will be linked to your passport.

What are the eligibility requirements for the Significant Investor Extension stream?

Have not held more than one Significant Investor Extension stream visa

You must not have held more than one Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream visa.

Complying significant investment

You must continue to hold your complying significant investment in accordance with the complying investment framework in place at the time you applied for this visa.

History of involvement in unacceptable activities

You and your partner must have had no history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

English requirement

If a family member who was on your visa application did not pay a second instalment of the application charge for a previous subclass 188 visa application, they must have proved that they have functional English – otherwise they will need to pay the second instalment to the Department of Home Affairs.

Health requirement

Most applicants who met the Department of Home Affairs health requirements for their subclass 188 visa application do not need to meet their health requirements again for their subclass 188 extension visa.

The exceptions are:

  • applicants who met the health requirements ‘with conditions’ at subclass 188 visa stage and is unable to comply with the undertaking
  • applicants who do not hold a subclass 188 visa.

You don’t need to take a health examination until told to do so by the Department of Home Affairs.

Character requirement

You and any family members aged 16 years or over who were included on your visa application, will have to pass the Department of Home Affairs character requirement.

Family members who have not applied for the visa must also meet the character requirement.

Debts to the Australian government

If you or any family members owe the Australian Government money, you or they must show that it has been paid back or there is an approved arrangement in place to pay it back.

Have you had a visa cancelled or a previous application refused in Australia?

If you have had a visa cancelled or previous application refused in Australia, you may not be eligible for this visa.

It’s important to disclose this information with our team of registered migration agents and immigration lawyers to best assess your application.

What happens once you have been granted the Significant Investor Extension stream?

Maintain your investment

You must hold a complying significant investment continuously for the life of your provisional visa.

Income that you earn from your investment in Australia is subject to Australian taxation law.

Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

If you operate a business in Australia, you must comply with workplace laws.

Extending your time in Australia

If you need more time to meet the requirements of a Business Innovation and Investment (Permanent) (subclass 888) Significant Investor stream visa, you can apply for a second Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream. 

You can be granted a maximum of 2 Business Innovation and Investment (Provisional) visas (subclass 188) in the Significant Investor Extension stream. 

Do you want to apply for the Significant Investor Extension stream?

If you’ve read through the requirements above and would like to begin your visa application, contact our team of registered migration agents and immigration lawyers today.

Premium Investor stream

This provisional visa is for people who are nominated by Austrade and who invest at least AUD $15 million in Australian investments and/or philanthropic contributions.

What can you do on the Premium Investor stream?

On the Premium Investor stream, you can:

How long you can stay in Australia for?

The Premium Investor stream is a provisional visa. You can stay in Australia for 4 years and 3 months.

The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid.

The visa starts on the date the Department of Home Affairs grants it.

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer. Talk with our team to discuss and explore any other visa options you may have.  

Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream if certain requirements are met.

Are family included on this visa?

Yes – you can include family members on your visa application when you apply. You can also add dependent children to your application at any time before the Department of Home Affairs decide your application.

Any family members who are included on the visa application must meet the Department of Home Affairs health and character requirements.

Where can you apply for this visa from?

If you’re applying for the Premium Investor steam visa, you can be in or outside Australia when you apply. You can’t be in immigration clearance once the Department of Home Affairs decided on your visa application.

Your obligations

You and all your family members included on your visa application must comply with all the visa conditions and Australian laws.

If you apply for a Business Innovation and Investment (Permanent visa (subclass 888) Premium Investor stream, you must genuinely have a realistic commitment to maintain business and investment activity.  

You must also hold your investment of AUD $15 million for a minimum of 12 months and follow Australian workplace laws.

Where can you travel to?

You can travel outside Australia and return as many times as you want while the visa is valid.

The time you spend outside Australia does not extend the visa.

Visa label

Australian visas are now digital. The Department of Home Affairs won’t put a visa label into your passport.

Your digital visa record will be linked to your passport instead.

What are the eligibility requirements for the Premium Investor stream?

Be nominated

You must be nominated by Austrade before being invited to apply for this visa.

Austrade must not withdraw their nomination after you apply, or the Department of Home Affairs will be unable to grant you a visa.

Receive an invitation to apply

You must submit an Expression of Interest (EOI). If Austrade accepts your EOI and nominates you, the Department of Home Affairs will invite you to apply for this visa. 

Austrade will not accept unsolicited expressions of interest.

Complying premium investment of at least AUD $15 million

After you lodge your application, you must make a complying premium investment of at least AUD $15 million in any of the following options:

  • Australian securities exchange listed assets
  • Australian government or semi-government bonds or notes
  • corporate bonds or notes issued by an Australian exchange listed entity (or wholly owned subsidiary of the Australian listed entity), investment grade rated Australian corporate bonds or notes rated by an AFS licenced debt rating agency
  • Australian proprietary limited companies that operate qualifying businesses (providing goods or services to the public with a profit-making intention, and not passive or speculative in nature)
  • real property in Australia excluding residential property
  • deferred annuities issued by Australian registered life companies
  • state or territory government approved philanthropic contribution

To be an eligible fund, a further requirement is that cash is to be no more than 20% of a fund’s net assets and derivatives are to be used for risk management purposes only.

Premium investors may elect to make a portion or the entirety of their investment by way of a philanthropic donation (endorsed by a state or territory government.

Income that you earn from your complying premium investment in Australia is subject to tax under Australian taxation law.

You must also have a genuine and realistic commitment to continue your investment activity in Australia after your visa ends.

Do not make your complying premium investment before you submit a visa application. Once you have lodged an application, if the Department of Home Affairs are satisfied you meet other criteria for the grant of the visa, you will be invited to make a complying premium investment.

Net assets of at least AUD $15 million

You must have net assets of at least AUD $15 million. These assets could belong to you, your partner, or you and your partner combined. They must be legally acquired, unencumbered, and available to make the complying premium investment in Australia.

Not have a history of involvement in unacceptable activities

You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia. It’s important that if you do have a history or are unsure that you speak with our team of registered migration agents as soon as possible.

Agree not to bring action against the Commonwealth

You must agree not to bring any action against the Commonwealth for any loss relating to your complying premium investment. This also applies to any member of the family unit 18 years of age or older who is also an applicant for this visa.

Functional English requirement

All applicants aged 18 or over at time of application must have at least functional English. If you are unable to prove they have functional English, you will have to pay the second instalment to the Department of Home Affairs.

Health requirement

You and any family members included on your visa application must meet the Department of Home Affairs health requirement. If you apply for this visa from outside Australia, family members who are not coming to Australia may also have to meet the health requirement.

Character requirement

You and any family members aged 16 years and over who have applied on the visa application with you must meet the Department of Home Affairs character requirement. The Department of Home Affairs may also ask that other family members meet the requirement.

Debt to the Australian Government

If you or any family members owe the Australian Government money, you or they must show that it has been paid back or there is an approved arrangement in place to pay it back.

Have you had a visa cancelled or a previous application refused in Australia?

If you have had a visa cancelled or previous visa application refused in Australia, you might not be eligible for this visa.

It’s important to discuss your previous migration history with our team of registered migration agents so that we can plan and assess your best option going forward.

What happens once the Premium Investor stream is granted?

Staying longer

This is a provisional visa. You must apply for a new visa if you want to stay longer.

Apply for permanent residence

Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream if certain requirements are met.

Our team of registered migration agents and immigration lawyers have provided permanent residency assistance. Discuss your migration plans with us today and we can see how you can apply for permanent residence.

Do you want to apply for the Premium Investor stream?

If you’ve read all the information and requirements and would like to apply for the Premium Investor stream, please contact our team of registered migration agents to begin your visa application.

Entrepreneur stream

For start-up and early-stage entrepreneurs who have been endorsed to develop their concepts and been nominated by a State or Territory government agency.

What can you do on the Entrepreneur stream?

On the Entrepreneur stream, you can:

How long you can stay in Australia for?

The Entrepreneur stream is a provisional visa. You can stay in Australia for up to 5 years. The visa is granted with multiple entries. You can leave and re-enter Australia as many times as you want while the visa is valid.

The visa is valid from the date it is granted by the Department of Home Affairs.

Do you want to stay longer in Australia?

This is a provisional visa. You must apply for a new visa if you want to stay longer. Our team can provide you with a variety of migration options depending on your situation.

Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream if certain requirements are met.

Can you include family on this visa?

Yes – you can include family members that applied for the visa. You can also add dependent children to your application at any time before the Department of Home Affairs decide on your application.

Any of the family members that applied on your visa application must meet the Department of Home Affairs health and character requirements.

Where can you apply from?

You can apply for this visa in or outside of Australia. When the Department of Home Affairs decides on your visa application, you can’t be in immigration clearance.

Your obligations

You and your family members who are part of your application must comply with all visa conditions and Australian laws.

You must meet certain obligations related to your entrepreneurial activities. You must also obey Australian workplace laws.

Entrepreneur obligations

If you were invited to apply on or after 1 July 2021, you must be undertaking or propose to undertake a complying entrepreneur activity in Australia and have a genuine intention to undertake, and continue to undertake, the complying entrepreneur activity. You must also have been nominated by a State or Territory government agency to develop your concepts.

Australian workplace laws

All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.

If you operate a business in Australia, you must comply with workplace laws at all times.

Where can you travel?

You can travel outside Australia and return as many times as you want while the visa is valid. The time you spend outside of Australia does not extend the visa, or restart the time originally granted.

Visa label

Australian visas granted by the Department of Home Affairs are now digital. You will not have a visa label added to your passport. The Department of Home Affairs will link your digital visa record to your passport instead.

What are the eligibility requirements for the entrepreneur stream?

Invitation to apply

You must submit an Expression of Interest (EOI). If an Australian State or Territory government agency accepts your EOI and nominates you, the Department of Home Affairs will invite you to apply for this visa.

Be nominated by State or Territory government agency

You must be nominated by a State or Territory government agency before being invited to apply for this visa. The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or the Department of Home Affairs will be unable to grant you a visa.

Be under the age of 55

You will not receive an invitation if you are aged 55 or older, at the time of the invitation to apply for the visa, unless the State or Territory government agency has determined your proposed entrepreneur activity will be of exceptional economic benefit.

Have a complying entrepreneur activity 

You must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia. You must have a genuine intention to continue this activity.

A complying entrepreneur activity must relate to an innovative idea that will lead to:

  • the commercialisation of a product or service in Australia, or
  • the development of an enterprise or business in Australia

This activity must not relate to any of the following categories:

  • residential real estate
  • labour hire
  • purchase of an existing enterprise or a franchise in Australia

If you were invited to apply on or after 1 July 2021, be endorsed by a recognised body

If you were invited to apply for this visa on or after 1 July 2021, you must be endorsed by your nominating State or Territory government agency to develop your entrepreneurial concepts.

To check your eligibility, contact the following State or Territory government agency:

English language requirement

In order to be eligible for this visa, you must have competent English through the English language requirement.

Health requirement

You and any family members that were included on your visa application must meet the Department of Home Affairs health requirement.

Family members who are not coming to Australia may also have to meet the health requirement.

Character requirement

You and any family members aged 16 years and above who were included on your visa application, must meet the Department of Home Affairs character requirement.

The Department of Home Affairs may also ask that any other family members meet the character requirement.

Debts to the Australian government

If you or any family members owe the Australian Government money, you or they must show that it has been paid back or there is an approved arrangement in place to pay it back.

Have you had a visa cancelled or a previous application refused in Australia?

If you have had a visa cancelled or a previous visa application refused in Australia, you might not be eligible for this visa.

It’s important you disclose all information to our team of registered migration agents when applying for this visa, as not disclosing this information can put your application at significant risk.

What happens once the Entrepreneur stream is granted?

Meet your entrepreneurial obligations

You must successfully undertake activities in Australia that meet the requirements of a complying entrepreneurial activity for the duration of your subclass 188 visa. The factors that will be used to determine the success of the activities include:

  • the number of Australian citizens and permanent residents employed
  • the level and nature of ongoing funding and investment in the activities
  • the annual turnover of the business activities
  • any endorsement of your successful entrepreneurial activities by a start-up incubator, start-up accelerator or other body that assists start-up businesses, that is recognised by the nominating State or Territory government agency.  

How long you can stay in Australia?

You can stay up to 5 years in Australia.

Do you want to stay longer in Australia?

You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence if certain requirements are met. Our team can assist you with the permanent residence component. Discuss your migration options with us today.

Apply for permanent residence

Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream if certain conditions are met. 

Bringing family

After you are granted this visa, if members of your family want to apply for the same visa, they must submit a separate online application. Any additional family members are called ‘subsequent entrants’.

Do you want to apply for the Entrepreneur stream?

If you’ve read the above information regarding the Entrepreneur stream, contact our team of registered migration agents and immigrations lawyers to begin your visa application.