About Business Innovation and Investment Visa
The Business Innovation and Investment Visa (subclass 188) is a visa offered by the Australian government that allows foreign entrepreneurs and investors to migrate to Australia temporarily to start or invest in a business venture in the country.
This Australia investor visa is designed for individuals who can demonstrate a successful business career, with a proven track record of managing and operating businesses, and who have the financial means to invest in Australia.
This Australia investor visa is designed for individuals who can demonstrate a successful business career, with a proven track record of managing and operating businesses, and who have the financial means to invest in Australia.
Eligibility
The eligibility requirements for the Business Investment Visa (subclass 188) vary depending on the stream that an applicant is applying for. Make sure you hire the best business visa consultants for ensuring this. However, some standard requirements include the following:
- Age: Applicants must be under 55 years of age, although certain exemptions may apply in some cases.
- Business Experience: Applicants must have a successful business career with a proven track record of 3 years of managing and operating businesses.
- Investment Funds: Applicants must have sufficient funds to invest in Australia or start a new business venture. The minimum investment amount varies depending on the stream that an applicant is applying for.
- English Language Proficiency: Applicants must demonstrate proficiency in the English language by providing evidence of their language skills through a test or by holding an eligible passport.
- Health and Character: Applicants must meet certain health and character requirements to live in Australia.
- Business Plan: Applicants must provide a detailed business plan outlining their proposed business or investment activities in Australia.
- Nomination: Applicants must be nominated by an Australian state or territory government or by Austrade.
Streams of Business Innovation and Investment Visa
- Business Innovation Stream: This stream is for individuals who want to establish, develop, or manage a new or existing business in Australia. Business innovation visa lets you stay in Australia for up to 5 years.
- Investor Stream: This stream is for individuals 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. The duration of stay under this scheme is 5 years.
- Significant Investor Stream: This stream is for individuals who want to invest at least AUD 5 million in Australian investments and maintain business and investment activity in Australia. The Significant investor extension stream extends your stay for up to 4 more years.
- Entrepreneur Stream: This stream is for individuals with a funding agreement from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity in Australia. To be eligible, applicants must have a successful entrepreneurial career and a commitment to undertaking a complying entrepreneur activity in Australia.
- Business Innovation Extension Stream: This stream is for individuals who currently hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream and want to extend their stay in Australia. It grants an extension of 6, 7 or 8 years after the date of the Business Innovation and Investment Visa grant.
- Premium Investor Stream: This stream is for individuals who want to make a premium investment of at least AUD 15 million in Australian investments and maintain business and investment activity in Australia. This stream lets the visa holder stay for 4 years and 6 months.
In conclusion, the Australia subclass 188 visa is an excellent opportunity for foreign entrepreneurs and investors to temporarily Migrate to Australia to start or invest in a business venture in the country. Six different streams are available under this visa, each with its specific requirements, allowing applicants to choose the stream that best suits their business or investment goals.