Provisional Visa For Business Investment And Innovation Visa (Subclass 188)
Basic Candidate Eligibility
- The eligible candidate is required to present expression of interest (EOI) within SkillSelect
- The eligible candidate must be elected by an Austrade, Territory Government Agency or a State
- The eligible candidate must be invited for an interview while applying for the visa
Business Innovation Proceedings Stream
This sort of provisional visa is valid for people who possess business skills or are business personnel. It allows you to operate an existing or newly established business in a seamless manner in Australia. You may get detailed information on this via expert visa consultants in Melbourne.
This visa offers you the following:
- Administering with the new or existing business setup within Australia
- You may also have the applicable members of your family with you
- Eligibility for applying for a permanent visa for Business Investment and Innovation and Business Innovation Stream (Subclass 888)
Criteria For Eligibility
- You must score a minimum of 65 on the points test domain
- You are required to provide evidence of business success that includes aspects like your business’s annual turnover or overall ownership stake
- At least you or your business partner must possess a total net worth of at least AUD800,000 of your business or personal assets either separately or both of yours combined
Investor Proceedings Stream
This sort of provisional visa demands you to make an investment of at least AUD1.5 million within the Australian Territory and also must maintain the investment or business activity in Australia. The top migration consultant in Melbourne can surely guide you further on this.
This sort of visa allows you:
- Seamless execution of investment and business operations within Australia
- To be able to bring the members of your family along with you that are considered eligible
- You may apply for the Business Innovation and Investment (Permanent) visa (Subclass 888) Investor Stream on a permanent basis if specified requirements are being met successfully
Criteria For Eligibility
- You must make an investment of AUD1.5 million within the Australian State
- You must possess a net worth of investment, personal assets, and business of at minimum AUD2.25 million
- You must achieve the minimum score of 65 on the points test
Significant Investor Proceedings Stream
This sort of provisional visa is designed for the people who can make an investment of at least AUD5 million within Australian investment criteria and also meets other specified requirements while maintaining the investment activities in Australia. Our expert Melbourne visa agent will surely guide you further about this.
The visa offerings include:
- You may execute the investment activity within Australia
- You can also apply for the Business Innovation and Investment (Permanent) visa (Subclass 888) Significant Investor Stream on a permanent basis if particular specifications are being met
Criteria For Eligibility
- You must be invited to apply for this kind of visa
- You must be elected by the Austrade or a Territory Government Agency to make an investment of a minimum AUD5 million that must also meet specified requirements. You must also have an honest intention of continuing that investment for the time span of at least 4 years
- You must also possess a genuine intention to continue living within the required State or Territory whose government elects you
Business Innovation Extension Proceedings Stream
This kind of provisional visa allows the holders of the Business Innovation and Investment (Provisional) visa (subclass 188) that fall in the category of Business Innovation stream to easily extend their stay within the premises of Australia for additional years or also for the time span of 4 years as per the application of the COVID-19 concession.
This visa offers you:
- Execution of business activities either existing or new business within Australia
- You may take along with you the applicable family members
- You may also apply for the Business Innovation and Investment (Permanent) visa (Subclass 888) within the Business Innovation Stream on a permanent basis if particular requirements are being met successfully
Criteria For Eligibility
- You must possess or in some certain scenarios must have possessed a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream
- You must possess or in some certain scenarios must have possessed Business Innovation and Investment (Provisional) visa (subclass 188) within the Business Innovation Extension stream
- You must have possessed Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream for the time frame of at least 3 years
- You must not have possessed Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream visa
- You must be elected by the State Government Agency
Significant Investor Extension Proceedings Stream
This type of provisional visa allows the holder of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders to conveniently enhance their stay within Australia for the time span of up to more than four years.
This sort of visa allows you
- Execution of any investment activity within Australia
- You can apply for Business Innovation and Investment (Permanent) visa (Subclass 888) Significant Investor Stream on a permanent basis if the already mentioned requirements are being met successfully
Criteria For Eligibility
- You must possess a Business Innovation and Investment (Provisional) visa (subclass 188) with the Significant Investor stream category and must have held the visa for the time frame of minimum of three years
- You must possess a Business Innovation and Investment (Provisional) visa (subclass 188) within the domain of the Significant Investor Extension stream and must not have possessed more than any of these visas
- You must have been chosen by the required Austrade, territory, or Government agency
Premium Investor Proceedings Stream
This type of provisional visa is best suited for the people who are elected by the Austrade and who are eligible for the investment of a minimum AUD15 million within Australian Investment or execution of certain philanthropic grants.
The offerings of the visa include
Execution of successful investment and business activities within Australia
You may continue to reside in Australia for the time frame of up to 4 years and at least 3 months
You may also apply for Business Innovation and Investment (Permanent) visa (Subclass 888) within the Premium Investor Stream category on a permanent basis if specified requirements are being successfully met
Criteria For Eligibility
- You must be elected by the Austrade
- You must be given an invitation to apply for the required visa
- You must make an investment of a minimum of AUD15 million in terms of philanthropic contributions or Australian investments that must cater to certain requirements
- You must hold an honest intention to carry out the investment for the complete time frame of the visa except for the part of the investment that is based on philanthropic contribution
Entrepreneur Proceedings Stream
This kind of provisional visa allows you to execute various entrepreneurial operations within Australia. Elite consultancy can surely guide you in detail about this.
The visa offers you:
- Execution of various entrepreneurial operations in Australia
- Taking the applicable members of your family with you
- You may apply for the Business Innovation and Investment (Permanent) visa (Subclass 888) within the domain of Entrepreneur Stream permanently if you meet the specified and predefined requirements
Criteria For Eligibility
- You should be undertaking or willing to undertake an accommodating entrepreneurial activity within Australia
- You must undergo an agreement of funding for at least AUD200,000 to get executed with operations of entrepreneurship within Australia
- You must submit a detailed business plan for the entrepreneurial activity to be executed
- You must be proficient in the English language
Visa type | Description | Duration | Cost | Processing time |
Business Innovation Stream | It is for people with business skills. It lets you operate a new or existing business in Australia. | Up to 4 years and 3 months. | From AUD5,375 | There are no standard processing times available for this stream. |
Investor Stream | This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia. | 4 years and 3 months. | From AUD5,375 | There are no standard processing times available for this stream. |
Significant Investor Stream | This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia. | Up to 4 years and 3 months | From AUD7,880 | There are no standard processing times available for this stream. |
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. | 6 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream that you held at the time of application; or 8 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream if the visa that you held at the time of application was a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream and COVID-19 concessions apply | From AUD645 | There are no standard processing times available for this stream. |
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. | Extend stay for up to 4 years | From AUD645 | There are no standard processing times available for this stream. |
Premium Investor Stream | This provisional visa is for people who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions. | 4 years and 3 months | From AUD9,455 | There are no standard processing times available for this stream. |
Entrepreneur stream | This provisional visa lets you carry out entrepreneurial activities in Australia. | 4 years and 3 months | From AUD4,045 | Unavailable due to low volume of applications |