Subclass 188 (as of 16 September 2021)
Business Innovation and Investment (Provisional) visa
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
188A – Business Innovation stream
This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.
Stay: Up to 5 years.
- You must operate a new or existing business in Australia.
- You must be nominated by an Australian State or Territory government agency.
- You must score at least 65 on the points test
- provide proof of your business success (annual turnover, ownership interest)
- You, your partner, or you and your partner together, have total net business and personal assets of at least:
- AUD1,250,000 if you were invited to apply for this visa on or after 1 July 2021
188B – Investor stream
This provisional visa requires you to invest at least AUD2.5 million in Australian investments that meet certain requirements and maintain business or investment activity in Australia.
Stay: Up to 5 years.
- You must be nominated by a State or Territory government agency to invest at least
AUD2.5 million that meets certain requirements if you were invited to apply on or after 1 July 2021
- score at least 65 on the points test
- have net business, investment and personal assets of at least AUD2.5 million
188C – 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.
Stay: Up to 5 years.
- be invited to apply for this visa
- be nominated by a State or Territory government agency or Austrade to invest at least AUD5 million that meets certain requirements and have a genuine intention to hold that investment for the life of your provisional visa
- have a genuine intention to live in the State or Territory whose government agency nominates you
188D – 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.
- carry out business and investment activity in Australia
- stay in Australia for up to 4 years and 3 months
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Premium Investor stream if certain requirements are met.
- You must be nominated by Austrade
- be invited to apply for this visa
- invest at least AUD15 million in Australian investments and/or philanthropic contributions that meet certain requirements
- have a genuine intention to hold the investment for the whole period of the visa (except any part of the investment that is a philanthropic contribution)
188E – Entrepreneur stream
For startup and early stage entrepreneurs who have been endorsed to develop their concepts and been nominated by a State or Territory government agency.
Stay: Up to 5 years
- You must have a funding agreement with a third party to carry out entrepreneurial activities.
- You must first be nominated by an Australian State or Territory government agency.
- You must be nominated by a State or Territory government agency
- undertake, or propose to undertake, a complying entrepreneur activity in Australia
- show us a business plan for your entrepreneurial activity
- have at least competent English
- be invited to apply for this visa
- be nominated by a State or Territory government agency or Austrade to invest at least AUD5 million that meets certain requirements and have a genuine intention to hold that investment for the life of your provisional visa
- have a genuine intention to live in the State or Territory whose government agency nominates you
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.
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 proposed entrepreneur activity will be of exceptional economic benefit.
Business Innovation and Investment (Provisional) visa (subclass 188)
Business Innovation Extension stream (188A extension)
This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream extend their stay in Australia.
Stay
Stay in Australia for up to 6, 7 or 8 years after the date of grant of the original Business Innovation and Investment (Provisional) visa (Subclass 188) in the Business Innovation stream .
Extend your stay for up to 2 more years. This means you can stay in Australia for a total of 6 years from the date of grant of your Subclass 188 visa in the Business Innovation stream.
You can only have held 1 Business Innovation and Investment (Provisional) visa (subclass 188).
You must hold a Subclass 188 visa in the Business Innovation stream.
You must have held your Subclass 188 visa in the Business Innovation stream for at least 3 years.
You must be nominated by an Australian State or Territory government agency.
Significant Investor Extension stream (188B extension)
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.
Stay
Extend stay for up to 4 years
Extend your stay for up to 4 more years. This means you can stay in Australia for a total of 8 years from the date of grant of your Subclass 188 visa in the Significant Investor stream.
You must hold a Subclass 188 visa in the Significant Investor stream for at least 3 years, or a Subclass 188 visa in the Significant Investor Extension stream.
You cannot have held more than 1 Subclass 188 visa in the Significant Investor Extension stream.
You must be nominated by an Australian State or Territory government agency or Austrade.
