CES Global

188 – Australia Innovation and Investment visa (Provisional)

Business Visa

188 – Australia Innovation and Investment visa (Provisional)

Do you have a business idea that you believe could be successful in Australia? Are you willing to make a significant financial investment in the country? If so, the Innovation and Investment visa may be the ideal choice for you.

This visa, also known as subclass 188, is a provisional business visa that allows the primary visa holder and any accompanying individuals to stay in Australia for four years. After this initial period, it may be possible to apply for a permanent visa (subclass 888).

There are three streams available for applicants:

  1. Business Innovation stream: designed for individuals who plan to establish, manage, or expand a new or existing business in Australia.
  2. Investor stream: intended for those with a minimum of $1.5 million AUD in capital funding to invest in an Australian business.
  3. Significant Investor stream: available to applicants with a minimum of $5 million AUD to invest in a complying investment in Australia.

This visa offers a unique opportunity for entrepreneurs and investors to develop and grow their business in a thriving economy like Australia.

Businessman Relaxing in Hotel Room

Who can apply?

To be eligible for a provisional Innovation and Investment visa, you must be invited to apply by a state or territory government. The application process begins with submitting an Expression of Interest (EOI) to the Department of Home Affairs. An Australian immigration official will assess your EOI and determine if you meet the visa’s requirements.

Introduction

Temporary residence visa holders may face certain limitations, such as not being able to access medical assistance through Medicare. However, with a provisional Innovation and Investment visa, you are granted several allowances. These include:

  • The ability to establish or develop a new or existing business, invest in an Australian business, or make a complying investment in the country.
  • Multiple entries into Australia during the visa's validity period.
  • The option for family members to join and stay with you in Australia.
  • The opportunity to apply for the permanent Innovation and Investment visa (subclass 888) when eligible.

These provisions give visa holders greater flexibility and the opportunity to pursue their business interests in Australia.

VISA APPLICANTS

People who want to apply must:

  • obtain nomination from any Australian territory or state
  • have been invited to apply for a visa
  • pass the health and character criteria (including all family members)
  • meet the requirements applicable to the stream you are applying under

VISA HOLDERS

As a holder of a provisional Innovation and Investment visa, you have the following entitlements:

  1. Work on establishing or developing a new or existing business, invest in a business in an Australian state or territory, or make a designated investment in a complying investment in Australia.
  2. Have multiple entries to Australia during the validity period of the visa.
  3. Have your family members stay with you in Australia.
  4. Apply for the permanent Business Innovation and Investment visa (subclass 888) when you meet the eligibility requirements.

POINTS TESTS

In order to be eligible for the provisional Innovation and Investment (subclass 188) visa, you are required to score a certain number of points in the points test.