Business Innovation and Investment (Provisional) visa (subclass 188)
A person who wishes to establish a new business or expand their existing business in Australia with this Temporary resident visa can apply for Business Innovation and Investment (Provisional) visa (subclass 188). Applicants must also be nominated to apply by an Australian state or territory government agency. Under this visa applicants can fulfill the basic eligibility to apply for a Permanent Residence Visa.
Benefits of Business Innovation and Investment (Provisional) visa (subclass 188)
The applicant and their family members will get all the benefits of Australian permanent Residence which includes :
- The applicant can work and live in Australia indefinitely
- Sponsor relatives for permanent residence
- Travel in and out of Australia as you please
- Opportunity to apply for Australian Permanent Residence under Business Innovation and Investment (Permanent) visa (subclass 888)
Eligibility Criteria for subclass 188 Visa
- Applicant should be nominated by a state or territory government
- Age should be less than 55
- Meet health requirements
- Meet Character requirements
- Submit an Expression of Intrest to be Invited to apply
- willing to sign Australia Value Statement
- Should not have outstanding debts with Australian government
Business Innovation stream-Subclass 188
If the applicant wants to operate an existing business or new business in Australia can apply under this Stream.
- The applicant should have a Networth of AUD 800,000
- Applicant should run business with an annual turnover of at least AUD500,000 for 2 years in the past 4 financial years before they apply.
- Should have ownership of at least 51 % for business have turnover less than AUD 400,000
- At least 30% ownership if the turnover is AUD 400,000 or more
- At least 10% ownership if the company is listed publicly
- Should score 65 points in the point-based system
- Nominated by a state or territory government
- Under this stream, the applicant can stay in Australia for 4 years and 3 months
Investor Stream-Subclass 188
The applicant who wishes to maintain business or investment activity by investing AUD 1.5 million can apply under this stream.
- Applicant should be less than 55 years of age unless exempt
- The applicant should have a Networth of AUD 2.25 million
- Should stay in the nominated province for at least 2 years
- Make an investment of AUD 1.5 million in Australian state or territory
- Should score 65 points in the point-based system
- Nominated by a state or territory government
- Under this stream, the applicant can stay in Australia for 4 years and 3 months
Significant Investor stream-subclass 188
The applicant who wishes to invest at least AUD 5 million in Austalia investments that meet certain requirements and take care of investment activities can apply under this stream
- Applicant should be less than 55 years of age
- The applicant should have a Networth of AUD 5 million
- complying investment or a complying significant investment needs to be of at least AUD 5 million over four years
- Nominated by a state or territory government or Austrade
- Under this stream, the applicant can stay in Australia for 4 years and 3 months
Business Innovation Extension stream-subclass 188
The applicant who is holding Business Innovation and Investment (Provisional) visa (subclass 188) can apply under this stream to extend their stay for 2 more years
- The applicant can hold only one Business Innovation and Investment (Provisional) visa (subclass 188)
- Must hold subclass 188 visa under business innovation stream for at least 3 years
- should be nominated by a state or territory
- Can stay for 6 years in Australia from the date subclass 188 granted initially
Significant Investor Extension stream-subclass 188
The applicant who is holding Business Innovation and Investment (Provisional) visa (subclass 188) can apply under this stream to extend their stay for 4 more years
- The applicant can hold only one Business Innovation and Investment (Provisional) visa (subclass 188)
- Must hold subclass 188 visa under Significant innovation stream for at least 3 years or significant visa extension stream
- should be nominated by a state or territory
Premium Investor stream-subclass 188
The applicant who is nominated by AUSTRADE and invest at least AUD 15 million in Austalia investments and philanthropic contributions that meet certain requirements can apply under this stream
- The applicant should have a Networth of AUD 15 million
- Must have a genuine intension to continue business activity even after the expiry of subclass 188 visa
- applicant should be nominated by Austrade
- Under this stream, the applicant can stay in Australia for 4 years and 3 months
Entrepreneur stream-subclass 188
This Stream lets the applicant carry out entrepreneurial activities in Australia and now it is closed due to the low volume of applications.
Nominated by State or Territory Government
Under the Skilled Nomination Visa, the candidate can express their interest on visting Australia and their plans to settle, but it is upto the local or state government to decide whether they require the concerned skill set at that point of time. If the candidate’s skill set are found to be in demand then they are open to apply for the visa program, and they can also select a particular state to live if they have enough knowledge on selection or they can be open to get settled in any state.
- The candidate needs to stay in the concerned state minimum of two years.
- The candidate has to provide their current and the address of territory in which they are about to stay.
- Must have completed all the surveys and post-arrival process before landing in Australia.
Skilled Independent Visa
(Subclass 189)
The skilled independent visa program (subclass 189) was brought into act to meet the surpulusahortage of skilled workers in…
Skilled Recognised Graduate Visa Program (Subclass 476)
The Skilled Recognised Graduate Visa Program is tailor-made for exclusive and eligible engineering graduates to apply for suitable jobs in…
Tourist Stream- Outside
Australia
People who reside outside Australia can apply for this visa program. By applying to this visa, the concerned applicant can go on a…
Sponsored Family Stream
Under thesponsored Family Stream Program, the concerned applicant can travel and stay in Australia based on the sponsorship…
Business Visitor Stream
Applicants who are intended to visit Australia for business purpose can make complete use of this stream. The applicant who got…
Talk to our Experts
Croyez Immigration is providing efficacious immigration services to fulfill the dreams of aspiring clients who wish to immigrate to a new country, we sincerely work to give you the best life you deserve. We are experts in processing almost all the categories of Canadian Immigration programs like Express Entry, General Skilled Migration, and other temporary visas. Canada, being the land of opportunities always heads up to welcome the potential immigrants and so we help you explore all the possibilities to change your life, Contact the expert consultants of Croyez Immigration for prompt assistance.
