The sub-class 188 visa is a temporary business visa for people who have a successful business or investment career, and have a genuine and realistic commitment to be involved in investing or business in Australia. This visa is also the first step towards being granted a permanent Business Skills visa. Under this subclass, you may apply for the Business Innovation stream or the Investor stream.
An Expression of Interest is required
You can only apply for skills points based visa, if you have been invited by the Department of Immigration to apply for the specific subclass of skills visas.
An Expression of Interest is required. Importantly, please note that the submission of an EOI is not an application for a visa – it is an indication that you would like to be considered for a skilled visa.
This visa is points tested with a pass mark of 65. Points are awarded for the following criteria:
- Age below 50 years
- English language ability
- Academic qualifications
- Experience in business or investment
- Net personal and business assets. The requirements for Business Innovation stream applicants and Investor stream applicants are different, as set out below.
Requirements for Business Innovation stream applicants
If you apply for the Business Innovation stream, you and/or your partner combined must have:
- total assets of at least AU$800,000, and
- total annual turnover of at least AU$500,000 in at least 2 of the 4 fiscal years immediately before your application, and owned at least:
- 51 % of a business with a turnover of less than AU$400,000 per annum, or
- 30 % of a business with a turnover of more than AU$400,000 per annum, or
- 10 % of a publicly-listed company
- an overall successful business career with no involvement in unacceptable business activities
- managed a business, in which you spent less than half your time on professional, technical or trade services
- a strong desire to own and maintain a management role in a business in Australia.
The visa includes four streams:
- 188A-Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
- 188B-Investor stream: for people who want to make a designated investment of at least AUD1.5 million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
- 188SIV-Significant Investor stream: for people who are willing to invest at least AUD5 million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
- 188PIV-Premium Investor stream: for people who are willing to invest at least AUD15 million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
Contact Us for further information. We will advise you regarding your options, and which visa sub-class will be most suitable for your needs.
We will provide you with a realistic assessment of your chances of success with this visa. We will advise you accordingly. Contact us to assess your options.