Business Innovation and Investment (Provisional) visa (subclass 188)
This provisional visa is one of the three categories of 188 immigrant visas, implemented by the Australian Department of Home Affairs. This scheme is a 5-year temporary residence visa, suitable for investors who plan to engage in investment activities (stocks, real estate, bonds, etc.) or manage a business in Australia.
You are aged under 55 at the time of the invitation to apply for the visa
You must be nominated by an Australian State or Territory government agency before being invited to apply for this visa.
You must have at least 3 years of experience managing one or more qualifying businesses or eligible investments
For at least 1 of the 5 fiscal years immediately before you are invited to apply, have directly managed one of the following:
*a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or
*an eligible investment of at least AUD 2.5 million owned by you, your partner, or you and your partner combined
For the 2 fiscal years immediately before you are invited to apply, you, your partner, or you and your partner together, have business and personal assets with a net value of at least AUD2.5 million
A complying significant investment of at least AUD2.5 million. You must hold complying significant investments continuously for the life of your provisional visa. (See 4. Complying Investment Framework for details)
You must score at least 65 points on the points test
You must make a complying significant investment of at least AUD2.5 million and it must be invested in the following proportions:
(1) At least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
(2) At least AUD750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
(3) A 'balancing investment' of at least AUD1.25 million in managed funds
Business Innovation and Investment (Permanent) visa (subclass 888)
If you are the holder of a Business Innovation and Investment (Provisional) visa (subclass 188), you must have been physically present in Australia for at least 2 years in the 3 years immediately before you apply for the permanent visa
With this visa you can:
Free public education
Australian public health care
Exemption from overseas purchase tax
Real estate for rent in Australia
Note: This document is for reference only, all terms are subject to the written contract.