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. meet certain requirements and maintain investment activity in Australia can quickly immigrate with their accompanying family members, and the visa period is five years.
No age restriction, English Proficiency Assessment, and points test
You must be nominated by an Australian State or Territory government agency or Austrade before being invited to apply for this visa.
A complying significant investment of at least AUD5 million (See 4. Complying Investment Framework for details)
Not have a history of involvement in unacceptable activities
The highest audit priority among the 188 categories
3. Complying Investment Framework
If you are invited to apply for this visa, a complying significant investment of at least AUD5 million, and have a genuine intention to hold that investment for the life of your provisional visa. It must be invested in the following proportions:
(1) At least AUD1 million (20%) in venture capital and growth private equity funds which invest in start-ups and small private companies
(2) At least AUD1.5 million (30%) 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 AUD2.5 million (50%) in managed funds
The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.
4. Procedure of application
Business Innovation and Investment (Permanent) visa (subclass 888)
(1) If you were invited to apply for this visa, you must have held the provisional visa in the Significant Investor for at least 3 years
(2) For the whole period during which you held your Business Innovation and Investment (Provisional) (subclass 188) visa, have held a 'complying significant investment' (Investment of AUD5 million)
(3) If the company has been unable to operate as a 'qualifying business', you must have made a genuine attempt to operate the business as a 'qualifying business' (can apply extension for twice, extendable for two years each time)
(4) You must have been in Australia for at least 40 multiplied by the number of complete years in the period in which you held a subclass 188 visa in the Significant Investor stream
(5) No history of involvement in business or investment activities that are not generally acceptable in Australia.
(6) Commitment to continuing investing in Australia
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.