Visa 188A – Business Innovation Stream Applicants – Extending Your Stay in Australia

The 188 visa is a state nominated four-year provisional visa. This is a pathway to permanent residency. This visa is for overseas business owners and investors. It allows the applicants to own and manage a new existing business in Australia. You will have to be nominated by the state or territory government or Australian agency to be eligible to apply. 

When it comes to the 188 visa there are several different streams, each with individual specific requirements regarding the applicant’s personal assets, business assets, annual turnover, minimum investment amounts in Australia, staying period in Australia, and more.

Choice of four streams

 You have a choice of four streams for this visa

·        Innovation:

This is for those interested in owning and managing a new or existing business.

·        Investors

This is for the investors and the business owners looking to invest.

·        Significant investor

 This is for those interested in making a significant complying investment in Australia.

·        Entrepreneur

 This is for those who have an innovative business ready to be commercialised.

Eligibility criteria

To be considered for this business innovation and investment visa, you have to first meet the Australian Government’s Department of Home Affairs (DHA) criteria. 

Visa requirements

·        For the Innovation, Investor and Entrepreneur streams, the applicants must be younger than 55 years of age. 

·        Applicants must be nominated by an Australian state or territory government. They will have to submit a detailed business proposal with their application.

·        Applicants must lodge an expression of interest and receive an invitation from the Department of Home Affairs to apply for this visa.

·        At least 65 points should be scored by the applicants on the innovation points test. Based on the factors listed below, the points are awarded.

1.      Age

2.      English language ability

3.      Qualifications

4.      Experience in business or investment

5.      Net personal and business assets

6.      Business turnover

7.      Innovation

8.      State or territory nomination- special endorsement

Why should you apply for the Business Innovation and Investment visa?

The 188 visa is a temporary visa valid for up to 5 years and permits the applicants to own an Australian business. During that time, you are entitled to live, work and study in Australia - and you can bring the members of your immediate family with you too! This visa establishes a pathway to permanent residency upon satisfying specific requirements.

Holding this visa allows you to do the following things:

·        Start a new business or develop an existing business or invest in Australia.

·        Invest in Australian businesses. This has to be done with a state or territory government in Australia

·        Purchase and maintain complying assets in Australia

·        You can travel in and out of Australia while on the visa

·        Bring your family members to Australia

·        Apply for Permanent Residence 

Australian immigration law is complex and changes frequently. We recommend you consult an immigration lawyer or registered migration agent to confirm you meet the requirements of the 188 visa.