Business Provisional Visa

188A VISA-Business and Innovation Stream
188B VISA- Investor Stream
188C VISA- Significant Investor Stream
188D VISA- Premium Investor Stream
188E VISA- Entrepreneur Investor Stream
Business Innovation Points Test
188A VISA-Business and Innovation Stream

Duration and Condition
Planning to set up your business in Australia? Apply for the Business and Innovation VISA and get a chance to receive a permanent residence in the country. Get the 4-year temporary VISA once you establish ownership in any Australian business. Benefit from the 2-year extension on your temporary VISA once you hold the Business and Innovation VISA for 3 consecutive years.

Do I apply in Australia or from Overseas?
You can apply for the VISA either in Australia or from overseas. While you apply from Australia, you must file your application with an existing VISA or a bridging A, B, C VISA program.

Visa Criteria
While you file your application, make sure you meet all the specific requirements

  • Your must be the owner of a business with a turnover of AUD 500,000 for at least 2 of the last 4 fiscal years
  • You have net assets equal to AUD 800,000
  • Must be under the age of 55. Exceptions are allowed in the case where the nominating state certifies you as an exceptional economic benefit
  • Appear and secure at least 65 passing marks in the Business and Innovation test
  • Demonstrate an exceptional and profitable business career

State Territory Nomination
If you have an exceptional business performance and have been nominated by any Australian state or territory government, you can befit from this VISA program.

Eligibility for Permanent Residence
Once you get a temporary VISA, the next step is to qualify for a more permanent Business and Innovation VISA. Also known as the Residence Subclass 888 VSA program, it has the following requirements

  • Two years prior to application, you already have been in Australia on a 188 Visa for a period of at least 12 months
  • You have been successfully running a business in Australia with an annual turnover of $300,000 for the past 2-4 years before your application for a permanent residency.
  • Either you or your partner must meet the following additional criteria (two out of three)
    • Business assets of at least $200,000
    • Minimum assets of at least 600,000 in Australia
    • At least two of Australian citizens are employed full-time in your business
188B VISA- Investor Stream

Duration and Condition
Once you maintain an investment in Australia for the 4 years you can apply for the subsection 188B Investor Stream Visa Program. It is a temporary 4 year Visa program that opens your gate to the permanent Business Innovation and Investment Residency Visa program in Australia.

Do I apply in Australia or Overseas?
You can file your application either from Australia or overseas. In case you’re applying from Australia you must hold a bridging Visa of class A, B, or C.

Visa Criteria
To apply for this Visa you must own a business in Australia and be prepared to invest at least AUD 2.5 million in Australia. Additionally, you must have

  • Net assets of at least AUD 2.25 million in the last 2 fiscal years
  • Under 55 years of age. Exceptions are allowed if you are certified of an exceptional economic benefit by any of the state or territory governments
  • You meet the passing marks, which are currently 65 in the Business Innovation and Investment Test
  • Make an investment of AUD 1.5 million in Australian bonds prior to receiving the Visa
  • Demonstrate management skills and have an experience of 3 years or greater in managing a business or eligible investment
  • In the past 5 fiscal years, for at least 1 year you have
    • Business assets of at least $200,000
    • Minimum assets of at least 600,000 in Australia
    • At least two of Australian citizens are employed full-time in your business

State Territory Nomination
The Investor Stream Visa program applies to you if you are nominated by the Australian state or territory government. File for an Expression of Interest to be eligible for the nomination.

Eligibility for Permanent Residence
To qualify as a permanent residence in the Subclass 888 Visa, meet the following criteria

  • Prior to your application, you must have been in Australia for at least 2 years in the Subclass 188B Visa
  • You have been investing constantly in any Australian state or territory bonds since the last 4 years
188C VISA- Significant Investor Stream

Duration and Condition
The Significant Investor Stream is a temporary visa with a duration of 4 years. You can apply for it once you have been investing in Australian bonds for the past 4 years. With this Visa, you need to

  • Spend at least 40 days in Australia in a year for 4 years
  • Get sponsored by a state or territory government to qualify for permanent residency, which is subclass 888 Visa.

Do I apply in Australia or Overseas?
You can file your application either from Australia or overseas. In case you’re applying from Australia you must hold a bridging Visa of class A, B, or C.

Visa Criteria
With no upper age limit, anyone can apply for the Significant Investor Stream Visa with the following fulfilled criteria

  • Invest at least AUD 5 million in a complying investment category
  • Complying investment category includes
    • $500,000 in Venture capital, as well as equity funds investing in start-ups and small enterprises
    • $1.5 million in approved managed funds. These funds must be investing in companies listed on the Australian Stock Exchange
    • $3 million of balancing investment in managed funds. These funds must be investing in ASX listed companies, Australian corporate bonds or notes, annuities, and commercial real estate

Mandatory State, Territory/Aus Trade Nomination
The Significant Investor Stream Visa is only available for those nominated by the state, territory government, or Aus Trade.

188D VISA- Premium Investor Stream

Duration and Condition
The Premium Investor Stream Visa is a four year temporary Visa program.

  • After maintaining investment for over a year, you are eligible to apply for a permanent residency via the Business Innovation and Investment Subclass 888 Visa.

Do I apply in Australia or Overseas?
If you’re in Australia while applying for this visa, make sure to show your substantive Visa or a Bridging A, B,C class Visa. You can also apply from overseas, via the Skilselect system.

Mandatory Nomination by Aus Trade
A mandatory nomination is required by the Aus Trade for this Visa

Visa Criteria
With no upper limit, anyone making a premium investment if AUD 15 million can qualify for the Visa program. The premium investment include

  • Assets listed in the Australian securities exchange
  • Bonds and notes of corporate nature. These must be issued by the Australian Exchange-listed entity, Australian corporate bonds that are rated investment grade and AFS licensed debt rating agency notes.
  • Limited companies proprietary in Australia
  • Real estate excluding residential
  • Australian registered life companies issued annuities
  • Philanthropic contribution approved by the state or territory
188E VISA- Entrepreneur Investor Stream

Duration and Condition
The Entrepreneur Investor Stream is a four year temporary Visa program. To qualify for a permanent Business Innovation and Investment residency visa, you must

  • Spend at least two years in Australia on your Entrepreneur visa
  • Get sponsorship from the state or territory government

Do I apply in Australia or Overseas?
Regardless of whether you’re applying from Australia or overseas, you need to fill the application online via the SkillSelect system

State Territory Nomination
This visa requires a mandatory nomination by the state or territory government in Australia.

Visa Criteria
The Entrepreneur Investor Stream visa has the following criteria

  • State or territory nomination
  • Excellent English
  • The upper age limit of 55 years. Exception in case the Australian government provides a certificate of ‘exceptional economic benefit’
  • An agreement with funding of $200,000 or above for a business venture in Australia
  • Existing 30% ownership in a venture

Which Business activities are Acceptable Under Entrepreneur Investor Stream Visa?
Innovative activities are permitted under this visa-

  • An enterprise or business
  • Commercialized product or service

Excluded activities include

  • Real estate
  • Franchise or purchase of an existing business
  • Labor hire

Eligible Funding
The eligible funding of $200,000 is mandatory for this visa and must involve the transfer of at least 10 percent funds from any of the following sources, within 12 months of initiating business activity-

  • State and territory government
  • Commonwealth organizations
  • Research organizations funded by the public
  • Venture capital limited partnerships investors
Business Innovation Points Test

A Busines Innovation Points Test is mandatory for applicants in the temporary subclass 188 of visas. They need to pass the test with a minimum of 65 marks to proceed with a permanent residency. They are judged based on the following parameters-

Age:- The points are awarded for different age brackets until the age of 55.

Points Age Band
20 Between 18 and 24
30 Between 25 and 32
25 Between 33 and 39
20 Between 40 and 44
15 Between 45 and 54
0 55 and over

English Language Ability
There are no minimum English language requirements, however, applicants with less familiarity to the language need to pay an additional English language charge.

  • Vocational English: 5 points
  • Proficient English: 10 points

Qualifications
Points for qualifications that are awarded by an Australian Institution or the recognized overseas institution are provided.

  • Diplomas or Bachelor degree: 5 points
  • Degree in Business, Science, or Technology: 10 points

Net Personal Assets

Net business and personal assets of you, your partner or you and your partner combined in each of the preceding 2 fiscal years of at least:

Not less than AUD800,000 5
Not less than AUD1.3 million 15
Not less than AUD1.8 million 25
Not less than AUD2.25 million 35

Business Turnover

The business turnover threshold must be met for the past 2 years out of the 4 years prior to application. This accounts for additional points
Not less than AUD500,000 5
Not less than AUD1 million 15
Not less than AUD1.5 million 25
Not less than AUD2 million 35

 

 

Business Innovation stream only
Business experience
You have held 1 or more main businesses before you were invited to apply for the visa for:
Not less than 4 years within the preceding 5 years 10
Not less than 7 years within the preceding 8 years 15
Investor stream only
Investor experience
Immediately before the time of application, you held eligible investments of at least AUD100,000 held for:
Not less than 4 years 10
Not less than 7 years 15
Business innovation qualifications
Patents or designs registered not less than 1 year before that time and  used in the day to day activities of the main business 15
Trademarks registered not less than 1 year before that time and  used in the day to day activities of the main business 10
Ownership in and day to day participation in the management of one or more main business operated under a  formal joint venture agreement/s entered into no less than 1 year before the time 5
An ownership interest in a main business/s that derives no less than 50% of its annual turnover from export trade 15
An ownership interest in a main business/s not more than 5 years before :

  • had an average annualized growth in turnover that was greater than 20% per annum over 3 continuous fiscal years; and
  • in at least one of the 3 fiscal years employed 10 or more employees for a total number of hours that was at least the total number of hours that would have been worked by 10 full-time employees
10
An ownership interest in a main business/s that received :
  • a grant from a government body in your home country of at least AUD10,000 for the purposes of the early-phase start-up of a business, product commercialization, business development, or business expansion
    or
  • venture capital funding of at least AUD100,000 not more than 4 years before the time of the invitation for the purposes of early-phase start-up of a business, product commercialization, business development, or business expansion
10

Sponsorship by the State or Territory: Getting sponsorship can make your application look more confident and earn you an extra 10 points on the test. Demonstrate your value and importance by getting a state or territory sponsorship.

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