Subclass 188 Visa

This visa allows an applicant to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia.

Business Innovation and Investment Subclass 188 Visa Details

Business Innovation and Investment (Class EB) Subclass 188 Visa

This visa allows an applicant to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia.

Business Innovation Stream

This is a provisional visa for people with business skills to operate a new or existing business in Australia.

Investor Stream

This provisional visa requires you to invest at least A$2.5 million in investments and maintain business or investment activity in Australia.

Significant Investor Stream

This provisional visa requires you to invest at least A$5 million in 'Complying Significant Investments', and maintain investment activity in Australia.

Business Innovation Extension Stream

This visa lets a holder of Subclass 188 visa in Business Innovation and Investment stream to extend their stay in Australia, once for up to 2 years.

Significant Investor Extension Stream

This visa lets a holder of Subclass 188 visa in Significant Investor stream to extend their stay in Australia, once for up to 4 years.

Premium Investor Stream

This provisional visa is for people who are nominated by Austrade and who invest at least A$15 million in Australian Investments and/or Philanthropic contributions. Closed to new applications.

Entrepreneur Stream

This stream is for startup and early stage entrepreneurs who have been endorsed to develop their concepts and been nominated by a State or Territory government agency.

Including Family Members

If you have spouse/partner and kids, they can also be included in your application.

Subclass 188 Visa Eligibility

Business Innovation Stream Eligibility

For Subclass 188 visa in this stream you must score at least 65 on the points test, provide proof of business success, and you or your partner together have net business and personal assets of at least A$1.25 million.

Investor Stream Eligibility

For Subclass 188 visa in this stream you must score at least 65 on the points test, have atleast 3 years of experience managing one or more qualifying business or eligible investments, be nominated by a state or territory government agency to invest at least A$2.5 million that meets certain requirements, and have net business, investment and personal assets of at least AUD2.5 million.

Significant Investor Stream Eligibility

For Subclass 188 visa in this stream you must be nominated by a State or Territory government agency or Austrade to invest at least A$5 million that meets certain requirements and have a genuine intention to hold that investment for the life of your provisional visa.

Premium Investor Stream Eligibility

For Subclass 188 visa in this stream you must be nominated by Austrade, be invited to apply for this visa, invest at least A$15 million in Australian investments and/or philanthropic contributions that meet certain requirements, and have a genuine intention to hold the investment for the whole period of the visa (except any part of the investment that is a philanthropic contribution). This Stream is closed to new applicants.

Entrepreneur Stream Eligibility

You must be nominated by a State or Territory government agency, undertake or propose to undertake a 'Complying Entrepreneur Activity' in Australia, show a business plan for your entrepreneurial activity, and have at least competent English. A 'Complying Entrepreneur Activity' must relate to an innovative idea that will lead to:
- the commercialisation of a product or service in Australia, or
- the development of an enterprise or business in Australia.
This activity must not relate to any of the following categories:
- residential real estate
- labour hire
- purchase of an existing enterprise or a franchise in Australia

Subclass 188 Visa Eligibility for Extension

Business Innovation Extension Stream Eligibility

You must hold, or in certain cases must have held a Business Innovation and Investment Visa Subclass 188 in 'Business Innovation Stream' for at least three years, or hold or in certain cases must have held a Business Innovation and Investment Visa Subclass 188 in 'Business Innovation Extension Stream' and not have held that visa for more than once and be nominated by a State or Territory government agency.

Significant Investor Extension Stream Eligibility

hold a Business Innovation and Investment Visa Subclass 188 in the 'Significant Investor Stream', and have held that visa for at least 3 years or hold a Business Innovation and Investment Visa Subclass 188 in the 'Significant Investor Extension Stream' and not have held more than one of these visas and be nominated by a State or Territory government agency or Austrade.

Subclass 188 Applicaion Fees

Business Innovation Stream: Base Application Charge: A$6085, Additional Applicant who is at least 18: A$3045, Additional Applicant who is less than 18: A$1520.
Investor Stream: Base Application Charge: A$6085, Additional Applicant who is at least 18: A$3045, Additional Applicant who is less than 18: A$1520.
Significant Investor Stream:
Base Application Charge: A$8925, Additional Applicant who is at least 18: A$4465, Additional Applicant who is less than 18: A$2235.
Premium Investor Stream:
Not Applicable.
Entrepreneur Stream:
Base Application Charge: A$4115, Additional Applicant who is at least 18: A$2060, Additional Applicant who is less than 18: A$1030.
Business Innovation Extension Stream: Base Application Charge: A$730, Additional Applicant who is at least 18: A$370, Additional Applicant who is less than 18: A$185.
Significant Investor Extension Stream:
Base Application Charge: A$730, Additional Applicant who is at least 18: A$370, Additional Applicant who is less than 18: A$185.

Subclass 188 Processing Time

Business Innovation Stream: 75% of applications in 30 months, 90% of applications in 35 months.
Investor Stream: 75% of applications in 35 months, 90% of applications in 37 months.
Significant Investor Stream:
75% of applications in 16 months, 90% of applications in 22 months.
Premium Investor Stream:
Not Applicable.
Entrepreneur Stream:
75% of applications in 5 months, 90% of applications in 13 months.
Business Innovation Extension Stream: 75% of applications in 15 months, 90% of applications in 19 months.
Significant Investor Extension Stream:
75% of applications in 11 months, 90% of applications in 15 months.

Subclass 188 Visa from Victoria (VIC)

VIC 188 Business Innovation Stream Nomination

To be eligible to apply for Victorian Business Innovation Stream visa nomination, you must have a STEMM qualification or an MBA or relevant business history in a target sector and have an innovative business proposal. STEMM stands for 'Science, Technology, Engineering, Mathematics and Medicine'.

VIC 188 Investor Stream Nomination

To be eligible to apply for Victorian Investment Stream visa nomination, you must be able to make a 'Complying Investment' of at least A$2.5 Million in Victoria.

VIC 188 Significant Investor Stream Nomination

To be eligible to apply for Victorian Significant Investment Stream visa nomination, you must be able to make a 'Complying Investment' of at least A$5 Million in Victoria.

VIC 188 Entrepreneur Stream Nomination

To be eligible to apply for Victorian Entrepreneur Stream visa nomination, you must have a funding agreement in place with an authorised third party funding body for a total of at least A$200,000. Sources of funding are limited to Commonwealth Agencies, State and Territory Governments, Publicly funded research organisations, and Investors registered as Venture Capital Limited Partnerships (VCLP) or an Early Stage Venture Capital Limited Partnership/s (ESVCLP). The funds must be unencumbered and lawfully acquired.

VIC 188 Extension Stream Nomination

To be eligible to apply for Victorian nomination extension, you must hold a Victorian nominated Subclass 188 visa in 'Business Innovation Stream' or 'Significant Investor Stream' for atleast 2 years and 9 months. You either own and actively operate your Victorian business for at least 1 year and 9 months, or maintained complying investments for the duration of your provisional visa.

Subclass 188 Visa from New South Wales (NSW)

NSW 188 Business Innovation Stream

You must have combined net personal and business assets of A$1,750,000 for Sydney or A$1,250,000 for Regional NSW, and a qualifying ownership stake in 1 or 2 businesses that have a combined annual turnover of A$1,250,000 for Sydney or A$750,000 for Regional NSW, in two of the four most recent fiscal years, and a degree at least equivalent to an Australian Bachelor's degree, and 3 years of business experience in a NSW target sector, or 5 years in a non-target sector.

NSW 188 Investor Stream Nomination

You and your partner must have combined net personal and business assets of A$2,500,000, and a qualifying business in which you or your partner together had at least 10% ownership interest, or an eligible investment of at least A$2,500,000, and a degree at least equivalent to an Australian Bachelor's degree, and 3 years of business experience in a NSW target sector, or 5 years in a non-target sector. You must make a complying significant investment of at least A$2,500,000 and have a genuine intention to hold that investment for the life of your provisional visa. It must be invested as following: atleast A$500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies, at least A$750,000 in approved managed funds who invest in emerging companies listed on the Australian Stock Exchange, and a balancing investment of at least A$1,250,000 in managed funds.

NSW 188 Significant Investor Stream Nomination

You must make a complying significant investment of at least A$5,000,000 and have a genuine intention to hold that investment for the life of your provisional visa. It must be invested as following: atleast A$1,000,000 in venture capital and growth private equity funds which invest in start-ups and small private companies, at least A$1,500,000 in approved managed funds who invest in emerging companies listed on the Australian Stock Exchange, and a balancing investment of at least A$2,500,000 in managed funds.

NSW 188 Entrepreneur Stream Nomination

You must be accepted by a NSW Startup Accelerator Program or Startup Incubator Program. Accelerators and Incubators include (but are not limited to): Stone and Chalk, The Studio, 25fifteen, Cicada Innovations, BlueChilli, Fishburners, Future Transport Digital Accelerator, Microsoft ScaleUp Program, Caltex C-lab, Tank Stream Labs and The Founder Institute. You must have a funding agreement in place with an authorised third party funding body for a total of at least A$200,000. Sources of funding are limited to Commonwealth Agencies, State and Territory Governments, Publicly funded research organisations, and Investors registered as Venture Capital Limited Partnerships (VCLP) or an Early Stage Venture Capital Limited Partnership/s (ESVCLP). The funds must be unencumbered and lawfully acquired.

Subclass 188 Visa from South Australia (SA)

SA 188 Business Innovation Stream

If you are applying for the Business Innovation stream, you need to provide evidence that you have achieved a benefit to state requirement. You have invested A$300,000 (if you are under 55 years of age), or have invested A$600,000 (if you are 55 years of age or older); and have 2 full time employees. If you have invested in property then it must be A$1.2 Million (if you are under 55 years of age), or A$1.5 Million (if you are 55 years of age or older). If you have exported South Australia products then its value must be between A$750,000 - A$1.25 Million (if you are under 55 years of age), or between A$1.5 Million - A$2.5 Million (if you are 55 years of age or older).

SA 188 Investor Stream Nomination

If you want to apply for Investor Stream nomination then you must agree to make and maintain an investment of AUD$2.5 million (AUD$3.75 million if over 55 year of age) for the duration of the provisional visa in a complying investment fund. The complying investment fund must materially benefit South Australia.

SA 188 Significant Investor Stream Nomination

If you want to apply for Investor Stream nomination then you must agree to make and maintain an investment of AUD$5 million (AUD$3.75 million if over 55 year of age) for the duration of the provisional visa in a complying investment fund. The complying investment fund must materially benefit South Australia.

SA 188 Entrepreneur Stream Nomination

If you want to apply for Entrepreneur Stream nomination then you must propose a business that has the potential to become a sustainable high-growth start-up, with the future potential to employ South Australians. You must secure the support of a selected Service Provider that has reviewed and approved your proposed entrepreneurial activity. The selected service providers are Stone & Chalk, New Venture Institute (NVI), Moonshots, ThincLab and The Innovation & Collaboration Centre (ICC). Priority will be given to proposals that support the Government of South Australia’s nine priority Growth State sectors of Tourism, International Education, Defence Industry, Food Wine and Agribusiness, Hi-Tech, Health and Medical Industries, Energy and Mining, Space Industry and Creative Industries.

Subclass 188 Visa from Queensland (QLD)

QLD 188 Business Innovation Stream

If you want Business Innovation Stream nomination from Queensland, then you must demonstrate a genuine commitment to Queensland, have net business and personal assets of at least A$1.25 million ready to be transferred to Queensland after visa grant, and must invest in one or two qualifying businesses in Queensland after being granted visa: Business investment of at least A$400,000 if the proposed business will be established in the Greater Brisbane and Gold Coast regions; or business investment of at least A$300,000 if the proposed business will be established in regional Queensland.

QLD 188 Investor Stream Nomination

Must demonstrate a genuine commitment to Queensland, and have net business and personal assets of at least A$3 million ready to be transferred to Queensland, Australia (including A$2.5 million for Complying Investment and A$500,000 for Settlement in Queensland). Under Complying Investment Framework, 20% funds must be invested in Venture Capital & Growth Private Equity funds (VCPE) that invest in start-ups and small private companies, 30% in approved managed funds that must invest in emerging companies listed on the Australian Stock Exchange, and 50% in balancing investments of managed funds.

QLD 188 Significant Investor Stream Nomination

Must demonstrate a genuine commitment to Queensland, and have net assets of at least A$5 million, ready to be transferred to Queensland (Australia), to be invested under Complying Investment Framework, i.e. 20% funds must be invested in Venture Capital & Growth Private Equity funds (VCPE) that invest in start-ups and small private companies, 30% in approved managed funds that must invest in emerging companies listed on the Australian Stock Exchange, and 50% in balancing investments of managed funds.

QLD 188 Entrepreneur Stream Nomination

Queensland welcomes migrants who are startup and early-stage entrepreneurs who have been endorsed to develop their concepts. Eligibility criteria for this stream will be available in future.

Subclass 188 Visa from Western Australia (WA)

WA 188 Business Innovation Stream

Apart from meeting 'Department of Home Affairs' requirements, Applicant must submit a business proposal with their Subclass 188 Visa application which includes a detailed budget with costings to substantiate the net assets in business, new employment and total net assets in Western Australia for inclusion in their State nomination agreement for their Subclass 888 Visa application. The business proposal must clearly demonstrate how the business will contribute positively to the Western Australian economy and create jobs. Applicants and any family members (dependents) residing in Australia are required to live, work and/or study in Western Australia.

WA 188 Investor Stream Nomination

Applicants must propose net assets of at least $2.5 million invested in complying investments as specified by the DOHA, and agree to re-invest the $2.5 million complying investments into any Western Australian assets, upon maturity of the complying investment, and applicants and any family members (dependents) residing in Australia are required to live, work and/or study in Western Australia.

WA 188 Significant Investor Stream Nomination

Applicants must propose net assets of at least $5 million invested in complying investments as specified by the DOHA, and agree to re-invest the $5 million complying investments into any Western Australian assets, upon maturity of the complying investment, and applicants and any family members (dependents) residing in Australia are required to live, work and/or study in Western Australia.

WA 188 Entrepreneur Stream Nomination

Currently not available.

Applicants must propose a project with at least three dwellings which will generate the minimum required turnover amount in sales within the term of the visa as required by the DOHA. An applicant’s residence can be part of the business project but must be in addition to the minimum three dwellings and the required net business assets
The Business Migration Centre does not support the recycling of businesses for any visa subclass, as Western Australia seeks to attract new investment and new economic benefit for the State from business migrants.
International trading business that sources products overseas and sells them overseas will not qualify for state nomination. The majority of products or services must be sourced from businesses within Western Australia, and exported internationally.

Subclass 188 Visa from Tasmania (TAS)

TAS 188 Business Innovation Stream

Tasmania offers Business Innovation and Investment Visa Subclass 188 to successful business owners, innovators, and entrepreneurs with the ability to operate businesses and develop business concepts that will genuinely benefit Tasmania’s economy through innovation and new technologies, and enhancing industry capabilities.

High regard is given to the following:
- Generation of significant flow-on opportunities for the Tasmanian economy, including trade expansion and the creation and/or retention of local jobs.
- Partnership with at least one business partner who is a permanent resident or an Australian citizen.
- Likelihood that the initiative would not otherwise proceed without the direct involvement of the applicant.
- Environmentally sustainable initiatives.
- Investment in key sectors that will benefit Tasmania’s economy such as: aquaculture, agriculture and agribusiness, circular economy, minerals and mining, forestry, timber, and wood products, Antarctic and marine science, health and medical science, science and technology, space, information and communication technology, creative industries, tourism and hospitality, heritage management and restoration, renewable energy, bio renewal/ waste recycling, food production, hydrogen (engineering and construction) and extractive industries.
The following business activities will generally be excluded under the Business Innovation stream:
passive investment, general importing, real estate property investment and development, export of commodities and scrap metal, mining service operations (administration services for the mining sector) and setting up an existing franchise.

TAS 188 Entrepreneur Stream Nomination

You must be able to develop an endorsed innovative business concept and undertake entrepreneurial and/or start-up activities in Tasmania. Your business concept must promote innovation and new technology, or enhance industry capability and be an untested or unknown business model or include the ability to scale up and down without significant human resources.
High regard is given to activities related to one or more of the following sectors: renewable energy (including hydrogen and bio energy), bio renewal/waste recycling (including circular economy), defence and space, aquatech, agtech and marinetech, robotics, advanced and additive manufacturing, digital technology, including cyber security, big data, blockchain and lot internet of things), health and medical technology, particularly those that support current research projects (i.e. dementia, population health studies, survival in extreme environments) and creative industries.
The following business areas will generally be excluded under the Entrepreneur stream: cafés and restaurants, consulting firms/companies, employment agencies, export/import businesses/companies, franchises, foot reflexology, massage parlours, acupuncture, traditional chinese medicine, herbal dispensing, geomancy/fengshui, retail, residential real estate or labour hire, purchase of an existing business or franchise.

Subclass 188 Visa from Northern Territory (NT)

NT 188 Business Innovation Stream

The new criteria for Northern Territory nomination for 2021 - 2022 under the 'Business Innovation and Investment Program' are currently being worked on.

NT 188 Investor Stream Nomination

The Investor Stream is for those who will make at least a AU$1.5 million investment into NT Treasury Corporation Territory Bonds.

NT 188 Significant Investor Stream Nomination

This visa is if you are intending to invest at least AU$5 million into complying investments in Australia and want to maintain business and investment activity in Northern Territory (Australia). Australia's Northern Territory (NT) Government targets genuine, high calibre applicants who are willing to invest and do business in the NT. The prime factor considered for approval of NT nomination is the long-term benefit to the NT economy.

NT 188 Entrepreneur Stream Nomination

The Entrepreneur Stream is for entrepreneurs who have a funding agreement from a third party for at least AU$200 000 to undertake a complying entrepreneur activity.

Subclass 188 Visa from Australian Capital Territory (ACT)

ACT 188 Business Innovation Stream

This stream is for you if you plan to invest a minimum $200,000 to purchase or establish a business will be of economic benefit to the ACT, and make a personal commitment, and have sufficient personal funds, to settle in Canberra upon grant of the subclass 188 visa.

ACT 188 Investor Stream Nomination

This stream is for you if you make a complying investment of at least A$2.5 million and have a genuine intention to hold that investment for the life of your provisional visa, and agree that you and any family members (dependents) residing in Australia will live, work and/or study in Canberra.

ACT 188 Significant Investor Stream Nomination

This is stream is for you, if you make a complying investment of at least A$5 million and have a genuine intention to hold that investment for the life of your provisional visa, and agree that you and any family members (dependents) live, work and/or study in Canberra, such as Venture capital and growth private equity fund investing in start-ups and small private companies in the ACT; or Venture Capital Limited Partner (VCLP) fund component in a fund that is actively sourcing investment in the ACT.

ACT 188 Entrepreneur Stream Nomination

This stream is for you if you undertake, or propose to undertake, entrepreneurial activit in the ACT that relates to an innovative idea that is proposed to lead to the commercialisation of a product or service or the development of an enterprise of business in Australia. The entrepreneurial venture must not be related to residential real estate, labour hire or involve purchasing an existing business or franchise.

Subclass 188 Visa Document Checklist

For all Applicants to be included in the application

1. Identity documents such as passport, birth certificate, proof of name change such as marriage or divorce certificate.
2. If you are or have been married, widowed, divorced or permanently separated, provide proof such as marriage certificates, divorce documents, death certificates, separation documents or statutory declarations.
3. Provide an overseas police certificate from every country, including your home country, where you spent a total of 12 months or more in the last 10 years since you turned 16, any military service records or discharge papers if you served in the armed forces of any country.
4. Passport size photographs.

For Primary Applicant

5. All academic certificates and transcripts.
6. Employment reference letters and evidence of payslips.
7. English test results such as IELTS or PTE Academic or TOEFL or OET.
8. Any professional registration or license certificate.
9. Your curriculum vitae or resume that includes your full employment and educational history, including dates and positions held within last ten years.
10. Bank statements, tax records and superannuation record (If Skills Assessment is required).

All documents are to be color pdf files. Where documents are not in english, an authorised translated version needs to be provided.