Why apply for a Subclass 188 visa?

• Can live and work in Australia indefinitely
• Sponsor relatives for permanent residence
• Travel in and out of Australia
• Opportunity to apply for Australian Permanent Residence

 

Australia Business Innovation and Investment Provisional Visa (Subclass 188) Streams

Business Innovation and Investment Visa 188 has many streams available for applicants:

• Business Innovation Stream: This stream is available for young entrepreneurs who want to open a new business in Australia or who already have one. To qualify for this business stream, individuals must have a specific number of points on the points test (see below).
• Investor Stream: Individuals must run business and investment activities in Australia for this visa stream. In addition to the points test, you must invest AUD 2.5 million in an Australian State or Territory.
• Significant Investor Stream: Individuals must be nominated by an Australian State or Territory or a government agency to apply for this stream. You must also invest AUD 5 million, which is known as a complying investment.
• Entrepreneur Stream: Individuals are required to complete entrepreneurial activities in Australia and have a funding agreement for their business activities.

 

Requirements for Subclass 188 Visa

• A copy of your valid passport.
• A plan of your business goals in Australia (research or study in appropriate sectors, a plan of your investment activities, etc.)
• Bank statements show the net value of the business and personal assets.
• Proof that you own a business at the time of the application.
• Provide proof that you have managed your business with necessary decisions, have involved yourself in day-to-day activities, etc.
• Registered business license
• Financial statements of your established business that include a balance sheet, loss statement, and profit and cover:
  • Previous two financial years’ records before you receive an invitation for business visa 188.
  • Any other fiscal year from 4 years before you are invited to apply for visa 188.
• A detailed one-page chart describing your position in the company, staff members, their responsibilities, and so on.
• Proof that you, your partner, or both have a total of personal assets of AUD 800,000.
• Form 1139A for your statement of assets and liabilities position (SALP).
• Provide six photos of your business.
• Points test documents.
• Proof that you have English language proficiency.
• Character documents. You must have also scored 80 for your character and personal particulars assessments.
• If you assign someone to receive communication regarding the visa application, you must provide this form; however, if a migration agent is helping you, you should submit form 956.
• Health insurance with proof that you don’t consider any severe illnesses.
• Sign Australia’s values statement.

 

Eligibility Criteria for Subclass 188 Visa

• Applicant should be nominated by a state or territory government
• Age should be less than 55
• Meet the health requirements
• Meet Character requirements
• Submit an Expression of Interest (EOI) to be invited to apply
• Sign Australia’s Value Statement
• Should not have outstanding debts with the Australian government

 

Business Visa 188 Points Test

To get a business visa 188, you must score at least 65 points on the points test. The points test depends on your qualifications, skills, and profile. The Department of Foreign Affairs provides this guideline for the score chart:

The element that is evaluated	Details	Scores
Age	18-24	20
	25-32	30
	33-39	25
	40-44	20
	45-54	15
	55 and over	0
English Language Proficiency	Vocational English	5
	Proficient English	10
Educational Qualifications	Bachelors, a degree, or trade certificate issued by an Australian education provider.	5
	A Bachelor degree by a recognised educational provider.
	A Bachelor degree in business, science, or technology issued by an Australian education provider or by a recognised institution.	10
Financial assets	Not less than AUD800,000 million	5
	Not less than AUD1.3 million	15
	Not less than AUD1.8 million	25
	Not less than AUD2.25 million	35
Business Income (at least 2 of the four fiscal years before you are invited to apply)	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 Experience-Innovation Stream (have or had 1 or more businesses before you were invited to apply for a specified period of time)	For four years within the 5 years before your invitation	10
	For seven years within the eight years before your invitation	15
Business Experience- Investor Stream (you held an investment of at least AUD100,000 for a specified amount of time immediately before you apply)	For four years	10
	For seven years	15
Business Innovation Qualifications	Patents are registered and used daily in the main business for a year before the application/invitation	15
	Trademarks registered and used daily in the main business for a year before the application/invitation	10
	Ownership in or more businesses under a formal joint venture agreement for a year before the application/invitation (management and activity participation)	5
	An ownership interest in a business that gets at least 50% of its income from export trade	15
	You have an ownership interest in a business that has a grant from a government institution from your home country of at least AUD10,000 for a start-up or business expansion	10
	You have an ownership interest in a business that received venture capital funding of AUD 100,000 four years before your invitation.	10
Special endorsement	Your proposed business plan or investment is considered unique and important for the State or Territory where the nominating government body is.	10

 

Steps to Apply for Subclass 188 Visa

Step 1: Check your eligibility
Step 2: Arrange the checklist of documents required
Step 3: Apply for the "Subclass 888" Visa
Step 4: Wait for the Visa Status
Step 5: Settle in Australia permanently

 

Business Visa 188 Processing Times

The processing time for Subclass 188 is 14 months. Moreover, the more complete your application is, the less time it will take to review it.

 

How Much Does a Business Visa 188 Cost?

The cost of Business visa 188 ranges from AUD 730 to AUD 4,725.

Visa	Visa fee for applicants over 18	Visa fee for applicants under 18
Business visa innovation stream	AUD 1,470	AUD 730
Investor Stream	AUD 3,045	AUD 3,045
Significant Investor Stream	AUD 4,465	AUD 4,465
Premium Investor Stream	AUD 4,725	AUD 4,725
Entrepreneur Stream	AUD 2,060	AUD 2,060

 

How can Y-Axis help you?

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• Free eligibility check through the Australia Immigration Points Calculator
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• Job search services to find related jobs in Australia

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