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