Key Takeaways:
- The 188 Visa is for foreigners investing or running businesses in Australia, requiring specific funds and an invitation to apply.
- Various streams exist Business Innovation, Investor, Significant Investor, Premium Investor, and Entrepreneur, each with distinct requirements.
- Applicants must meet financial criteria, and ownership percentages, and have a strong business/investment background to qualify for different streams.
Imagine you’re an ambitious entrepreneur or a savvy investor eyeing opportunities in one of the world’s most dynamic and scenic countries—Australia. Whether you dream of launching a startup, growing your thriving business, or making significant investments in fresh markets, there’s a visa designed just for you. They call it the Australia Provisional Business and Investment Visa, or Subclass 188. This special temporary visa opens the door for global business talents to establish, manage, and expand their ventures while enjoying Australia’s vibrant economy and high quality of life.
But how do you know if you’ve got what it takes to secure this sought-after visa? Our guide will walk you through everything you need to know—from the essential eligibility criteria to the various visa streams available, and the step-by-step application process. Whether you’re interested in business innovation, investment, or entrepreneurship, this comprehensive breakdown is tailored to help you navigate your way into making your Australian business dreams a reality. Let’s dive in and explore the pathways to securing your Subclass 188 visa and embark on your next big adventure Down Under.
What is the Australia Provisional Business and Investment Visa (Subclass 188)?
The 188 Visa is a temporary Business Innovation and Investment Visa designed for individuals planning to invest in Australia, manage a business, or start a new venture.
Who Can Apply for the Business Visa 188?
To be eligible for this visa, you must:
- Possess a specific amount of personal and business funds.
- Receive an invitation before applying.
What Are the Different Streams of the Business Innovation and Investment Visa (Subclass 188)?
There are several streams available for the Subclass 188 visa, each catering to different business and investment needs.
What is the Business Innovation Stream?
This stream is ideal for young entrepreneurs who wish to start a new business in Australia or manage an existing one.
To qualify:
- You must achieve a specified score on the points test.
What is the Investor Stream?
This stream requires you to engage in business and investment activities within Australia.
To qualify:
- You must invest AUD 2.5 million in an Australian State or Territory.
- You must meet the points test criteria.
What is the Significant Investor Stream?
For this stream, you need to either be nominated by an Australian State or Territory or a government agency.
To qualify:
- You must invest AUD 5 million, known as the “complying investment.”
What is the Entrepreneur Stream?
This stream is for those involved in entrepreneurial activities within Australia.
To qualify:
- You must have a funding agreement for your business activities.
For more detailed information, visit the official Australian Government immigration page.
In summary, the 188 Visa provides a range of options for business people and investors wanting to contribute to the Australian economy.
Who Is Eligible for a Business Visa 188?
What Qualifications Are Needed for a Business Visa 188?
To be eligible for this visa, you must meet several specific requirements:
- Nomination: You need to be nominated by an Australian State or Territory before receiving an invitation to apply.
- Business Ownership: In the two years before your invitation, you must have owned businesses that generated at least AUD 750,000 in income each year.
Ownership Percentages Based on Income:
- You must own:
- 51% of a business if it makes less than AUD 400,000 per year.
- 30% if the business earns AUD 400,000 or more annually.
- 10% if the business is publicly listed.
- Assets: You need personal and business assets amounting to at least AUD 1.25 million.
- Career: You should have a profitable business career.
- Age: You must be under 55 years old.
How Do I Qualify for the Investor Stream?
For the investor stream, eligibility criteria include:
- Business or Investment Ownership: Within the five years before your invitation, you or your partner must have had at least a 10% stake in a qualifying business or an investment value of AUD 1.5 million for a year.
- Asset Value: You need to have assets worth AUD 2.25 million.
- Investment: An investment of AUD 1.5 million in the state or territory nominating you is required.
- Experience: At least three years of managing businesses or investments with documented success.
What Are the Requirements for the Significant Investor Stream?
For this stream, you must:
- Investment: Invest a minimum of AUD 5 million with the intention to hold it for at least four years.
How Do I Apply for the Premium Investor Stream?
To apply for the premium stream:
- Expression of Interest: Submit an expression of interest to Austrade.
- Invitation: Austrade will then extend an invitation.
- Investment: Invest at least AUD 15 million.
- Net Assets: Hold net assets valued at a minimum of AUD 15 million.
What Are the Criteria for the Entrepreneur Stream?
Meeting the entrepreneur stream criteria involves:
- Expression of Interest: Submit an expression of interest.
- Nomination: Receive a nomination from an Australian State, Territory, or government institution.
- Entrepreneurial Activity: Be involved in entrepreneurial activity in Australia with a genuine intention to continue.
- Funding: Secure funding of at least AUD 200,000 from an approved party.
For further detailed information, you can visit the official Australian Government website on the Business Innovation and Investment Program.
This structure should simplify understanding of the eligibility and requirements for the Business Visa 188, catering to potential applicants looking for precise information.
What Documents Do I Need to Submit with My Business Visa 188 Application?
To support your Business Visa 188 application, you’ll need to provide a variety of documents. Here’s a detailed list of everything required:
Recent Passport Pages
- A copy of the pages from your recent passport.
Business Plans and Goals
- An outline of your business plans and goals in Australia, including:
- A description of your research or study in appropriate sectors.
- An outline of your investment activities.
Financial Evidence
- Bank statements showing the net value of your business and personal assets.
- Financial statements prepared by an independent accountant according to international accounting standards, which must include:
- Balance sheet.
- Profit and loss statement.
- Records from two fiscal years before you are invited to apply.
- Records from any fiscal year within four years before you are invited to apply.
Proof of Business Ownership and Management
- Proof that you own a business at the time of the application.
- Evidence of your management role, such as essential decision-making and daily activities involvement.
- Your business license proving that your business is registered.
- Evidence that you partially own the business.
- Six photographs of your business premises (building, setup, etc.).
Asset Ownership and Value
- Evidence that you, your partner, or both together, have a total of personal assets worth AUD800,000. These assets must be transferred within two years after you obtain the visa.
- Form 1139A for your statement of assets and liabilities position (SALP).
- Proof of ownership for each asset, its value, and any liabilities.
Points Test and Language Proficiency
- Points test documents.
- Proof of functional English language proficiency.
Character and Health Documentation
- Evidence that you are of good character, including:
- Form 80 for character assessment and personal particulars.
- Recommendation to obtain adequate health insurance during your stay, and you may need to provide proof of no serious illnesses.
Other Required Information
- Details of any losses or insolvency, if applicable.
- Signature on Australia’s values statement.
What Additional Documents Are Needed When Applying with Family Members?
If applying with family members, include the following:
- Partner’s identity documents.
- Marriage certificate or evidence of relationship.
- Copies of children’s birth certificates (if applying with children).
- Copies of adoption papers (if applicable).
- Parental consent or a statutory declaration.
- Proof of dependency and Form 47a for children over 18 years old.
What Additional Documents Are Needed for the Investor Stream?
For applications under the investor stream, include these:
- A list of all funds in your latest statement of assets and liabilities position intended for the AUD1.5 million investment.
- Proof of at least three years of business ownership or management, or owning/managing an eligible investment of AUD1.5 million.
What Additional Documents Are Needed for the Significant and Premium Streams?
For the significant and premium streams, provide:
- A detailed description of your investment plans and the amounts for each investment.
- Declaration and portfolio of your assets’ source of funds, proving the legality of these funds.
What Additional Documents Are Needed for the Entrepreneur Stream?
If applying under the entrepreneur stream, prepare:
- Your funding agreement.
- A comprehensive business plan.
- Proof of your ownership interest in the entrepreneurial activity.
These documents will help ensure your application is complete and gives you the best chance of a successful outcome. For detailed and specific requirements, visit the Australian Government’s official immigration website.
Important Question:
- Do all documents need to be submitted for every stream within Visa 188?
- No, not all documents are required for every stream. Specific requirements vary depending on the visa stream you are applying for. Check the specific requirements on the ImmiAccount platform.
This list aims to guide you through the necessary documentation, ensuring a smoother application process for Business Visa 188 in Australia.
How Do I Apply for a Business Visa 188?
What Are the Steps to Apply for a Business Visa 188?
To apply for the Business Visa 188, follow these two steps:
- Apply Online via ImmiAccount
- Create an ImmiAccount if you don’t have one.
- Submit the visa application form and pay the required fee through ImmiAccount.
- Ensure you pay the correct fee, as your application cannot be processed without it.
- Send Your Application by Post
- Complete the payment and submission of the visa application form.
- Send your documents to the Adelaide Business Skills Processing Centre.
- For more details on how to prepare your documents, refer to the official Australian Government Immigration website.
Do I Need an Invitation to Apply?
Yes, you must receive an invitation from the Immigration Office to apply for this visa. The invitation letter will contain all the necessary information for your application.
Where Do I Send My Documents If Applying from Hong Kong, China, Macau, or Taiwan?
If you are applying from Hong Kong, China, Macau, or Taiwan, send your documents to the Australian Consulate-General Hong Kong.
By following these steps and guidelines, you can smoothly proceed with your Business Visa 188 application.
How Long Does It Take to Process a Business Visa 188?
For the Business Visa 188, the Immigration Office doesn’t set a specific processing time. The more complete your application is, the quicker it will be reviewed.
What Do I Need to Score on the Business Visa 188 Points Test?
To qualify for the Business Visa 188, you must score at least 65 points on the points test. Your score is based on your qualifications, skills, and profile.
Business Visa 188 Points Test Breakdown
Here is a detailed breakdown of the scores you can earn based on different criteria:
- Age
- 18-24: 20 points
- 25-32: 30 points
- 33-39: 25 points
- 40-44: 20 points
- 45-54: 15 points
- 55 and over: 0 points
- English Language Proficiency
- Vocational English: 5 points
- Proficient English: 10 points
- Educational Qualifications
- Bachelor’s degree or trade certificate from an Australian provider: 5 points
- Bachelor’s degree from a recognized provider: 5 points
- Bachelor’s degree in business, science, or technology from an Australian provider or recognized institution: 10 points
- Financial Assets
- Not less than AUD 800,000: 5 points
- Not less than AUD 1.3 million: 15 points
- Not less than AUD 1.8 million: 25 points
- Not less than AUD 2.25 million: 35 points
- Business Income (at least 2 of the four fiscal years before you are invited to apply)
- Not less than AUD 500,000: 5 points
- Not less than AUD 1 million: 15 points
- Not less than AUD 1.5 million: 25 points
- Not less than AUD 2 million: 35 points
- Business Experience – Innovation Stream
- Four years within the 5 years before your invitation: 10 points
- Seven years within the eight years before your invitation: 15 points
- Business Experience – Investor Stream
- Held an investment of at least AUD 100,000 for four years: 10 points
- Held an investment of at least AUD 100,000 for seven years: 15 points
What Are the Additional Qualifications for the Business Visa 188?
Additional qualifications that can boost your points include:
- Business Innovation Qualifications
- Patents registered and used daily in the main business for a year before the application/invitation: 15 points
- Trademarks registered and used daily in the main business for a year before the application/invitation: 10 points
- Ownership in a business under a formal joint venture agreement for a year before the application/invitation: 5 points
- Ownership interest in a business that gets at least 50% of its income from export trade: 15 points
- Ownership interest in a business receiving a grant from a government institution of at least AUD 10,000 for a start-up or business expansion: 10 points
- Ownership interest in a business that received venture capital funding of AUD 100,000 four years before the invitation: 10 points
- 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 points
For further official details and guidelines, please visit the Department of Home Affairs here.
How Much Does a Business Visa 188 Cost?
The cost of a Business Visa 188 primarily depends on the stream you are applying for. Here’s a breakdown of the fees:
- General Business Visa 188 Fee: AUD5,375
Stream-Specific Fees:
- Significant Investor Stream: AUD7,880
- Entrepreneur Stream: AUD4,045
- Premium Investor Stream: AUD9,455
Are There Additional Fees for Applicants?
Yes, additional fees apply based on the age of the applicants. Here are the details:
Visa Fees Based on Age:
- Business Visa Innovation Stream:
- Applicants over 18: AUD1,470
- Applicants under 18: AUD730
- Investor Stream:
- Applicants over 18: AUD3,045
- Applicants under 18: AUD3,045
- Significant Investor Stream:
- Applicants over 18: AUD4,465
- Applicants under 18: AUD4,465
- Premium Investor Stream:
- Applicants over 18: AUD4,725
- Applicants under 18: AUD4,725
- Entrepreneur Stream:
- Applicants over 18: AUD2,060
- Applicants under 18: AUD2,060
Is There a Second Installment Fee?
A second installment fee is required for a Business Visa 188:
- Main Applicant: AUD9,795
- Family Members: AUD4,890 each
“If your applicants can’t provide evidence that they have a functional level of English, they must pay the second installment, or you must pay for them.”
The Immigration Department will inform you when to make this payment. You must also provide a declaration stating that you will cover the fees for your dependents if necessary.
For more detailed information regarding the Business Visa 188 and whether you qualify, please visit the official Australian government immigration page.
How Long Is a Business Visa 188 Valid For?
The Business Visa 188 is valid for four years and three months.
For applicants who applied before July 1, 2015, the visa is valid for four years.
Can I Stay Longer with a Business Visa 188?
Yes, you can stay longer by applying for a new Business Visa 188. If you are under the Business Innovation Stream or the Significant Investor Stream, you can extend your stay by applying for the Business Extension Visa Stream.
Can I Get Permanent Residence With a Business Visa 188?
You can apply for permanent residence with a Business (Permanent) Visa 888.
- If you applied for the Business Visa 188 before July 1, 2015, you are eligible to apply for permanent residence after three years and eleven months.
- If you are not ready for permanent residence, you can extend your visa under the Extension Stream (Significant Investor or Innovation Stream only).
Can I Bring Family Members With a Business Visa 188?
Yes, you can include family members when you apply for the Business Visa 188.
Additionally, you can sponsor other family members to come to Australia.
Can I Travel With a Business Visa 188?
Yes, the Business Visa 188 allows multiple entries, so you can travel freely with it.
What if My Visa Application Is Denied?
If your visa application is denied, you may appeal the decision.
“You will receive a letter from the department stating whether you have the right to appeal or not.”
Do I Get a Refund if My Visa 188 Is Refused?
No, you do not get a refund of your application fee.
However, you will receive a refund for the second installment payment made for your family members.
What Are My Obligations After Getting a Business Visa 188?
To maintain your Business Visa 188, you must:
- Own or have shares in a business in Australia
- Participate in day-to-day activities of the business
Business Responsibilities in Australia
As a business owner in Australia, you must:
- Create new job opportunities
- Trade with Australian goods (import and export)
- Launch or update innovative technology
- Create opportunities for international markets
- Enhance business competitiveness in the Australian economy
Follow Australian Work Laws
You must adhere to Australian workplace laws.
“All workers in Australia have rights and protections at work, so make sure you are aware of these since as a visa holder, these apply to you as well.”
For more details on Australian visa regulations and workplace laws, you can visit the Department of Home Affairs official website.
Certainly! Here are five official and helpful external resources relevant to the Australia Subclass 188 Business Visa, presented in a structured way:
1. Department of Home Affairs: Business Innovation and Investment (Provisional) Visa (Subclass 188)
Description: This is the official page dedicated to the Subclass 188 visa by the Department of Home Affairs. It contains comprehensive information about the different streams, eligibility criteria, required documents, fees, and application process.
Link: Business Innovation and Investment Visa (Subclass 188) – Official Government Page
2. ImmiAccount
Description: ImmiAccount is the online platform provided by the Australian Government for managing and submitting visa applications. It is essential for individuals applying for the Subclass 188 visa as it facilitates the submission and tracking of applications.
Link: ImmiAccount – Application Management
3. Business Talent (Permanent) Visa (Subclass 132)
Description: For those interested in transitioning from a provisional to a permanent visa, the Subclass 132 visa is relevant. It provides a pathway to permanent residency for businesspeople and investors.
Link: Business Talent (Permanent) Visa (Subclass 132)
4. Austrade: Premium Investor Visa (PIV)
Description: Austrade’s official page provides detailed information on the Premium Investor Visa (PIV), one of the specific streams within the Subclass 188 visa program. It outlines the eligibility criteria, nomination process, and investment requirements.
Link: Austrade – Premium Investor Visa (PIV)
5. Australian Government Business Registration Service
Description: This service assists applicants with the registration of their business in Australia, ensuring compliance with Australian regulations and requirements. It’s a critical step for those applying for the Business Innovation and Investment Visa.
Link: Australian Government Business Registration Service
These resources will serve as excellent starting points for anyone considering applying for the Subclass 188 Business Visa, providing official and detailed information on requirements, processes, and additional support services.
