Business Innovation and Investment Visa
Some people may wonder if they can get residence in Australia by buying an investment property. The answer is ‘no’. However, there are other options – Business Innovation and Investment Visa. They offer options for both active investments in a new or existing business or passive investment in government bonds.
Business Innovation and Investment Visa (Subclass 188) – PROVISIONAL
This visa gives you the right to stay in the country on a temporary basis. To be eligible for the visa you need to receive a nomination from a state or territory, accept the invitation to apply, and score at least 65 on the point’s grid.
Advantages of the visa:
- Higher age threshold – up to 55 years.
- You can include spouse and dependent children in your visa application.
- Only Functional English (except Entrepreneur stream) is required or pay the second instalment.
- You can path from this visa to Business Innovation and Investment visa (subclass 888) which gives you the right to stay in Australia permanently.
This visa offers several streams, the details of which we will provide.
Business Innovation stream
Under these streams, you have the right to live in Australia for up to 4 years and 3 months (in some cases up to 6-8 years) to run a new business or business which already exists in the country. You must also provide evidence of possessing AUD 800,000 of total net business and personal assets.
The cost of visa starts from AUD 5,375:
The first instalment (payable at the time the application is made):
| Main applicant | AUD 5,375 |
| Family members (who are 18 or older) | AUD 2,685 |
| Family members (who are under 18) | AUD 1,345 |
The second instalment, payable before grant of visa if applicants do not have functional English:
| Main applicant | AUD 9,795 |
| Family members (who are 18 or older) | AUD 4,890 |
Investor stream
Under these streams you are required to invest funds in an Australian state or territory and maintain business or investment activity in the country. The required minimum investment capital is AUD 1.5 million. The advantage of this is that the investment is made only in government bonds. Since Australia as a sovereign has a high credit rating this guarantees the safety of your money. Another requirement is that your net business, investment and personal assets must be at least AUD2.25 million.
The possible duration of stay in Australia is up to 4 years and 3 months (in some cases up to 8 years).
The cost of visa starts from AUD 5,375:
The first instalment (payable at the time the application is made):
| Main applicant | AUD 5,375 |
| Family members (who are 18 or older) | AUD 2,685 |
| Family members (who are under 18) | AUD 1,345 |
The second instalment, payable before grant of visa if applicants do not have functional English:
| Main applicant | AUD 9,795 |
| Family members (who are 18 or older) | AUD 4,890 |
Entrepreneur stream
Under this stream, you have the right to live in Australia for up to 4 years and 3 months to conduct entrepreneurial activities. You need to provide evidence of a funding agreement of a minimum of AUD200,000 to accomplish entrepreneur work in Australia. You also have to possess at least competent English.
The cost of a visa starts from AUD 4,045:
The first instalment (payable at the time the application is made):
| Main applicant | AUD 4,045 |
| Family members (who are 18 or older) | AUD 2,025 |
| Family members (who are under 18) | AUD 1,015 |
The second instalment, payable before grant of visa if applicants do not have functional English:
| Main applicant | AUD 9,795 |
| Family members (who are 18 or older) | AUD 4,890 |
Business Innovation and Investment Visa (Subclass 888) – PERMANENT
This visa gives you the right to reside in the country permanently. To be eligible to apply for the visa you have to be a holder of Visa 188. Once you made the investment, stayed in Australia for at least 2 years, and met other requirements for Visa 188, you can apply for Visa 888.
Advantages of the visa:
- You can live permanently in Australia
- The right to work and study in Australia
- Possibility to enroll in Australia’s public health care scheme.
- You can include spouse and dependent children in your visa application.
The cost of the visa starts from AUD 2,590:
The first instalment (payable at the time the application is made):
| Main applicant | AUD 2,590 |
| Family members (who are 18 or older) | AUD 1,300 |
| Family members (who are under 18) | AUD 645 |
The second instalment, payable before grant of visa if applicants do not have functional English and haven’t paid the second instalment in relation to the application for Visa 188:
| Family members (who are 18 or older) | AUD 4,890 |
Business Talent (Subclass 132)
This visa is an immediate way to obtain permanent residence without having to comply with the requirement to have stayed on a provisional visa for a certain period of time as in the case of Visa 888.
This visa will suit those applicants who can create a new business or develop an existing one in Australia. To be eligible for the visa you need to receive a nomination from a state or territory, accept the invitation to apply, and have the required funding or assets as described in its particular streams.
The cost of the visa starts from AUD 7,855:
The first instalment (payable at the time the application is made):
| Main applicant | AUD 7,855 |
| Family members (who are 18 or older) | AUD 3,930 |
| Family members (who are under 18) | AUD 1960 |
The second instalment, payable before grant of visa if applicants do not have functional English:
| Main applicant | AUD 9,795 |
| Family members (who are 18 or older) | AUD 4,890 |
This visa offers two streams:
Significant Business History stream
This stream will suit experienced businessmen who intend to run a new or existing business in the country. You are required to possess a net value starting from AUD 1.5 million. The turnover of your business should be at least AUD 3 million per year for a minimum of 2 of the 4 financial years. You must also show the evidence of overall net assets minimum AUD 400,000 as of the ownership interest in one or more businesses for at least 2 of the 4 financial years just before the invitation to apply for the visa.
Advantages of the visa:
- Higher age threshold – up to 55 years.
- The right to work and study in Australia
- Possibility to enroll in Australia’s public health care scheme
- You can include spouse and dependent children in your visa application
- You are required to have just functional English skills (IELTS average band score at least 4.5) or you may choose to pay a second instalment instead.
Venture Capital Entrepreneur stream
You can apply for this visa if you have received venture capital funding from a member of the Australian Investment Council. The required funding must be not less than AUD1 million.
Advantages of the visa:
- The right to work and study in Australia
- Possibility to enroll in Australia’s public health care scheme.
- You can include spouse and dependent children in your visa application.
- You are required to have just functional English skills (IELTS average band score at least 4.5) or you may choose to pay the second instalment instead.