What you need to know about Business & Investor 188 visa
I am an owner of a business, can I migrate to Australia?
Yes. You can consider applying for a Subclass 188 Business & Investor visa under the Business Innovation Stream. If you are successful in managing and developing a business, then you can consider this visa. You must have substantial ownership of a business with an annual turnover of at least AUD500,000. You must also have total net business and personal assets of at least AUD800,000.
I am an investor, can I migrate to Australia?
Yes. You can consider applying for a Subclass 188 Business & Investor visa under the Investor Stream. If you have at least AUD1.5 million to invest in an Australian State or Territory, and you have experience in managing a qualifying business or investment, then you can consider this visa. You must also have net business, investment and personal assets of at least AUD2.25 million.
Is there an age limit for the business or investment visa?
Yes. You must be under 55 years old at the time of the invitation to apply for the 188 Business & Investor visa (please note Significant Investor Stream does not have age requirement). There can be an exception if your business will be of exceptional economical benefit to Australia.
What is the English language requirement?
If you do not have at least Functional English, you will be required to pay additional fees for your 188 Business & Investor visa application.
Is this a temporary visa?
Yes. This is a temporary visa and you it allows you to stay for 4 years and 3 months (Business Innovation Stream or Investor Stream). However, you may be subsequently eligible to apply for a subclass 888 visa which is a permanent visa.
What are the main steps to applying for a business and innovation visa?
The main steps involved are:
- Submit and Expression of Interest (EOI)
- Wait for invitation from the government
- Once invited, apply for the visa
What is Expression Of Interest?
For Business and Innovation visas, you must be invited by the government to apply for the visa. To get invited, you first must submit and Expression Of Interest (EOI) telling the government that you wish to apply for a the visa. You use the SkillSelect system to submit your EOI, and enter your detail. Your detail will then be entered into a database of other applicants, all waiting for an invitation. You need a minimum of 65 points to submit your EOI for Business Innovation and Investor streams.
What do I need to submit an EOI?
You will need to do a few things before you should submit your EOI. The main things include the following:
- Check your eligibility against the nominator States
- Complete an English Test
- Calculate how many points you have (calculate your points here)
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