Business Innovation and Investment (Provisional) visa (subclass 188)

The business innovation and investment visas are suitable for people under 55 years of age (some waiver provisions on age restrictions may apply), who have business skills and want to set up and manage a new or existing business in Australia. This also applies to offshore Investors who want to invest into a business within Australia.  It is a temporary visa and provides an opportunity to apply later for a permanent visa (subclass 888); providing that the requirements of the visa are still met.

There are 5 streams for this visa, each with their own requirements:

• Business Innovation Stream - Suitable for people with business skills who want to manage an existing business, develop or create a business in a state or territory in Australia.
• Investor Stream - Suitable for people who want to make a designated investment in a state or territory in Australia of AUD 1.5 million and maintain business and investment activity.
• Significant Investor Stream - Suitable for people who want to invest into ‘complying significant investments’ in Australia of AUD 5 million and maintain business and investment activity.
• Premium Investor Stream - Suitable for people who want to invest into ‘complying premium investments’ in Australia of AUD 15 million and maintain business and investment activity. 
• Entrepreneur Stream - Suitable for people with a funding agreement of at least AUD 200,000 from a third party, with the intention to undertake a complying entrepreneur activity in the commercialisation of a product or service, or business in Australia.

The subclass 188 visa application requires the applicant to first submit an Expression of Interest (EOI) before being nominated by an Australian State or Territory government, and subsequently being invited to apply for the visa. Our lawyers are able to guide you through your Business Visa options, to ensure you choose the best stream for your situation and are able to meet the requirements. 

If you wish to discuss eligibility for the 188 visa or enquire about making an application and meeting the requirements, please contact Harbourside Legal Commercial to arrange an Initial Consultation.  

Business Innovation and Investment (Permanent) visa (subclass 888)

This visa is suitable for people who already hold a Business Innovation and Investment (Provisional) visa (subclass 188).  and having complied with the conditions on the 188 visa, now wish to make and application for a permanent visa.

Visa holders of the subclass 188 visa, under the business innovation stream, will be eligible to make the subclass 888 visa application after holding the visa for 2 years. Those who hold a visa under the premium investor stream will be eligible to apply for the 888 visa after 1 year. Those who hold a visa under the investor, significant investor, and Entrepreneur streams will need to wait 4 years before making the subclass 888 visa application.

Visa applicants who hold a subclass 444 visa (a special category visa only granted to New Zealand citizens when they arrive in Australia to visit or stay), may also be eligible for this visa.

If you wish to discuss eligibility for the 888 visa or enquire about making an application and meeting the requirements, please contact Harbourside Legal Commercial to arrange an Initial Consultation.  

Business Talent (Permanent) visa (subclass 132)

This visa is suitable for people who want to establish a business or develop an existing business in Australia. It is a permanent visa and there are two streams:

• Significant Business History Stream - Suitable for business owners or part-owners of an existing business with a proven management record, who want to create a business in Australia or develop and participate in an existing qualifying business in Australia. The person must also have assets of AUD 1.5 million and a business turnover of AUD 3 million.

• Venture Capital Entrepreneur Stream - Suitable for people have received at least AUD 1 million in funding from an Australian Venture Capital firm, who is a member of the Australian Venture Capital Association Limited (AVCAL).

The subclass 132 application requires the applicant to first submit an expression of interest, before being nominated by a State or Territory government and subsequently issued an invitation for the visa.

Our lawyers are able to guide you through your options for Business visas, to ensure you choose the best stream for your situation and are able to meet the requirements. If you wish to discuss eligibility for the 132 visa or enquire about making an application and meeting the requirements, please contact Harbourside Legal Commercial to arrange an Initial Consultation.