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Business Migration Visa
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The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Programme. This visa is for people who want to own and manage a new or existing business in Australia, or to invest in Australia.
You must submit an Expression of Interest (EOI) through SkillSelect and be nominated by a state or territory government or Austrade on behalf of the Australian government before being invited to apply for this visa.
Including family in your application
You can include the following people in your visa application at the time of lodgement:
- your partner
- your child/step-child or your partner’s child/step-child
The visa includes five streams
Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
Significant Investor stream: for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
Premium Investor stream: for people who are willing to invest at least AUD15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
Entrepreneur stream: for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government.Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).
How long the visa lasts?
Your visa is valid for four years and three months from the date it is granted.Each extension stream lets you stay in Australia for another two years.
Provisional visa holders in the Business Innovation stream can apply for one extension for an additional two years so your visa can last up to six years.
Provisional visa holders in the Significant Investor stream can apply for up to two extensions for a total of additional four years so your visa can last up to eight years.
If you hold this visa under the Investor stream or Premium Investor stream, you cannot apply for an extension stream under this visa.
Note: If you applied for a subclass 188 visa in any stream prior to 1 July 2015, your visa will be valid for four years. If this applies to you and you hold a visa in the investor stream or the significant investor stream you will be eligible to apply for a subclass 888 permanent visa after 3 years and 11 months.
What this visa lets you do
establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government, make and maintain complying investments in Australia or participate in a complying entrepreneurial activity in Australia travel in and out of Australia for the life of your visa bring members of your family unit with you to Australia seek permanent residence by applying for a Business Innovation and Investment (Permanent) visa (subclass 888).