Subclass 188 Visa – Business Innovation & Investment Visas
Individuals that have a successful business or investing career have a range of options to secure permanent residency in Australia through the Business Innovation and Investment Visa (Subclass 188).
Applicants are able to include their family members in their application, who will be given full work and study rights in Australia.
The Business Innovation and Investment (subclass 188) visa, is the first step towards permanent residency.
Applicants that have continued to own and manage their business, or investment activities after holding their business innovation and investment (subclass 188) visa are generally eligible to apply for permanent residency via the Business Innovation & Investment (subclass 888) visa.
The amount of time that the Business Innovation and Investment (subclass 188) visa must be held is dependant on the stream the applicant has applied for and has been detailed in the information below.
Business Innovation Stream
This stream is for people with business skills who intend on establishing a business in Australia or to continue operating their business in Australia.
This stream is for people who are able to invest at least A$2.5M in Australian State/Territory issued bonds who meet certain requirements and intend to maintain business or investment activity in Australia.
Significant Investment Stream
This stream is for people who are able to invest at least A$5M in balanced complying Australian investment. It does not have an age limit or an English requirement and is not points-tested.
This stream is for people who are establishing a startup or are early stage entrepreneurs who have been endorsed to develop their concepts in Australia by an Australian State or Government agency.
Important Considerations For The SC188A/B/C Visa
When researching or preparing to commence your application for a Business Innovation & Investment (subclass 188) visa it is important to note the following:
- All applications need to be ‘nominated’ by a State or Territory of Australia and each state and territory have their own criteria on the types of applications they will nominate
- A ‘pass’ of 65 points on the Business Points Test is required for the Business Innovation Stream (SC188A) and the Investor Stream (SC188B)
- All assets and funds that you are using to meet the criteria of the application must be able to be clearly identified as being ‘lawfully acquired’. This includes showing tax returns and other independent evidence to satisfy the Department of the source of funds used to purchase your assets or investments.
Preparing and making an application for a SC188 visa (including obtaining a successful state nomination) is an extremely complex process. It is highly advisable that you seek legal representation from lawyers that are experienced and very familiar with the requirements of the SC188 visa streams. Ethos Migration Lawyers has assisted many clients from all over the world successfully be granted their SC188 visas for themselves and their family members. If you would like further information on the Business Innovation & Investment (subclass 188) visa, or wish to schedule a consultation please contact our team of immigration lawyers and registered migration agents on 1300 083 843, make an online enquiry or contact us via email at email@example.com.