Successful businessmen and investors who want to invest, launch, and establish a business in Australia can apply for a Business Innovation and Investment Provisional Visa.
The Program’s goal is to make it easier for people to live permanently in Australia by supporting the creation and operation of creative businesses there. As long as the State or Territorial government nominates those who hold temporary visas under the Business Innovation Stream or Significant Investor Stream for two-year renewals, they are eligible. This visa is the prerequisite for becoming eligible for a permanent Business Innovation and Investment visa (Subclass 888).
What does the Business Innovation and Investment Visa (Subclass 188) let you do?
The Business Innovation and Investment Visa offers a variety of possibilities for people with successful business or investment careers to get permanent residency in Australia (Subclass 188).
Family members may apply with the applicant and will be granted full rights to work and study in Australia.
Obtaining a Business Innovation and Investment (subclass 188) visa is the first stage in the process of becoming a permanent resident. Applicants who hold a business innovation and investment (subclass 188) visa and continue to control and manage their business or investment activities may be qualified. Depending on the stream the applicant has applied for, the duration for which the Business Innovation and Investment (subclass 188) visa must be held has been specified below.
Australia Business Innovation and Investment Provisional Visa Streams
Business innovation and investment visa 188 has several streams available for applicants:
- Business Innovation Stream: This stream is appropriate for young business owners who plan to launch a new enterprise in Australia or who currently have one up and running. You need to achieve a certain number of points on the points exam to be eligible for this business stream.
- Entrepreneur Stream: You must do business and make investments in Australia in order to qualify for this visa stream. You must spend AUD2.5 million in an Australian State or Territory in addition to passing the points test.
- Significant investor stream: This is for those who want to continue their business and investment activities in Australia and are willing and able to invest at least $5 million towards complying with large investment requirements. A state or territory government may propose applicants, or the Australian government may do so through Austrade.
- Entrepreneur Stream: This is for individuals who have secured money from a third party in the amount of at least $200,000 to carry out an inspiring entrepreneurial activity that is expected to result in the commercialization of a good or service in Australia or the establishment of a firm there.
The applicant must be under 55 years old and speak English fluently, and in some cases, a state or territory may waive this condition if they consider the applicant’s proposed entrepreneurial activity will be exceptionally beneficial to the nominating state or territory.
How Do I Apply for a Business Visa 188?
There are two steps to applying for this visa:
- Apply online: Submit the visa application along with the necessary payment. If the appropriate fee is not paid, your application cannot be processed.
- Please mail your application: Sending your papers to the Adelaide Business Skills Processing Centre is possible once you have finished submitting your payment and the visa application form.
You must choose the Immigration Office to apply for this visa, and your invitation letter will contain all the information you need in order to apply.
For more information on Business Innovation and Investment, connect with the best migration consultant in Adelaide. When it comes to effective migration and excellent education consultancy, WILS Migration is a leading Registered Australian Migration Agent organization.