188 is a provisional temporary business skills visa. The visa allows people who have a successful business or investment career and have a genuine and realistic commitment to be involved in investing or business in Australia. Investor 188 visa is valid for 4 years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their visa for at least 2 years. This is a state or territory sponsored provisional visa with no minimum English requirement and is valid for four years. Applicants may be inside or outside Australia at the time of visa grant or application
Business Innovation and Investment
Business Innovation and Investment (Subclass 188) Visa
Who can get Business innovation and Investment 188 Visa?
The innovation points test gives points for various elements of human capital and business innovation. The test also includes objective measures of business performance. It aims to select innovative entrepreneurs who will transfer their skills to Australia and diversify our existing pool of business expertise. The innovation points test does not apply to significant investor, Premium investor and Entrepreneur stream.
Points are awarded for:
- English language ability
- Experience in business or investment
- Net personal and business assets
- Business turnover
- State government endorsement
- Have points tested pass mark of 65
- Submit an EOI in SkillSelect
- Be less than 55 years of age or the nominating jurisdiction must provide their support to waive the age requirement.
- Meet health and character requirement
- Meet additional criteria of the stream in which you are applying for
How long to process Business innovation and Investment 188 Visa?
The processing time is between 9-12 Months.