Business Innovation & Investment (Provisional) visa (subclass 188)
This visa is for people who want to own and manage a new or existing business in Australia, or to invest in an Australian state or territory. 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.
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.
Useful tips
Expressions of Interest – Business Innovation Stream and Investor Stream
The Expression of Interest (EOI) is the document that triggers nomination by an eligible government organisation or an invitation by the Department of Home Affairs to apply for a visa.
Great care must be taken in the completion of the EOI. If false information is given, a future visa application may be refused, or any visa may be cancelled.