Business Innovation and Investment Provisional visa (Subclass 188)
You must fulfill the following requirements in order to apply for a Business Innovation and Investment Provisional visa (Subclass 188).
- You must be nominated for the visa by an Australian State or Territory Government.
- You must be invited to apply for the visa.
- You and all your dependent family members, whether they are migrating or not, must be free of any disease or any medical condition that is:
- Considered a threat to Australian public or community health, or
- Likely to result in significant costs and expenses as a result of required health care and community service, or
- Likely to require health care and community services that will obstruct the access of Australian citizens to such services.
- You should meet the character requirements set out under S. 501 of the Migration Act, 1958. You will fail the character test if you:
- Have a substantial criminal record.
- Have been convicted of:
- Escaping from immigration detention
- Committing an offence whilst in immigration detention
- Committing an offence during or after an escape from immigration detention.
- Have had association with persons or groups suspected of past or current involvement in criminal conduct.
- Are found to not be of a good character due to past and present criminal or general conduct.
- Pose a significant risk to law and order in Australia or seem likely to harass, molest, intimidate, or stalk any person, community, or segment of an Australian population.
- You and your dependent family members, whether migrating or not, must provide a police certificate from each country in which you have resided for more than 12 months over the past ten years. This requirement only applies for countries in which you or your dependents resided whilst older than the age of 16.
- You must read or have substantial knowledge of the book, “Life in Australia” and confirm your respect for the Australian way of life and the law of the land by signing an Australian Values Statement. This is mandatory if you are above the age of 18.
- You must arrange to repay all outstanding debts owed to the Australian government.
- Use the online service, SkillSelect to submit an Expression of Interest (EOI) as well as all required information such as: personal information, work experience, study and education, skill assessments related to your occupation, and business and investment experience.
- The EOI must specify the stream you intend to apply under and whether you wish to do business or make investments in more than one Australian state or territory.
- If your EOI meets the eligibility criteria of the relevant state/territory authorities, you will receive an invitation to apply for the Business Innovation and Investment Provisional visa.
- Invitations are issued twice a month. You must apply online for the visa within 60 days of receiving the invitation. If you allow two invitations to lapse without applying for the visa, you will have to submit a new EOI.
- Submit all necessary documents related to:
- English Language Proficiency
- Net value of business, evidence of business ownership, evidence of participation in day-to-day management, proof of net assets, evidence of investment activity, proof of ownership of qualifying business or eligible investments, proof of source of funds, proof of assets to be used for making complying investments, documentation of business turnover and proof of investment experience and innovation. The requisite documentation will be subject to the desired stream of application.
- Submit your application online
- Make the designated or complying investment when invited to do so if you have applied under the Investor Stream or Significant Investor Stream.
Note: The processing time for the Business Innovation and Investment Provisional Visa is nine months for low risk and high-risk passport holders alike.
[button color=”red” size=”small” link=”https://investmentimmigration.com/free-business-investor-assessment-evaluation/” ]Free Investor Evaluation[/button]General Information: Contact us to receive more information about this article.
Interested Investors: Kindly complete the following form and we will contact you to discuss your global residency and citizenship investment options.