Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream
This provisional visa is meant for those with business skills and holds the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream. It lets them extend their stay in Australia for 2 more years, or up to 4 more years if COVID-19 concessions apply.
Obligations for the visa applicant
To avail of this category of visa, there are certain requirements that you will need to fulfil. The lists are given below.
- Stay Duration– The stay duration under this subcategory of visa is 6 years after the date of the grant of the Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream that you held at the time of application; or
8 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream, if the visa that you held at the time of application was a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream and COVID-19 concessions apply.
- Visa Cost– The cost of Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream starts from AUD 645.
- Things you must/ need to have: To avail of this visa you must-
- Hold the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream
- Hold (in certain cases) a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream
- Have held the Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream for at least 3 years
- Be nominated by a State or Territory government agency
- Not have held more than one Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream visa
- Activities in Australia you can undertake: With this category of visa you can-
- Stay in Australia for up to 6 years after the date of the grant of the Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream
- Stay up to 8 years if COVID-19 concessions apply
- Operate an existing or new business in Australia
- Travel to and from Australia as many times as you want while the visa is valid
- Include eligible family members in your visa application
- Apply for a Permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met
FAQs of Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream
- Is it essential to hold any previous visa to apply for this subclass of visa?
Yes, to avail this visa, you must hold a Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream and have held it for at least three years, unless COVID-19 concessions apply.
2. Do I need to be nominated to avail of this visa?
Yes, you must hold a current nomination from a State or Territory agency before being invited to apply for this visa.
3. What document do I need to sign to avail of this visa?
In order to get your visa granted, you and your family members who have applied for this visa are 18 years of age or older, must sign an Australian Values Statement to confirm that you will respect the Australian way of life and obey Australian laws.
To know more on this business visas, please consult a registered migration lawyer.
