This provisional visa of Business innovation and investment subclass 188 investor stream requires high net-worth individuals to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia. Also, you must be nominated by a state or territory government.
Obligations for the applicant in subclass 188
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 subclass of visa is 4 years and 3 months.
- Visa Cost– The cost of this visa starts from AUD 5,375.
- Things you must/ need to have: To avail of this visa you must-
- To invest at least AUD1.5 million in an Australian State or Territory
- Be nominated by a state or territory government
- Score a minimum of 65 points on the test
- Have a net business, investment, and personal assets of at least AUD2.25 million
- Comply with all visa conditions and Australian laws
- Activities in Australia you can undertake: With this category of visa you can-
- Stay in Australia for up to 4 years and 3 months
- Carry out business and investment activity in Australia
- Travel outside Australia and return as many times as you want while the visa is valid
- Include eligible family members in the visa application
- Apply for a Permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met
FAQs of Business Innovation and Investment (provisional) visa (subclass 188) Investor stream
- Is there any minimum age to apply for this visa?
Yes, to receive an invitation, your age must be under 55 years of age, unless the State or Territory government agency has determined your investment will be of exceptional economic benefit.
2. What are the minimum points on the points test is required to apply for this visa?
To apply for this visa, you must score at least 65 points on the points test. The factors on which you can get points are:
- English language proficiency
- Business experience
- Business turnover
- Special endorsement
- Net personal and business assets
3. Do I need to be nominated to avail of this visa?
Yes, it is required that you must be nominated by an Australian State or Territory government agency before being invited to apply for this visa.