Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream
This is a provisional visa that lets the holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream own and manages a business in Australia and extends their stay in Australia for up to 4 more years.
Obligations for the subclass 188 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 extended stay duration under this visa is for up to 4 years.
- Visa Cost: The cost of this visa starts from AUD 645.
- Things you must/ need to have: To avail of this visa you must-
- Hold a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream, or
- Hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream and not have held more than one of these visas
- Be nominated by a state or territory government or by Austrade on behalf of the Australian government
- Live in Australia for at least 40 days per year for the duration of your provisional visa, or
- Or your spouse must live in Australia for at least 180 days per year for the duration of your provisional visa
- Continue to hold a complying significant investment
- Activities in Australia you can undertake: With this category of visa you can-
- Extend your stay for up to 4 years
- Own and manage a business in Australia
- Carry out investment in Australia
- Include eligible family members such as parent visas in your visa application
- Apply for a Permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream, if eligible
FAQs of Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream
- Is it essential to maintain investment to apply for this visa?
Yes, to avail of this visa, you must continue to hold your complying significant investment in accordance with the complying investment framework in place at the time you applied for this visa.
2. How many Significant Investor Extension stream visa can I hold at the time of applying for this visa?
To avail of this visa, it is necessary that you must not have held more than one Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor Extension stream visa.
3. Do I need to sign the Australian values statement?
Yes, to avail of this visa, you and your family members, who have applied for this visa and 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 learn more and for further about investor visa consultation please visit a registered immigration agent.
