Australian Business Innovation And Investment Visa Subclass 188

Overview

For as many as are interested in owning or managing a business in Queensland, whether a new startup or existing business, the city welcomes you all. The Business Innovation and Investment Visa Subclass 188 is a provisional visa, basically offered on a four-year period and state-nominated. The visa is crucial to the Business Innovation and Investment visa, that is the subclass 888 Permanent Residency Visa.

Interested persons can choose from:

  1. Business Innovation Visa (188):: This is for the category of people interested in owning and managing a business in Queensland, whether new or existing.
  2. Business Investor Visa (188): This visa is for the investors of business owner's category, who seek to invest in the Queensland Treasury Corporation Bonds.
  3. Significant Investor Visa (188): This is for people who want to make a significant investment in Australia.
  4. Premium Investor Visa (188): This is only available upon invitation by the national government of Australia. It is only suitable for potential recipients that have received the nomination from Austrade. The assurance of long-term economic benefit delivery to the country is a requirement here and majorly for highly talented and entrepreneur-minded individuals. For more information, please visit the Austrade website.
  5. Entrepreneur Visa (188): This visa is for individuals with innovative businesses and is ready to commercialize it.

For the Business Innovation and Investment visa (Subclass 188), the Queensland Government manages the state nomination through Business and Skilled Migration Queensland (BSMQ) and collaborating with the DHA of Australia that is the Australian Government's Department of Home Affairs.

ELIGIBILITY CONDITIONS

To apply for the Business Innovation and Investment (Provisional) visa (Subclass 188), the following eligibility requirements have to be met:

  1. Applicant must be nominated by an Australian State like Queensland or other territory government
  2. Applicant must have one or more business for a minimum of two out of the last four years. Also, he must have accumulated an annual income of AUD 500,000 during those years.
  3. Applicants must have one of these:
    • At least 51% of a business that has at least a turnover of AUD 400,000
    • At least 10% ownership of a publicly owned company
    • At least 30% of a business that has an annual turnover of not less than AUD 400,000.
  4. Applicant must have a total of AUD 800,000 in business and/or as personal assets. It has to be acquired legally and must be transferred to Australia within two years from the start of the visa date. It is fine to include your spouse's portion in the sum.

It is also expedient that you have spent about 50% of your time providing certain services as a person and at least 50% of your time managing the business, in case you have to meet some conditions of the business as nominated.

To qualify for the Business Innovation Stream Subclass 188 visa, you have to be 55 years or younger.

Meanwhile, the age requirement can be waived. This will be at the discretion of the territory or nominating state, once they have confirmed that the proposed business is beneficial to the state's economy.

POINTS TEST

Applicants for this stream of visa must score a minimum of 65 Points on the visa class points test. Get more information on that from the Subclass 188 points system page. In case you want to extend or renew your 188 visa for Business Innovation and Significant Investor, kindly send an email to BSMQ and state reasons why you want to extend. Certain conditions must be met before this extension is approved. Opulentus will give you the necessary assistance that you need to clear any confusion that you would have why you are on the application process. Approach us today and see why we are one of the Best Immigration Consultant across the Globe.

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