Subclass 188
Business Innovation and Investment (TR)
Relevant Visas
Important
Description
The Subclass 188 Visa is a temporary visa designed for individuals who wish to own, manage, or invest in a business in Australia. It is part of the Business Innovation and Investment Program and provides a pathway to permanent residency in Australia under the Subclass 888 Visa. This visa has multiple streams tailored to different types of business activities and investments.
Business
TR
Visa Class EB
Requirements
The next step in applying for your subclass 188 Business Innovation and Investment (TR) visa is fulfilling all of the eligibility requirements. There are quite a few and you are going to have to be diligent and organised when going through the application process. The entry requirements for the subclass 188 Business Innovation and Investment (TR) visa are:
- be under 55 years old, unless exempted (based on the nominated business or investment activity).
- demonstrate adequate English proficiency (Competent English or higher).
- have the necessary business skills and experience (depending on the stream).
- meet the investment or business turnover requirements (depending on the stream).
- have a genuine commitment to continuing business in Australia.
- be sponsored by a state or territory government (for certain streams).
- provide evidence of financial capacity to undertake the business or investment activity.
- meet the health and character requirements.
Streams
The Subclass 188 Visa has several streams, each with specific requirements:
Business Innovation Stream
- score at least 65 on the points test
- provide proof of your business success (annual turnover, ownership interest)
- You, your partner, or you and your partner together, have total net business and personal assets of at least:
- AUD1.25 million if you were invited to apply for this visa on or after 1 July 2021
- AUD800,000 if you were invited to apply for this visa before 1 July 2021
Business Innovation Extension stream
- hold, or in certain cases must have held a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream for at least three years or
- hold, or in certain cases must have held a Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream stream and not have held more than one Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation Extension stream visa and
- be nominated by a State or Territory government agency.
Investor stream
- be nominated by a State or Territory government agency to invest at least
- AUD2.5 million that meets certain requirements if you were invited to apply on or after 1 July 2021
- AUD1.5 million in an Australian State or Territory if you were invited to apply before 1 July 2021
- score at least 65 on the points test
- have net business, investment and personal assets of at least AUD2.5 million
Significant Investor stream
- be invited to apply for this visa
- be nominated by a State or Territory government agency or Austrade to invest at least AUD5 million that meets certain requirements and have a genuine intention to hold that investment for the life of your provisional visa
- have a genuine intention to live in the State or Territory whose government agency nominates you
Significant Investor Extension stream
- hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream and have held that visa for at least 3 years 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 and
- be nominated by a State or Territory government agency or Austrade
Entrepreneur stream
- be nominated by a State or Territory government agency
- undertake, or propose to undertake, a complying entrepreneur activity in Australia
- show us a business plan for your entrepreneurial activity
Process/Steps
Check Your Eligibility
Determine if you meet the basic requirements for visa subclass 188.
Ensure you have the necessary business or investment experience.
Verify if you meet the financial criteria.
Check state or territory nomination requirements.
English Test
Check if you need to provide proof of English language proficiency.
Take an approved English test such as IELTS, PTE, or TOEFL if required.
Ensure your score meets the required level for your specific stream.
Obtain the test results and keep them ready for submission.
Apply for Nomination
Some streams of visa subclass 188 require nomination from an Australian state or territory.
Submit an Expression of Interest (EOI) for nomination.
Provide details of your business or investment proposal.
Await approval from the nominating authority.
Submit Expression of Interest (EOI)
Lodge your Expression of Interest through SkillSelect.
Ensure all required details and supporting documents are included.
Wait for an invitation to apply for the visa.
Receive an Invitation to Apply
If your EOI is selected, you will receive an invitation to apply.
Confirm all required documents are prepared before submission.
Ensure all details provided in the EOI are accurate.
Gather Your Documents
Collect personal identification documents such as passports and birth certificates.
Prepare business or investment records, financial statements, and ownership details.
Include English test results if applicable.
Obtain character and police clearance certificates.
Health and Character Checks
Undergo a medical examination from an authorized panel physician.
Provide police clearance certificates from all countries of residence.
Ensure all dependents included in the application meet character requirements.
Await Visa Processing
Submit the visa application and pay the necessary fees.
Monitor application progress through the ImmiAccount portal.
Respond to any additional requests from the Department of Home Affairs.
Visa Grant
If your application is successful, you will receive a visa grant notification.
Review visa conditions and validity period.
Prepare for relocation and business setup in Australia.
