The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Program.
These are the programs offered by Australia for business investors and entrepreneurs.
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
- Investor stream: for people who want to make a designated investment of at least AUD 1.5 million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
- Significant Investor stream: for people who are willing to invest at least AUD 5 million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
- Premium Investor stream: for people who are willing to invest at least AUD 15 million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Austrade will make the initial contact with suitable candidates for nomination on behalf of the Australian government.
- Entrepreneur stream: for people who have a funding agreement from a third party for at least AUD 200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government.
The visa is valid for four years and three months from the date it is granted.
Processing times
The processing time for business innovation is minimum 17 months and for investor option is minimum 20 months, according to Australian Government.
| Stream | 75 per cent of applications processed | 90 per cent of applications processed |
|---|---|---|
| Business Innovation | 17 months | 18 months |
| Significant Investor | Unavailable due to low volume of applications. | Unavailable due to low volume of applications. |
| Investor | 20 months | 22 months |
| Premium Investor | Unavailable due to low volume of applications. | Unavailable due to low volume of applications. |
| Entrepreneur | Unavailable due to low volume of applications. | Unavailable due to low volume of applications. |
Last updated 19 September 2018 (for month ending 31 August 2018)
