This VISA is only available to applicants who are nominated by an Australian State or Territory government. To be nominated, the applicant must lodge an Expression of Interest (EOI) through the SkillSelect system.
This is a 4-year temporary visa, for people who want to make a designated investment in an Australian state or territory. After maintained an investment in Australian for 4 years, the applicant can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.The applicants can either be in Australia or overseas to lodge this visa.
If the applicant is in Australia:
ü Must hold a Substantive Visa or a Bridging A, B or C visa.
· The applicant has had business and personal net assests of at least AUD 2.25 million for the last 2 fiscal years
· Under 55 years of age, unless the nominating state or territory certifies that the applicant will make an exceptional economic benefit; and
· The applicant must make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa
· Have 3 years of experience either managing a qualifying business or “eligible investments”, and have showed a high level of management skill
· For at least 1 of the 5 fiscal years, you have either:
ü Managed a business in which you hold a 10% shareholding; or
ü Manage “eligible investments” of at least AUD 1.5 million
ü Eligible investments include:
§ Ownership interests in a business
§ Cash on deposit
§ Stocks or bonds
§ Real estate
§ Gold or bullion
§ Loan to a business
Subclass 888 VISA Requirements:
· The applicant has been in Australia on subclass 188A VISA for at least 2 years, within the 4 years prior to lodgement
· Maintained the investment in Australia State or Territory bonds for the last 4 years
188B Points Test
188B visa points test
You must score at least 65 points (the pass mark) in the points test to be eligible to apply for the Investor stream.
The test gives points for various elements of human capital and business innovation and includes objective measures of business performance.
Points are awarded for:
English language ability
experience in business or investment
net personal and business assets
Points are awarded on the basis of the factors listed in the following table. All factors are assessed as at the time you are invited to apply for this visa, unless otherwise noted.
55 and older
English language ability
Australian trade certificate, diploma or bachelor degree by an Australian education institute; or
a bachelor qualification recognised by an education institution of a recognised standard
Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognised standard
The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located
Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
Business Innovation stream only
You have held one or more businesses before you were invited to apply for the visa for:
Not less than four years within the preceding five years
Not less than seven years within the preceding eight years
Investor stream only
Eligible investment of at least AUD100 000 held for:
At least four years before the time of invitation to apply for the visa
At least seven years before the time of invitation to apply for the visa
Business innovation qualifications
At the time of invitation to apply for the visa:
Evidence of registered patents or registered designs
Evidence of registered trademarks
Evidence of formal joint venture agreements
Evidence of export trade
Evidence of ownership interest in a gazelle business
Evidence of receipt of grants or venture capital funding
State or territory nomination
Special endorsement (limited places)
Business Innovation and Investment (Provisional) visa (subclass 188) Investor stream
This visa is for people who want to make a designated investment of at least AUD1.5 million in an Australian state or territory and maintain business and investment activity in Australia. In order to lodge a valid visa application to the Department of Immigration and Border Protection (DIBP) you must receive state nomination support.
To find out if you are eligible, read the Department of Immigration and Border Protection’s (DIBP) visa criteria for the Business Innovation and Investment (Provisional) visa (subclass 188)To be eligible for visa nomination by the state of Victoria, you will need to:
meet the DIBP eligibility requirements for this visa;
make a designated investment with the Victorian Treasury Corporation; and
engage in business or additional investment activity.
You should also read the state nomination conditions and assessment criteria on this page.
Once you are confident you can meet the relevant requirements, you can apply for Victorian visa nomination.
Victorian visa nomination processing
Processing times can vary. Applicants can expect an outcome within four weeks from the time your complete application is lodged for visa nomination.
Victorian state nomination conditions
Nomination support by the Victorian Government is conditional and subject to formal acceptance and acknowledgement by the applicant of the following:
The applicant has read (or has had read to them) the contents of their application and confirms that the information contained therein is true and correct.
The applicant confirms that they meet all of the Department of Immigration and Border Protection (DIBP) visa eligibility criteria.
The Victorian Government may share information relating to the application and the applicant’s business/investment activities in Victoria with the Department of Immigration and Border Protection (DIBP).
The Victorian Government reserves the right to make direct contact with the applicant in relation to this application or related matters. This may include contact from the Commissioner of a Victorian Government Business Office (VGBO) to discuss potential assistance in relation to business/investment activity in Victoria.
The Victorian Government has no legal authority to deal with visa matters and will not advocate to the Department of Immigration and Border Protection (DIBP) or the Migration Review Tribunal on behalf of the applicant.
The applicant will notify the Victorian Government of any changes in their contact details and agrees to participate in any surveys that the Victorian Government may initiate.
The Victorian Government does not endorse any investment made, or any business activity undertaken, by the applicant nor does it accept liability for any financial loss, cost or expense incurred as a result of any business decision, business activities or investments made by any person in any way connected with this application, or otherwise.
Victorian Government nomination is not transferable to any other Australian State or Territory.
The applicant has a genuine commitment to establish a residence in the State of Victoria.
The applicant will make contact with the Victorian Government within one month of arrival in Victoria.
The applicant will reside in Victoria as per their visa and nomination conditions.
The applicant will make a designated investment of at least A$1.5 million with the Treasury Corporation of Victoria.
In addition to the designated investment of A$1.5 million, the applicant will engage in ongoing business/investment activity in Victoria within 36 months of arrival.
Without express written consent from the Victorian Government, failure to comply with the above conditions may result in the withdrawal of Victorian Government support for the applicant’s visa.
When you apply for Victorian visa nomination, your application is assessed against a number of criteria. We apply the criteria below across all applications.
Applicants must be under 55 years of age.
Living in Victoria
The applicant must have a genuine commitment to establish a residence and reside in the state of Victoria as per the visa and nomination conditions.
Investment in Victoria
The applicant must agree to make a designated investment of at least A$1.5 million with the Victorian Treasury Corporation.
Restrictions on purchasing Victorian Designated Investment Bonds
US nationals and residents
If you are a US citizen or resident, you may be restricted from purchasing Victorian Designated Investment Bonds due to securities restrictions in the US.
Sanctions against countries
The Australian Government imposes sanctions against some countries to restrict commercial activities. If you are a national of, residing in or sending funds from a country that the Australian Government has imposed sanctions against, you may not be able to purchase Victorian Designated Investment Bonds.
If you decide to swap roles with your spouse/de facto partner at permanent visa stage (subclass 888 visa) so that they become the primary visa applicant, this may not be possible if the bonds were not held jointly by you and your spouse/de facto partner. Please take this into consideration when purchasing your Victorian Designated Investment Bonds and seek independent advice on any implications.
Visa 188 – Business Innovation and Investment (Provisional)
This visa is intended for people with a successful background in managing businesses or financial investments. Western Australian State Nomination criteria includes:
You have a score of at least 65 on the Business Innovation and Investment Points Test;
You have had a total of at least three years experience of direct involvement in managing one or more qualifying businesses or eligible investments;
For one of the last five fiscal years, you:
directly managed a business in which you (or your partner or you and your partner together) held an ownership interest of at least 10 per cent; OR
you directly managed your (or your partner’s or you and your partner’s combined) investments worth at least A$1,500,000;
For each of the last two fiscal years, your total business and personal assets had a net value of at least A$2,250,000;
You are able to make a Designated Investment of A$1,500,000 with the Western Australian Treasury Corporation for a four year term;
You are able to transfer additional funds of A$50,000 for your settlement and ongoing living costs in Western Australia;
You will maintain your funds in Western Australia on maturity of your treasury bonds; and
You are less than 55 years of age, or you are proposing to participate in a business or investment activity which will be of exceptional economic benefit to the State
All 188 Business Innovation and Investment – Investor Stream visa holders will become eligible for permanent residence under the 888 Business Innovation and Investment visa – Investment Stream once they have held the required Treasury Bonds in Western Australia for at least four years and met the relevant criteria. 188 Business Innovation and Investment – Investor Stream visa holders are unable to apply for the 888 Business Innovation and Investment – Business Innovation Stream.
A government bond investment held jointly will allow either the primary or secondary applicant to meet the criteria for the Subclass 888. The primary applicant can meet the criteria for the grant of the Subclass 188 with assets in their name, and jointly held investments could then be the subject of a Subclass 888 application by either the primary or the secondary applicant.
At the time of application for the 888 Business Innovation and Investment Permanent Visa it is expected that applicants would have purchased a residence in Western Australia.
The Business Innovation and Investment (Provisional) visa (subclass 188) is a state nominated provisional visa which is valid for four years.
It is a pathway to permanent residency, through the Business Innovation and Investment (Permanent) visa (subclass 888).
This visa has three streams:
Business innovation stream: for people who want to own and manage a new or existing business in Queensland
Investor stream: for people who want to make a designated investment in Queensland Treasury Corporation bonds and want to maintain business and investment activity in Queensland
Significant investor stream: for people who are willing to invest at least AUD$5million into complying investments.
All migrants must be nominated by a state or territory government to be eligible for this visa.
To apply for this visa, you must meet Queensland’s nomination criteria as well as the Australian Department of Immigration and Border Protection (DIBP) eligibility criteria.
The criteria is different for each of the three visa streams – business innovation, investor and significant investor.
188 BUSINESS INNOVATION STREAM (PROVISIONAL)
In addition to the DIBP criteria, applicants seeking Queensland state nomination must meet the following criteria:
demonstrate that you have net business and personal assets of at least A$800,000 to be transferred to Queensland within 2 years of your visa being granted, including a minimum of A$200,000 for investment into a business
reside in Queensland.
You are permitted to extend your provisional Business Innovation visa for an additional two years.
188 BUSINESS INVESTOR STREAM (PROVISIONAL)
In addition to the DIBP criteria, applicants seeking Queensland state nomination must meet the following criteria:
demonstrate that you have net business and personal assets of at least A$2.25 million to be transferred to Queensland within 2 years of your visa being granted
maintain your designated investment of at least $1.5 million in Queensland Treasury Corporation Bonds for at least four years.
reside in Queensland
At the end of your Investor visa, you must apply for permanent residency.
188 SIGNIFICANT INVESTOR STREAM (PROVISIONAL)
Applicants seeking Queensland state nomination must meet the Significant Investor stream DIBP criteria below:
demonstrate that you have at least A$5 million in assets readily available for transfer into complying investments in Australia
meet the complying investment frameworks set by Austrade and provide details of your complying investment intentions to BSMQ
demonstrate a commitment to Queensland with an intention to reside in Queensland and indicated additional investments.
Review the visa conditions and make sure you meet the eligibility criteria on the Australian Department of Immigration and Border Protection (DIBP) website.
Make sure you meet Queensland’s nomination criteria.
Lodge an Expression of Interest (EOI) through DIBP’s SkillSelect online service. Priority will be given to applicants who select ‘Queensland’ as their nominating State in SkillSelect.
If you meet Queensland’s eligibility criteria, Business and Skilled Migration Queensland will contact you with instructions on how to provide additional information (including the business proposal for the Business Innovation Stream) to finalise your application. A non-refundable application fee must be paid prior to finalising your application.
If you are nominated by Business and Skilled Migration Queensland, you will receive an invitation from DIBP asking you to lodge an application within 60 days of nomination.
QUEENSLAND CRITERIA PROCESSING TIMES
A decision on your Queensland nomination will be made within 10 business days of all documents being submitted to BSMQ.
To meet the South Australian nomination requirements you must:
Meet DIBP 188 investment stream criteria
Intend to live in South Australia
Intend to invest AUD$1,500,000* into South Australian Government Financing Authority (SAFA) bonds for four years
Agree to register your arrival in South Australia with Immigration SA and maintain current contact details for the duration of your visa.
*Applicants over 55 years must invest AUD$5,000,000 into SAFA for four years.
Investor stream: for investors and business owners having AUD$2.25 million transferable assets and prepared to invest AUD$1.5 million in Tasmanian Treasury bonds and maintain the investment for four years. They need to maintain business and investment activity in Tasmania after the original investment has matured. Nominations by Tasmanian Government.
for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity
Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.