The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Program.
There are five 188 Visa Streams:
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 AUD1.5million 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 AUD5million 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 AUD15million 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 AUD200 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.
Other criteria required to be eligible:
- Nomination by a state or territory government;
- Invitation to apply through SkillSelect. Lists of Eligible Skilled Occupations
- Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit;
- Meet the pass mark in the Business Innovation and Investment Points test (currently 65);
- Have an overall successful career in business or investment.
Different States have different requirements.
Click on the State to check the requirements:
Learn more about The Process and Follow These Steps before you Apply.
188 Visa Business Plan
Our business plan shows the details of the current business activity and performance as well as evidence of market research and a genuine commitment to enter into business in Australia and all the information formerly presented in the following manner:
Details of business:
- A full description of the business activity;
- A full description of the products and services to be provided;
- Where will the business be located?
- Who will own the business?
- How many staff will the business employ?
Details of Market:
- Name customers, which products they will buy, at what volume, at what price, how many sales will be export sales;
- Name suppliers, what products/inputs they will supply, at what volume, at what price;
- Name your three closest competitors, what product they supply, at what price.
Details of Finance:
- Profit and loss statement;
- Balance Sheet;
- Cash flow Statement;
- Ratio analysis;
- Break-even point analysis;
- Identify working capital and how it will be financed and so on.