Investor Stream (Subclass 188B & 888B)

Subclass 188B: Business Innovation and Investment (Provisional) Visa

Investor Stream

Subclass 188 Business Innovation and Investment (Provisional) visa in the Investor stream is a provisional visa which leads to permanent residency after residency requirements and other requirements stipulated in Subclass 888 Business Innovation and Investment (Permanent) visa in the Investor stream are met.

Subclass 188 Business Innovation and Investment (Provisional) visa in the Investor stream is for applicants with an overall successful record of direct involvement in managing eligible investments or qualifying business and with a net business and personal assets of at least AUD 2.25 million for the last 2 fiscal years.

The applicants must also make a designated investment of at least AUD 1.50 million in the Australian State or Territory that the applicants received nomination from.

Stay Period

4 years and 3 months from the visa grant date.

Apply from...

All applicants may be in or outside Australia, but not in immigration clearance to apply for this visa and to be granted this visa.

Each applicant in Australia when applying for this visa must hold:
  • a substantive visa; or
  • a Subclass 010 Bridging A visa; or
  • a Subclass 020 Bridging B visa; or
  • a Subclass 030 Bridging C visa

with no condition(s) attached to the visa that prevent the applicant from applying this visa in Australia.
To make a valid application for Subclass 188B visa and/or be granted this visa, the following sets of criteria must be met:
Management Experience in Qualifying Business(es) or Eligible Investments
The main applicant must have a total of at least 3 years experience of direct involvement in managing one or more qualifying business(es) or eligible investments, and have demonstrated a high level of management skill in relation to the qualifying business(es) or eligible investments.

The following considered to be qualifying business:
  • operated for the purpose of making profit through the provision of goods, services or goods and services (other than the provision of rental property) to the public;
  • and
  • not operated primarily or substantially for the purpose of speculative or passive investment.
The following is an eligible investment if a person owns it for the purpose of producing a return in the form of income or capital gain, and not for personal use:
  1. an ownership interest in a business;
  2. cash on deposit;
  3. stocks or bonds;
  4. real estate;
  5. gold or silver bullion.
Ownership Interest in Qualifying Business(es) or Eligible Investments Management Involvement
In at least 1 of the 5 fiscal years immediately before being invited to apply for this visa, either the primary applicant, the primary applicant’s spouse or de facto partner, or both together:
  • had at least 10% ownership interest out of the total value of the business;
  • or
  • owned eligible investments of at least AUD 1.50 million.
Personal & Business Assets
In the last 2 fiscal years before being invited to apply for this visa, either the primary applicant, the primary applicant’s spouse or de facto partner, or both together, must have total business and personal assets with a net value of at least AUD 2.25 million, which are lawfully acquired and available for transfer to Australia within 2 years after the grant of a Subclass 188B visa.
AUD 1.50 million of Designated Investment in Australian State or Territory
Before this visa can be granted, the primary applicant must make a designated investment of at least AUD 1.50 million in the government bonds/investment funds with 4-year maturity issued by Australian State or Territory government agency where the applicants received nomination from. The funds invested cannot be transferred or redeemed before maturity except by operation of law or under exceptional circumstances.

The funds used to make the designated investment must be made from unencumbered funds accumulated from qualifying business(es) or eligible investments operated and managed by either the primary applicant, the primary applicant’s spouse or de facto partner, or both together.

Following are the relevant government bonds/investment funds issued by the relevant issuing authority in each State or Territory in Australia:
Security Issuing Authority
Government Bonds of Victoria Treasury Corporation of Victoria
NSW Treasury Bonds New South Wales Treasury Corporation
Waratah Bonds
Queensland Bonds Queensland Treasury Corporation
Queensland Industry Bonds Queensland Industry Development Corporation before 1 December 1996
TASCORP Inscribed Stock Tasmanian Public Finance Corporation
Territory Bonds Northern Territory Treasury Corporation
Western Australian State Bonds Western Australian Treasury Corporation
South Australian Government Financing Authority Bonds South Australian Government Financing Authority
State Nomination & Skillselect Invitation
The main applicant must be nominated by an Australian State or Territory Government Agency and subsequently being invited to apply for this visa by the Australian Department of Home Affairs.

Please be aware that each Australian State or Territory Government Agency has different sets of criteria to be met for nomination to be approved.
Points Test
The main applicant must score at least 65 points on the points test in order to receive invitation to apply for this visa.

Please note some states or territories have higher minimum points score requirement in order to be nominated.
Age Requirement
The main applicant must be under 55 years old at the time of receiving invitation for visa application.
Age limit may be exempted on a case-by-case basis in which the applicant is proposing to establish or participate in business or investment activity that the nominating State or Territory government agency has determined is of exceptional economic benefit to the State or Territory in which the agency is located.
Have Functional English
All applicants aged 18 years old and above (at the time of application) must either have at least functional English or will be asked to pay for the second instalment of the visa application charge prior to visa grant.
Genuine Commitment to Maintain Designated Investment After Maturity Date
The primary applicant genuinely has a realistic commitment to continue to maintain business or investment activity in Australia after the designated investment made by the primary applicant, or by the primary applicant and his/her spouse or de facto partner, matures in 4 years from the date the investment certificate is issued.
Genuine Commitment to Live in Nominating State or Territory
The applicant has a genuine intention to reside for at least 2 years in the State or Territory in which he/she received visa nomination and in which he/she made the designated investment.
Not Have a History of Involvement in Unacceptable Activities
The primary applicant, and the primary applicant’s spouse/de facto partner, must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
The following persons can apply for this Subclass 188B visa:
  • any person who met the eligibility criteria outlined in "Eligibility Criteria" tab on this page (hereinafter referred to as "the Primary Applicant");
  • the member of family unit of the Primary Applicant, e.g.: spouse/de facto partner and children who are still dependent on the Primary Applicant or the spouse/de facto partner of Primary Applicant
Each applicant in Australia when applying for this visa must hold:
  • a substantive visa; or
  • a Subclass 010 Bridging A visa; or
  • a Subclass 020 Bridging B visa; or
  • a Subclass 030 Bridging C visa

with no condition(s) attached to the visa that prevent the applicant from applying this visa in Australia.
The following condition(s) might be attached to this visa:

Condition 8515 - Must not marry or enter into a de facto relationship before entering Australia

If this visa is granted when the secondary applicant is outside Australia, the holder of this visa must not marry or enter into a de facto relationship before entering Australia.

This condition usually applies to secondary applicant(s) who are not married or in a de facto relationship and are still dependent on the primary visa applicant prior to visa grant. For example, child of primary visa applicant who is also a secondary applicant for this visa must not married or enter into a de facto relationship prior to entering Australia for the first time.

Breaching this visa condition will render the said visa with the condition 8515 subject to cancellation.

Subclass 888B: Business Innovation and Investment (Permanent) Visa

Investor Stream

Subclass 888 Business Innovation and Investment (Permanent) visa in the Investor stream is a permanent visa which allows primary applicants holding Subclass 188 Business Innovation and Investment (Provisional) visa in the Investor stream to continue their investment activities started under Subclass 188 visa in the Investor stream and to live in Australia permanently.

Stay Period

Indefinitely with 5-year travel facility after which you may need to apply for Subclass 155 or 157 Resident Return visa to extend your travel facility.

Apply from...

All applicants may be in or outside Australia, but not in immigration clearance to apply for this visa and to be granted this visa.

Applicants applying in Australia mustn't hold visa with condition(s) that prevent them to apply for this visa onshore in Australia.
To make a valid application for Subclass 888B visa and/or be granted this visa, the following sets of criteria must be met:
Residence Requirement
The primary applicant has been in Australia, for a total period of at least 2 years in the 4 years immediately before the application is made, as the holder of any of the following visas:
  • Subclass 188 Business Innovation and Investment (Provisional) visa in the Investor stream (Subclass 188B) as a primary visa holder; or
  • Former spouse or de facto partner of primary visa holder of Subclass 188B visa who is a secondary visa holder of the Subclass 188B visa.
Designated Investment has been held continuously for at least 4 Years
Designated investment of AUD 1.50 million made while applying for Subclass 188B must has been held continuously for:
  • at least 3 years and 11 months if the Subclass 188B granted on the basis of application made before 1 July 2015; or
  • at least 4 years if the Subclass 188B granted on the basis of application made on or after 1 July 2015
State Nomination & Skillselect Invitation
The main applicant must be nominated by an Australian State or Territory Government Agency and subsequently being invited to apply for this visa by the Australian Department of Home Affairs.

Please be aware that each Australian State or Territory Government Agency has different sets of criteria to be met for nomination to be approved.
Have Functional English
Secondary applicants aged 18 years old and above (at the time of application) and has not previously paid a second instalment of the visa application charge in relation to an application for a Subclass 188 Business Innovation and Investment (Provisional) visa, must either have at least functional English or will be asked to pay for the second instalment of the visa application charge prior to visa grant.
Genuine Commitment to Continue Investment Activities in Australia
The applicant genuinely has a realistic commitment to continuing his/her business or investment activities in Australia.
Not Have a History of Involvement in Unacceptable Activities
The primary applicant, and the primary applicant’s spouse/de facto partner, must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
The following persons can apply for this Subclass 888B visa:
  • The following visa holder who met the eligibility criteria outlined in "Eligibility Criteria" tab on this page:
    • Primary visa holder of a Subclass 188 Business Innovation and Investment (Provisional) visa in the Investor stream (Subclass 188B); or
    • Former spouse or de facto partner of primary visa holder of Subclass 188B visa who is a secondary visa holder of the Subclass 188B visa.
  • the member of family unit of the Primary Applicant, e.g.: spouse/de facto partner and children who are still dependent on the Primary Applicant or the current spouse/de facto partner of Primary Applicant.
The following condition(s) might be attached to this visa:

Condition 8515 - Must not marry or enter into a de facto relationship before entering Australia.

If this visa is granted when the secondary applicant is outside Australia, the holder of this visa must not marry or enter into a de facto relationship before entering Australia.

This condition usually applies to secondary applicant(s) who are not married or in a de facto relationship and are still dependent on the primary visa applicant prior to visa grant. For example, child of primary visa applicant who is also a secondary applicant for this visa must not married or enter into a de facto relationship prior to entering Australia for the first time.

Breaching this visa condition will render the said visa with the condition 8515 subject to cancellation.

If you are ready to commence your life in Australia, contact Ausdirect Migration today at 1800 462 188.

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