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This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia.
You must
– Make an investment of AUD1.5 million in an Australian State or Territory
– Score at least 65 on the points test
– Have net business, investment and personal assets of at least AUD2.25 million
With this visa
You can
– Carry out business and investment activity in Australia
– Stay in Australia for up to 4 years and 3 months
– Bring eligible members of your family unit with you
– Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met
How long you can stay
This is a provisional visa. You can stay in Australia for up to 4 years and 3 months. If you applied before 1 July 2015, you can stay up to 4 years.
The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid.
The visa is valid from the date the Home Affairs grant it.
Stay longer
This is a provisional visa. You must apply for a new visa if you want to stay longer.
Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met. Explore your visa options
If you applied for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Investor stream prior to 1 July 2015, you will be eligible to apply for a Business Innovation and Investment (Permanent) visa (subclass 888) in the Investor stream after 3 years and 11 months.
Include family
You can include members of the family unit in your application when you apply. You can also add your dependent child to your application at any time before the Home Affairs decide on your application.
Family members who apply for the visa must meet health and character requirements.
In order for the main applicant to be granted the visa, family members who are not coming to Australia must meet character requirements, and might have to meet health requirements.
Cost
This visa costs AUD5,375 for the main applicant.
There is also a charge for each family member who applies for the visa with you.
– Family members over 18 years old: AUD2,685
– Family members under 18 years old: AUD1,345
You must pay an extra charge for any applicant 18 years old or older who has less than functional English. This charge is the second instalment. Pay it only when the Home Affairs ask you to. The Home Affairs will refund the charge if the Home Affairs do not grant you the visa.
The second instalment charges are:
– Main applicant: AUD9,795
– Family members: AUD4,890
To work out what your visa will cost use the Visa Pricing Estimator. The estimator does not take into account the second instalment or other costs. You might also have to pay other costs for health checks, police certificates and biometrics.
Apply from
You can be in or outside Australia when you apply for the visa and when the Home Affairs decide on your application, but not in immigration clearance.
Processing time
There are no standard processing times for this stream.
Your application might take longer to process if:
– You do not fill it in correctly
– You do not include all the documents we need or we need more information from you
– It takes time to verify your information
Your obligations
You and your family members who are part of your application must comply with all visa conditions and Australian laws.
In particular, you must commit to continue to maintain your investment and comply with Australian workplace laws.
To be eligible for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Investor stream, you must live in the State or Territory in which you made the designated investment for at least 2 years during the period your provisional visa is valid.
Maintain your investment
You must genuinely have a realistic commitment to continue to maintain business or investment activity in Australia after the designated investment matures.
To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream, you must maintain your investment in an Australian state or territory for at least 4 years.
Income that you earn from your investment in Australia is subject to Australian taxation law.
Adequate health insurance
The Home Affairs recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia. Insurance can help limit your financial liability.
Reciprocal healthcare agreements
Some countries have a reciprocal healthcare agreement with Australia. Find out more from the Department of Human Services about reciprocal healthcare agreements.
Travel
You can travel outside Australia and return as many times as you want while the visa is valid.
The time you spend outside Australia does not extend the visa.
Visa label
Australian visas are digital.
The Home Affairs do not put a visa label in your passport. Instead, the Home Affairs link your digital visa record to your passport.
Be nominated
You must be nominated by an Australian State or Territory government agency before being invited to apply for this visa.
The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or the Home Affairs will be unable to grant you a visa.
Own and manage business and personal assets and investments
You must:
Have managed a qualifying business or investments to the value of at least AUD1.5million.
For at least 1 of the 5 fiscal years immediately before the Home Affairs invite you to apply, have directly managed one of the following:
– A qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or
– A eligible investment of at least AUD1.5 million owned by you, your partner or you and your partner combined.
Have assets of AUD2.25 million
For the 2 fiscal years immediately before the Home Affairs invite you to apply, you, your partner, or you and your partner together, have business and personal assets with a net value of at least AUD2.25 million. These assets must have been lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted.
Make an investment of AUD1.5 million in your nominating State or Territory
After you lodge your application, you must make a designated investment of at least AUD1.5 million in the State or Territory in which the nominating State or Territory government agency is located. This investment must be in your name or in your name and your partner’s name. The investment must be made from unencumbered funds generated from qualifying businesses or eligible investments. To be eligible for the Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream, you must hold the designated investment for at least 4 years from the date the investment certificate is issued by your nominating State or Territory.
Have the right experience
You must:
– Have at least 3 years’ experience managing one or more qualifying businesses or eligible investments
– Have a successful record of eligible investment or qualifying business activity
– Have demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity
Score at least 65 on the points test
You must score at least 65 points on the points test.
You can get points for many reasons, including your:
– Age
– English language ability
– Qualifications
– Business experience
– Net personal and business assets
– Business turnover
– Innovation
– Special endorsement
Intend to live in a specific State or Territory
You must have a genuine intention to live for at least 2 years in the State or Territory in which you have made the investment application.
Be under 55
You will not receive an invitation if you are aged 55 or older at the time of the invitation to apply for the visa, unless the State or Territory government agency has determined your investment will be of exceptional economic benefit.
Not have a history involvement in unacceptable activities
You and your 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.
Have functional English
All applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second instalment of the visa application charge.
Meet health requirement
You and any family members who apply for the visa with you must meet health requirement.
Family members who are not coming to Australia may also have to meet health requirement.
Meet character requirement
You and family members aged 16 years and over who apply for the visa with you must meet character requirement.
The Home Affairs may also ask that other family members meet the requirement.
Sign the Australian values statement
If you and your family members who have applied for the visa are 18 years of age or older at the time of application, you and your family members must:
– Have read, or had explained to you, the Life in Australia book
– Sign an Australian Values Statement that confirms you will respect the Australian way of life and obey Australian laws
Have no debt to the Australian government
If you or any family members owe the Australian Government money, you or they must show that it has been paid back or there is an approved arrangement in place to pay it back.
Not have had a visa cancelled or a previous application refused
You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.
