The 188 & 888 Visa classes are Business visas for business people who want to migrate to Australia and run their business in Australia. These visa allow for permanent residence in Australia through a business visa if you fulfill the requirements of the provisional business visa. There are a variety of Australian business visas that businesspeople can obtain.
Business Visa in a nutshell:
What is a business visa?
A business visa is a visa for international investors and business owners who wish to establish business operations in Australia. There are different types of business visas that people with business skills can apply to:
- Business Innovation and Investment (Provisional) Subclass 188 visa: This is a temporary business visa that allows you to stay in Australia for 4 years with the possibility of extending it for up to 4 more years. There are 5 different streams:
- Business and Innovation Stream: this is a provisional business visa for those who want to start a new business or buy into an existing business in Australia
- Investor Stream: this is a provisional business visa for those who want to make a designated investment in Australia of at least AUD 1.5 million
- Significant Investor Stream: this is a provisional business visa for those who want to make an investment in Australia of at least AUD 5 million
- Premium Investor Stream: this is a provisional business visa for those who want to make an investment in Australia of at least AUD 15 million
- Entrepreneur Stream: this is a provisional business visa for those who are entrepreneurs and have a funding agreement from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity in Australia
- Business Innovation and Investment (Permanent) Subclass 888 visa: This business visa is the second stage of the Business Innovation and Investment visa. This business visa allows you to stay in Australia permanently
Criteria – the requirements for a business visa
Business visas are assessed against a points test. Applicants for a business visa will need to meet the pass mark of points. This will depend on your age, English language ability, qualifications, experience in business or investment, net personal assets, business turnover, innovation and special endorsement. In addition, most Investors and business visas require a state nomination before applying.
BE ADVISED The points test does not apply if you are applying for the Significant Investor stream, the Premium Investor Stream, the Business Innovation Extension or the Significant Investor Extension.