Business Innovation and Investment (Provisional) visa (subclass 188) 

This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia

Business Innovation Stream

This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.

With this visa, you can

• operate a new or existing business in Australia

• stay in Australia for up to 4 years and 3 months

• bring eligible members of your family with you

• apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation 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. 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.

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) Business Innovation stream if certain requirements are met. 

Eligibility

Be nominated

You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa.

Have business ownership

For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least AUD500,000 turnover in each of those 2 years.

Whether you have 1 or 2 businesses, you must own at least:

• 51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year

• 30%, of the total value of the business  if the business has a turnover of AUD400,000 or more per year, or

• 10%, of the total value of the business if the business is operated by a publicly listed company

If your business provides professional, technical or trade services, you must have spent less than half your time providing those services, rather than general management of the business.

Own personal and business assets of at least AUD800,000

When you are invited to apply for this visa, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800,000. Your funds must be available to transfer to Australia within 2 years of us granting the visa.

BOI - 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

Have a successful business career

You must have a successful business career and a genuine desire to continuously own and manage a business in Australia.

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.  If you are older, a State or Territory might invite you to apply for this visa if your business will be of exceptional economic benefit.

Not have a history of involvement in unacceptable activities

You and your partner must have had no 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 our health requirement.

Meet character requirement

You and family members aged 16 years and over who apply for the visa with you must meet our character requirement. 

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. 

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