The Subclass 188 visa allows people with business skills to come to Australia and utilise these skills. The visa is initially granted for a period of up to 4 years and 3 months.
Upon the visa holder meeting certain obligations, there is a direct pathway to permanent residency (Subclass 888) available.
There are a number of streams with different criteria:
Business Innovation Stream
This stream is ideal for people with business skills who want to operate a new or existing business in Australia. It requires nomination by an Australian State or Territory government agency. Some of the other criteria include:
Be under 55 years of age, or be able to show that your business will be of exceptional economic benefit
Have a successful business career and business ownership
Own personal and business assets of at least A$800,000
Score at least 65 points
A Business Innovation Extension stream also exists, which provides an option to extend your stay for up to 2 more years.
Investor Stream
This requires the visa applicant to invest at least A$1.5 million in an Australian State or Territory and maintain business or investment activity in Australia. It requires nomination by an Australian State or Territory government agency.
Be under 55 years of age, or be able to show that your business will be of exceptional economic benefit
Intend to live in a specific State or Territory for at least 2 years
Have relevant specific experience and skills
Have managed investments of A$1.5 million or a qualifying business
Have assets of A$2.25 million
Make an investment of A$1.5 million in your nominating Australian State or Territory
Score at least 65 points
A Business Innovation Extension stream also exists, which provides an option to extend your stay for up to 2 more years.
Significant Investor Stream
This is for people who wish to invest A$5 million in Australian investments that meet certain criteria. It requires nomination by an Australian State or Territory government agency. Some of the other criteria include:
Have lodged an expression of interest (EOI) and have received an invitation to apply
Make an investment of at least A$5 million when invited to, subject to specific criteria
There is no requirement that you score a minimum number of points nor any age limit.
A Significant Investor Extension stream also exists, which provides an option to extend your stay for up to 2 more years.
Premium Investor stream
This is for people who are nominated by the CEO of Austrade and who invest at least A$15 million in Australian investments and/or philanthropic contributions.
Some of the criteria include:
Be nominated by the CEO of Austrade
Have submitted an express of interest (EOI) and have been invited to apply for the visa
Make a complying premium investment of at least A$15 million
Have net assets of at least A$15 million
There is no requirement that you score a minimum number of points nor any age limit.
EntrepReneur stream
This is for people who have a funding agreement with a third party to carry out entrepreneurial activities in Australia. It requires nomination by an Australian State or Territory government agency. Some of the other criteria include:
Have submitted an express of interest (EOI) and have been invited to apply for the visa
Be under the age of 55
Have a complying entrepreneur activity
Receive funding with a total of at least A$200,000 from an approved entity
Have competent English.