The Australian government recently announced that holders of a Subclass 188 Business Innovation and Investment Visa are exempt from the travel restrictions and can enter Australia without obtaining an individual exemption. A Subclass 188 visa will allow you to travel in and out of Australia while you hold the visa, bring some family members to Australia with you and you may be eligible for permanent residency by applying for a subclass 888 visa.
What is the Subclass 188 Business Innovation and Investment Visa?
The Subclass 188 visa allows people with business skills to reside in Australia and to own and manage a business in Australia, conduct business and investment activity in Australia or undertake entrepreneurial activity in Australia. The visa has several different streams:
Business Innovation stream - for people who want to establish, develop and manage a business in Australia.
Investor stream - for people who want to make a designated investment of at least AUD$1.5 million in an Australian State or Territory and maintain business and investment activity in Australia.
Significant Investor stream - for people who want to invest at least AUD$5 million in complying investments in Australia and maintain business and investment activity in Australia.
Premium Investor stream - for people who want to invest at least AUD$15 million in complying investments in Australia and maintain business and investment activity in Australia.
Entrepreneur stream - for those who have a funding agreement with a third party to carry out entrepreneurial activities.
The visa allows applicants to include family members and visa holders may extend their visas or be eligible for permanent residency through the Subclass 888 stream.
How do I apply for a Subclass 188 Business Innovation and Investment Visa?
The Subclass 188 visa application has 3 steps:
Expression of Interest You must submit an expression of interest indicating which State or Territory you wish to seek nomination from and outlining how you meet the criteria for the stream you wish to apply for. The expression of interest may be submitted from within Australia or overseas.
State or Territory Nomination Once you have submitted your expression of interest, you may receive a nomination from the State or Territory. Each State and Territory has their own requirements for nominating a person for a subclass 188 visa. Please contact us if you want to know more about the different requirements.
Visa Application If you are invited to apply for the subclass 188 visa, you can apply from within Australia or overseas, with certain exceptions (contact us to learn more about the exceptions). Your visa application must satisfy the requirements for the subclass 188 visa and the requirements for your particular stream.
You can also find out more information here: https://www.yorkimmigration.com/business-innovation-and-investment-
If you are interested in applying for a Subclass 188 Business Innovation and Investment visa, or wish to learn more, please contact our friendly team at firstname.lastname@example.org or call us on 02 9283 5290 to schedule a consultation.