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

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FEATURES

The Business Innovation and Investment (Provisional) visa (subclass 188) is a state nominated provisional visa which is valid for four years.

It is a pathway to permanent residency, through the Business Innovation and Investment (Permanent) visa (subclass 888).

This visa has three streams:

  • Business innovation stream: for people who want to own and manage a new or existing business in Queensland
  • Investor stream: for people who want to make a designated investment in Queensland Treasury Corporation bonds and want to maintain business and investment activity in Queensland
  • Significant investor stream: for people who are willing to invest at least AUD$5million into complying investments.

CRITERIA

All migrants must be nominated by a state or territory government to be eligible for this visa.

To apply for this visa, you must meet Queensland’s nomination criteria as well as the Australian Department of Immigration and Border Protection (DIBP) eligibility criteria.

The criteria is different for each of the three visa streams – business innovation, investor and significant investor.

188 Business innovation stream (Provisional)

In addition to the DIBP criteria, applicants seeking Queensland state nomination must meet the following criteria:

  • demonstrate that you have net business and personal assets of at least A$800,000 to be transferred to Queensland within 2 years of your visa being granted, including a minimum of A$200,000 for investment into a business
  • reside in Queensland.

You are permitted to extend your provisional Business Innovation visa for an additional two years.

188 Business investor stream (Provisional)

In addition to the DIBP criteria, applicants seeking Queensland state nomination must meet the following criteria:

  • demonstrate that you have net business and personal assets of at least A$2.25 million to be transferred to Queensland within 2 years of your visa being granted
  • maintain your designated investment of at least $1.5 million in Queensland Treasury Corporation Bonds for at least four years.
  • reside in Queensland

At the end of your Investor visa, you must apply for permanent residency.

188 Significant investor stream (Provisional)

Applicants seeking Queensland state nomination must meet the Significant Investor stream DIBP criteria below:

  • demonstrate that you have at least A$5 million in assets readily available for transfer into complying investments in Australia
  • meet the complying investment frameworks set by Austrade and provide details of your complying investment intentions to BSMQ
  • demonstrate a commitment to Queensland with an intention to reside in Queensland and indicated additional investments.

TO APPLY

  1. Review the visa conditions and make sure you meet the eligibility criteria on the Australian Department of Immigration and Border Protection (DIBP) website.
  2. Make sure you meet Queensland’s nomination criteria.
  3. Lodge an Expression of Interest (EOI) through DIBP’s SkillSelect online service. Priority will be given to applicants who select ‘Queensland’ as their nominating State in SkillSelect.
  4. If you meet Queensland’s eligibility criteria, Business and Skilled Migration Queensland will contact you with instructions on how to provide additional information (including the business proposal for the Business Innovation Stream) to finalise your application.  A non-refundable application fee must be paid prior to finalising your application.
  5. If you are nominated by Business and Skilled Migration Queensland, you will receive an invitation from DIBP asking you to lodge an application within 60 days of nomination.

Queensland Criteria Processing Times

A decision on your Queensland nomination will be made within 10 business days of all documents being submitted to BSMQ.

MORE INFO

  • 188 Business Innovation and Investment Visa (provisional) – Significant Investor Visa (PDF, 398KB)
  • 188 Business Innovation and Investment Visa (provisional) (PDF, 195KB)
  • If you would like to contact Business and Skilled Migration Queensland, please contact us by phone or email.
  • Nomination is granted at the discretion of Business and Skilled Migration Queensland and once a decision has been made it is final.
  • Administrative Appeals Tribunal: Business and Skilled Migration Queensland does not appeal to the Administrative Appeals Tribunal (AAT) against decisions by DIBP to decline granting a visa to any skilled or business migration applicants nominated by Queensland.
  • Applications, processing and visa approvals are wholly administered by the Australian Government through DIBP. Please do not make travel arrangements or changes to your personal situation until DIBP has formally advised the outcome of your application.