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

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FEATURES

The Business Innovation and Investment (Provisional) (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) (subclass 888) visa.

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:

  • An investment of AUD$500,000 in the proposed business if intending to establish a business in Brisbane or the Gold Coast.
  • An investment of AUD$300,000 in the proposed business if intending to establish a business in other regions of Queensland.
  • Be less than 55 years old.
  • Preference will be given to investment in businesses in the agribusiness, tourism infrastructure, resources, infrastructure and education and training sectors, particularly in regional Queensland.

188 Business investor stream (Provisional)

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

188 Significant investor stream (Provisional)

In addition to the DIBP criteria, applicants seeking Queensland state nomination are required to invest $2,500,000 in Queensland across the complying investment framework.

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.

Timeframe for nomination

Once Business and Skilled Migration Queensland has received your application and supporting documents:

  • Business Innovation stream – 2 weeks
  • Business Investor stream – 1 week
  • Significant Investor stream – 1 week

 

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.
  • Migration Review Tribunal: Business and Skilled Migration Queensland does not appeal to the Migration Review Tribunal (MRT) 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.