Overview

The Subclass 188 visa provides a temporary residence pathway for innovative business and investment owners wanting to establish ventures in Australia. With the option to transition to permanent residence through the Subclass 888 visa, it offers a route to remaining long-term.  

A Two-Stage Process 

There are two key steps:

1. Nomination – Applicants first seek nomination from an Australian State/Territory government using an Expression of Interest.

2. Visa Application – With nomination approved, applicants can then lodge their Subclass 188 visa application.

Key Features  

– Initial visa validity period of 5 years, with option to extend by another 2 years.

– Allows holder to establish and operate investment or entrepreneurial venture in Australia.

– Pathway to permanent residence through the Subclass 888 visa after up to 7 years.  

Eligibility Criteria

While specific to visa stream, factors considered include:

– Personal and business assets under ownership.

– Annual business turnover levels. 

– Innovative capabilities, investment experience and language proficiency.

– Age requirements (under 55 years). 

– Minimum points score under the Business Innovation and Investment Points Test.

Conclusion

With robust nomination procedures and visa requirements focusing both on business merit and economic benefit, the Business Innovation and Investment program aims to attract global entrepreneurial talent to contribute to Australia’s innovation landscape long-term.