The Business Innovation and Investment Visa (Subclass 188) is a temporary visa designed for business owners, investors, and entrepreneurs who wish to establish, develop, or manage a business or investment in Australia. This visa provides a pathway to permanent residency through the Business Innovation and Investment (Permanent) Visa (Subclass 888) after meeting specific requirements. The Subclass 188 visa allows successful applicants to own and manage
businesses or investments in Australia while enjoying work and study rights.

Applicants for the Subclass 188 visa can choose from several streams depending on their background and business goals. These include the Business Innovation Stream for business owners, the Investor Stream for those investing significant amounts of capital, the Significant Investor Stream for high-net-worth individuals, and the Entrepreneur Stream for individuals with innovative ideas. Each stream has distinct eligibility criteria.

After receiving a nomination from a state or territory, applicants are invited to apply for the visa, providing necessary documentation such as proof of business experience, financial records, and evidence of meeting the stream’s specific criteria. Applicants must also undergo health and character checks. Once granted the Subclass 188 visa, the applicant can begin their business or investment activities in Australia. If the applicant meets the required business or investment
milestones, they may transition to permanent residency through the Subclass 888 visa.

In addition, applicants should be aware of considerations such as the viability of their business or investment plan, state and territory requirements, and the need to demonstrate genuine commitment to living and working in Australia. The Department of Home Affairs will assess the economic outcomes of the business or investment, including business turnover or investment returns, during the temporary visa period. The cost of the visa starts from AUD 9,710.