Dreaming of Building Your Business in Australia? Here’s How the Business Visa Pathway Can Help
If you aspire to build your business in Australia for the long term, the Business Visa Australia pathway provides an opportunity to legally engage in business activities within the country, with the potential to secure permanent residency.
While there are several business visa options, the primary visa that allows you to legally establish your own business or make investments in Australia is the Subclass 188 Business Innovation and Investment Visa.
In this blog, we’ll focus on the 188 visa, covering its requirements and the steps to apply.
Australia Business Visa Pathways
To legally set up a business, make investments, or engage in short-term business activities in Australia, you must hold a business visa. Below are the available business visa pathways.
Business Innovation and Investment Visa (Subclass 188)
2024 Updates: The Business Visa will close to new applications in July 2024. However, holders of the provisional 188 visa who qualify for the permanent 888 visa can continue on this pathway beyond July 2024.
This visa pathway is designed for those who want to establish a new business in Australia or manage and develop existing ones. It may also be granted to individuals looking to invest in Australian businesses.
Beyond the entrepreneurial freedom and investment opportunities, this pathway offers applicants the chance to achieve permanent residency. Here’s how it generally works:
Apply for the provisional Subclass 188 Business Innovation and Investment visa in one of these streams:
- Business Innovation stream (188a): Suited for those looking to operate new or existing businesses. This visa allows a stay of up to 5 years.
- Investor stream (188b): For those willing to invest at least AUD 2.5 million into complying investments in Australia, while maintaining business activity. Visa holders can stay up to 5 years.
- Significant Investor stream (188c): For those who are prepared to invest at least AUD 5 million in Australia. Visa holders can stay up to 5 years.
- Entrepreneur stream (188e): For those endorsed by their nominating state/territory government agency to develop and carry out entrepreneurial activities. This visa is valid for up to 5 years.
After holding your temporary visa for at least 3 years and meeting all specific requirements, you can apply for the permanent Subclass 888 Business Innovation and Investment visa.
Other Business Visa Options
- State or Territory Sponsored Investor Visa (Subclass 893): A pathway to permanent residency for holders of the provisional State/Territory Sponsored Investor visa (Subclass 165). The Subclass 165 visa is currently closed to new applications. To be eligible, applicants must have resided in the state/territory of their sponsoring authority for at least 2 years and maintained a designated investment of at least AUD 750,000 for at least 4 years.
- Business Visitor Visa (Subclass 600): The business stream of the Subclass 600 visa is intended for those who need to engage in general business or short-term employment activities in Australia, such as attending conferences, reviewing contracts, or participating in official government business events. This visa is valid for up to 3 months.
Business Visa Requirements for Australia
The general requirements for Business Innovation and Investment Visa (Subclass 188) applications include:
- Submission of an Expression of Interest (EOI) via SkillSelect.
- Acceptance of your EOI by an Australian State/Territory and an invitation to apply for the visa.
- The nominating State/Territory must maintain their nomination throughout your application process.
- Proof of means to own and manage a business, make significant investments, or engage in entrepreneurial activities (depending on the 188 visa stream).
- A minimum score of 65 on the points test (only for 188a and 188b visa applications).
- Required level of English proficiency:
- Functional English for 188a, 188b, and 188c visas.
- Competent English for 188e visa.
- Applicants must be under 55 years of age (not applicable for 188c visa).
- No involvement in business or investment activities considered unacceptable in Australia.
- Compliance with Australia’s health and character requirements.
Be sure to check the specific requirements for each 188 visa stream.
Australia Business Visa Minimum Investment
Some streams under the Business Innovation and Investment Visa require a minimum investment. The table below outlines these requirements:
| Visa Stream | Minimum Investment |
|---|---|
| 188b visa – Investor stream | AUD 2.5 million |
| 188c visa – Significant Investor stream | AUD 5 million |
| 188d visa – Premium Investor stream* | AUD 15 million |
| *The 188d visa is closed to new applications. |
How to Apply for a Business Visa in Australia
- Determine which visa stream suits your situation.
- Submit an Expression of Interest (EOI) via SkillSelect.
- Wait for an invitation to apply from the Department of Home Affairs. You must lodge your application within 60 days.
- Prepare and submit your visa application via the ImmiAccount, including all required documents such as identity documents, police clearances, evidence of assets, and investment plans.
If you have further questions about ImmiAccount, read our guide on how to create an ImmiAccount.
- Wait for the visa decision. During this period, the Department may request additional information or requirements, such as biometrics.
- Once granted, regularly perform a VEVO check to stay informed about the conditions attached to your visa.
Need Help With Your Business Visa Application?
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Book a free consultation with one of our agents today!
Disclaimer: The above information is a general guide and not professional immigration advice. Immigration laws and regulations can change swiftly, potentially rendering some or all of the information outdated. For the most current advice, consult with a migration agent or the Department of Home Affairs.