Visa 188 - Business Innovation and Investment - Innovation Stream (Provisional)

Business Innovation Stream

This visa is intended for people with a successful background as a business owner. Western Australian State nomination criteria includes:

  • you have a score of at least 65 on the Business Innovation and Investment points test

  • for two of the last four fiscal years you have held an ownership interest and directly managed up to two main businesses which had a minimum turnover of AUD$500,000 in each of those years

  • you have held an ownership interest in your business as follows:
       - 51 per cent, if the business has a turnover of less than AUD$400,000 per year
       - 30 per cent, if the business has a turnover of AUD$400,000 or more per year
       - 10 per cent, if the business is a publicly listed company

  • you, your partner, or you and your partner combined must have total net business and personal assets of at least $AUD850,000 which will be held in Western Australia within two years of visa grant

  • you have not been engaged in a business where the provision of professional, technical or trade services took up more than 50 per cent of your time

  • you are less than 55 years of age, or you are proposing to participate in a business or investment activity which will be of exceptional economic benefit to the State (please refer to the State nomination guidelines)

Take the business innovation stream points test to determine if you are eligible.

The majority of 188 Business Innovation and Investment – Business Innovation Stream visa holders will become eligible for permanent residence under the 888 Business Innovation and Investment visa – Business Innovation Stream once they have owned and managed a business* in Western Australia for at least two years and met the relevant criteria.

* You have not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890, 891, 892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa (888).

Either the primary or secondary applicant can apply for the Subclass 888 if the applicant meets the criteria for the 888.

At the time of application for the 888 Business Innovation and Investment Permanent Visa it is expected that applicants would have purchased a residence in Western Australia.

How to apply

STEP 1:
Lodge an application for State nomination with the Business Migration Centre (BMC). A fee of $AUD750 applies to all provisional visa nomination applications lodged with the BMC.

STEP 2:
If  you are granted State nomination you can proceed to lodge an Expression of Interest (EOI) through SkillSelect.

STEP 3:
Once nominated in SkillSelect by the BMC, you will receive an invitation from Department of Home Affairs to lodge your Business visa application which must be completed within 60 days using Department of Home Affairs electronic lodgement system.

Business Innovation 188 Extension

You might be able to extend your stay under an extension stream if you hold this visa under the Business Innovation stream and need extra time to meet the criteria for a permanent (subclass 888) visa.

Provisional visa holders in the Business Innovation stream can apply for one extension for an additional two years so your visa can last up to six years.

The criteria can be found on the Department of Home Affairs website.

Next steps