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The Business Innovation and Investment (Provisional) visa (subclass 188) is part of the Business Innovation and Investment Programme.
You must submit an Expression of Interest (EOI) through SkillSelect and be nominated by a state or territory government before being invited to apply for this visa.
The visa includes three streams:
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia.
- Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia.
- Significant Investor stream: for people who are willing to invest at least AUD5million into complying investments in Australia and want to maintain business and investment activity in Australia.
Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).
The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188). You can apply for it after you have fulfilled the requirements of your provisional visa.
You do not need to submit a new Expression of Interest or be invited to apply for this visa. You need to be nominated by a state or territory government agency if you are seeking to satisfy the primary criteria.
If you are the holder of a provisional Business Innovation and Investment visa (subclass 188) and the state or territory which nominated you for that visa has not withdrawn the nomination, you have a current nomination by that state or territory.
If you are the holder of a Special Category visa (subclass 444), or require nomination from a different state or territory than your provisional Business Innovation and Investment visa (subclass 188) you are required to obtain nomination from a state or territory before you lodge an application for this visa.
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