Business Innovation & Investment Visa

Business Innovation and Investment Visa Programme is designed to increase
entrepreneurial talent and diversify business expertise in Australia. It is positioned to target migrants that have a demonstrated history of success in innovation, investment and business and are able to make a significant contribution to the Australian economy.

McKkr’s provides expert advice to Migration Agents and Lawyers on Business Innovation & Investment Visa. If you seeking assistance in this visa category for your client, Contact Us today and consider either of the following options:

• Refer a case to us on a commission based model.
  To know more about the commission we offer, email us at admin@mckkrs.com.au.
• Work with us on a fee sharing basis.
• Book a consultation with us to seek advice/ opinion on a case.
  To know more about this option, visit our RMA Consultation page.

• Business Innovation stream is for applicants with business skills who want to establish,develop and manage a new or existing business in Australia.
• Investor stream is for applicants who want to make an investment of at least AUD 1.5million in Australia and maintain business &investment activity.
• Significant Investor (SIV) stream is for applicants who are willing to invest at least AUD 5million in Australia and maintain business & investment activity.
• Premium Investor (PIV) stream is for applicants who are willing to invest at least AUD15 million in Australia and maintain business & investment activity.

For Business Innovation and Investment (Permanent) Visa (Subclass 888), there is a fifth stream, Entrepreneur Stream where you demonstrate successful record of entrepreneurial activities in Australia.

The objectives of the programme is to contribute to the growth of the Australian
economy by:

• Generating employment
• Increasing the export of Australian goods and services
• Increasing the production of goods and services in Australia
• Introducing new or improved technology
• Increasing competition and commercial activity
• Developing links with international markets
• Increasing the dispersal of business migrants across Australia through state and
  territory government sponsorship.

Applicant must submit an Expression of Interest (EOI) through SkillSelect and be nominated by a state or territory government or Austrade on behalf of the Australian government before being invited to apply for this visa. We can assist you in preparing your clients’ EOI and other applications, Contact Us.

Eligibility requirements for Subclass 188 Visa

• Ownership of a business with turnover of at least AUD 500,000 for at least 2 of the last 4 fiscal years
• Net personal and business assets of at least AUD 800,000
• The two streams, Business Innovation stream and the Investor stream is based on a points-test system, therefore you must score at least 65 points for these streams
• Under 55 years of age, unless the nominating state or territory certifies that the applicant will make an exceptional economic benefit
• Have an overall successful career in business
• Meet certain health and character requirements

Advantages of Business Innovation and Investment Visa

• Travel in and out of Australia any number of times as long as the visa is valid
• Have family accompany your client to Australia where they will also have access to work and study rights
• Establish a pathway to permanent residency
• Depending on the stream, your client can also renew their visa for an additional two years

English requirement does not apply to Subclass 188 visa. Further, upon fulfilling conditions for this visa, applicant is eligible to apply for a permanent business skills visa (Subclass 888).

Common eligibility requirements for Subclass 888 Visa

• Nominated by an Australian State or Territory, or by Austrade, on behalf of the Australian government
• Primary holder of a provisional 188 visa or be a secondary visa holder who is a spouse or de facto partner of a provisional 188 holder in the Investor or Business Innovation stream, or holder of Special Category visa Subclass 444, Business Long Stay visa Subclass 457IE for Business Innovation stream
• Meet other requirements of relevant visa stream
• Not involved in unacceptable business or investment activities

Your client does not need to submit a new Expression of Interest or be invited to apply for 888 visa. Your client needs to be nominated by a state or territory government agency or Austrade on behalf of the Australian government if they are seeking to satisfy the primary criteria. We can assist you in preparing your clients’ applications, Contact Us.

Additional primary requirements to qualify for Subclass 888 visa

• Your client and the partner have a satisfactory record of that they have complied with Commonwealth laws and the State or Territory where your business operates;
• Your client and the partner meet Australian health and character requirements; and
• Have a genuine and realistic commitment to continuing their business and investment activity in Australia after the original investment has matured.

Your client will also be subjected to additional requirements, depending on the stream they held in the original Subclass 188 provisional visa.

Advantages of Business Innovation and Investment (Permanent) Visa

The Business Innovation and Investment (Permanent) visa grants your client permanent residence in Australia. It allows them and eligible family members to:

• Stay in Australia indefinitely
• Work and study in Australia
• Enrol in Medicare
• Apply for Australian citizenship once they become eligible
• Sponsor eligible relatives for permanent residence
• Travel to and from Australia