The Australian Business Innovation and Investment (Provisional) (subclass 188) Visa is a temporary business skills permit even as it enables those business persons–who are rather successful–to own (or be the part owner of) a fresh or existing firm inside Down Under.

The validity of this temporary permit is 4 years while the holders could be entitled to suitably file a petition for the status of permanent residency, post catering to the conditions of their provisional permit, for not less than 2 years. Close members of the applicant’s family (including a mate & dependent kids), who find mention on the visa-submission, are also eligible to stay, get involved with work & pursue studies inside the Kangaroo Land.

In the wake of effectively fulfilling certain given prerequisites, the visa holders, under the under Business Innovation Stream (Provisional) Class, may fittingly present a submission for the status of permanent residency even as the same could call for sponsorship from an involved Australian State or Territory administration.

Australian Business Innovation Category Permit Prerequisites

As mentioned before, the said permit is of a temporary nature, and meant for flourishing business owners who are below 45 years. Apart from this requirement, it is also mandatory that the candidates exhibit a thriving livelihood in business with noteworthy returns, and a pledge to be the owner of a firm inside the country. It is also essential that the aspirants put forward a comprehensive proposal for business together with their petition for the said visa, and show that they have plenty of assets to settle in the Kangaroo Land, without any hassles or issues whatsoever.

The aspirants above the age of 45, but below 55, could make the cut for what is called the State/Territory Sponsored Business Owner (Provisional) Permit. It has a lower monetary threshold.

All candidates are required to present an Expression of Interest (EOI) even while they garner not less than 65 test points.

Australia Immigration Business Innovation Visa Class: Who Are Eligible?

One may file a petition for this permit in case:

1. He has been duly sent an invite to file a petition.
2. He has a flourishing investment and/or business background.
3. He has ample business & personal resources.
4. He has nomination from one of the nation’s territories or state administrations.

Australia Business Innovation Stream: Privileges

This permit enables the holders to:

1. Set-up a fresh or develop an existing firm in the country (the Business Innovation Category)
2. Make an assigned investment with an Australian state or territory government (the Investor Category).
3. Make an investment of not less than AUD5 million in the Kangaroo Land (the Significant Investor Category).

Visa Application Charges

The minimum costs for this permit petition is AUD4065.