Business Owner Stream (Subclass 188)
The Business Innovation and Investment (Permanent) visa (subclass 888) is a permanent visa that is available to individuals who already hold a provisional Business Innovation and Investment visa (subclass 188). It provides successful applicants with permanent residency in Australia, allowing them to live and work in the country indefinitely.
We offer expert advice and assistance on all aspects of Australian business visas. Whether you're interested in applying for a business visa to Australia, or you're already in the country and need help with visa extensions or appeals, our team of experienced migration lawyers is here to help
To be eligible for the Business Owner stream of the subclass 188 visa, applicants must meet the following requirements:
Be nominated by an Australian state or territory government agency
Have a genuine and realistic commitment to owning and maintaining a management role in a business in Australia
Have a net business and personal assets of at least AUD$800,000 that are available for transfer to Australia within two years of the visa being granted
Have a minimum of AUD$200,000 in net business assets in at least one of the last two fiscal years
Have a minimum ownership interest of 51% in the business if the business has a turnover of less than AUD$400,000 per year, or a minimum ownership interest of 30% if the business has a turnover of more than AUD$400,000 per year
Have a business plan that demonstrates the ability to meet the Australian requirements for the business, including regulatory, legal and financial obligations
Have a high level of management skill in relation to the eligible business activity
Meet health and character requirements
The Business Owner stream of the subclass 188 visa grants temporary residency in Australia for up to 4 years. Visa holders may travel, study, and sponsor eligible family members during this time. The visa also offers a pathway to permanent residency in Australia through the Business Innovation and Investment (Permanent) visa (subclass 888) after operating a business in Australia for at least 2 years and meeting eligibility requirements.
In addition, the visa provides access to business and investment opportunities in Australia, a stable and growing economy with various sectors for investment and growth. Applicants must submit an Expression of Interest (EOI) through SkillSelect and be assessed by an Australian state or territory government agency for nomination to apply for the visa.
The Business Owner stream of the subclass 188 visa is ideal for high-net-worth business owners interested in establishing or developing a business in Australia. It's recommended that applicants research various Australian state and territory government agencies and seek professional advice from an immigration lawyer for the best chance of success.
We at TooRoo Migration can guide you in navigating the complex requirements of the Business Innovation and Investment program by assisting with:
Advise on eligibility requirements and options for the different streams under the subclass 188 visa program.
Assist with the preparation and lodgment of the visa application, including providing guidance on required documents and evidence to support the application.
Help navigate the nomination process by liaising with relevant State or Territory government authorities.
Advise on business and investment opportunities in Australia and provide assistance with establishing or purchasing a business in Australia.
Provide ongoing support and assistance with meeting visa conditions and complying with Australian immigration and business laws.
Represent clients in dealings with the Department of Home Affairs and other relevant government agencies.