Are you planning to start or expand your existing business in Australia? If yes, then you need to apply business innovation and Investment visa sub-class 188. However, to do this, you must be nominated by the state or the Australian agency to be eligible to apply.
Benefits of applying for Business Innovation and Investment (provisional) visa (subclass 188)
The benefits of applying for this visa include:
- Enjoying limitless travel both in and out of Australia
- The freedom to bring your family to Australia
- It gives you the chance to apply for permanent residence in Australia
- gives you the chance to apply for Australian citizenship
- It allows you to invest, start or develop an existing business in Australia
Step by step process on how to apply for a business innovation investment (provisional) visa (subclass 188)
Step 1: Meet all Visa requirements
You must meet all visa requirements to apply for a subclass 188 visa. You must also meet all the requirements under the stream that you are applying for. The four streams that an individual is eligible to apply for from the subclass 188 visa include:
- Business innovation stream
This stream is ideal for people who want to start, develop or manage their existing or new business in Australia. This stream requires you to be nominated by the territory government or the state.
- Investor stream
This stream is ideal for individuals who want to strategically invest at least AUD 1.5 million in Australian territory or state or want to maintain investment or business activity in Australia. Like the business innovation stream, the investor stream also requires nomination by the territory government or the state.
- Significant Investor Stream
Significant Investor Stream is perfect for people who wish to invest at least AUD 5 million in Australia or maintain their business in Australia. This stream requires nomination by the territory government or the state.
- Premium Investor Stream
Premium Investor Stream is ideal for individuals who wish to invest at least AUD 15 million or want to maintain investment or business activity in Australia. This stream requires nomination by the territory government or the state.
Step 2: Submit an Expression of Interest (EOI)
The next process is to submit your expression of interest. You will then be invited via the Skillselect to apply. When you submit an EOI, the territory government or the states will examine your business claims thoroughly, then determine whether you are eligible for nomination or not. If you meet the cut and get nominated, the state or territory government will invite you to apply for a subclass 188 visa via Skillselect. Once you receive an invitation, you will only have 60 days to apply. All information about employment and business in various states and territories and nomination requirement are available on their website.
Step 3: Gather all your documents
You will be required to submit multiple documents with your application to prove all claims made. So ensure you gather all the necessary documents needed as provided in the document checklist.
Step 4: Apply online
Once you have gathered all supporting documents and you are ready to apply, apply for business Talent Visa Subclass 132 online. Make sure you have all the documents ready and the Visa application fee, which you can pay with your credit card.
Step 5: Wait for the verdict
It can take a while before the DHA decides on your visa application. So, be patient
Step 6: Get your visa
Once your application is approved, you will receive your visa, meaning you can start working in Australia.
To learn more about visa applications for Australian residency, please visit this immigration legal website to find out more.