Australia Business Innovation and Investment Visas

This provisional visa is aimed at entrepreneurs, business owners, and investors looking to establish or develop a business in Australia. To qualify, you generally need to:

• Be nominated by an Australian State or Territory.
• Meet turnover requirements if you’re applying under the Business Innovation stream. Specifically, for at least two years before you’re invited, your business (or businesses) must have had a minimum annual turnover of AUD 750,000.
• Maintain sufficient ownership in your business:
  • 51% if your business turnover is under AUD 400,000 per year.
  • 30% if your business turnover is AUD 400,000 or more per year.
  • 10% if the business is publicly listed.
• Hold personal and business assets worth at least AUD 1.25 million (for the Business Innovation stream).
• Show a successful business track record and, in most cases, be under 55 years of age (unless a state or territory agrees to waive this requirement).
• Investor stream requirements:
  • Own at least 10% of a qualifying business or have made investments of AUD 1.5 million within the past 5 years.
  • Have assets valued at a minimum of AUD 2.25 million.
  • Invest AUD 1.5 million into the state or territory that nominated you.
  • Possess at least three years of experience in managing businesses or investments.
• Significant Investor stream:
  • Make an investment of at least AUD 5 million and hold it for at least four years.
• Premium Investor stream:
  • Submit an Expression of Interest (EOI) to Austrade and receive an invitation to apply.
  • Invest at least AUD 15 million.
  • Hold net assets of at least AUD 15 million.
• Entrepreneur stream:
  • Submit an EOI and be nominated by a State, Territory, or a Commonwealth agency.
  • Undertake entrepreneurial activities in Australia with genuine intent to continue.
  • Secure at least AUD 200,000 in funding from an approved entity.

This permanent visa is intended for people who already hold certain provisional business visas and have been running a business in Australia. You may qualify if you:

• Hold one of the following provisional business visas: 160, 161, 162, 163, 164, or 165.
• Have lived in Australia on one of the above visas for at least 12 months in the two years leading up to your application (this 12-month period does not need to be continuous).
• Have owned or managed an Australian business for a minimum of two years before applying.
• Continue to meet the original visa requirements you had at the time your provisional visa was granted.

This permanent visa is typically the follow-up to the 188 Provisional visa. You can apply for subclass 888 if you have held one of the following:

• Business Innovation and Investment (Provisional) Visa 188 in the Business Innovation, Investor, Significant Investor, Premium Investor, or Entrepreneur stream.
• Extension of a 188 Innovation or Significant Investor visa.
• A Special Category (444) visa.
• A subclass 457 visa in certain cases.

You must also meet the specific requirements of your previous stream—for instance, maintaining the required investments, ongoing business involvement, or complying with any entrepreneurial milestones.

This permanent visa is available to those who have previously held an Investor (Provisional) visa (subclass 162) and wish to settle in Australia. To qualify, you must:

• Have maintained a designated investment of AUD 1.5 million for four years.
• Have spent at least two years in Australia out of the four years leading up to your application (does not need to be continuous).
• Meet general Australian visa health requirements.

This permanent visa is for business owners who have State or Territory sponsorship. You must:

• Hold (or have held) one of the provisional Business Owner or Investor visas (160, 162, 163, 165, etc.).
• Have been in Australia for at least one year in the two years before lodging your 892 application.
• Own and operate a business in Australia for a minimum of two years before applying.
• Be sponsored by the same State or Territory where your business is established.

This permanent visa is for investors who have been sponsored by a State or Territory. You may apply if you:

• Previously held a State/Territory Sponsored Investor (Provisional) visa 165.
• Lived in the sponsoring State or Territory for at least two years in the four years before applying.
• Are committed to continuing your investment activities in Australia.
• Maintained your original AUD 750,000 designated investment for four years.
• Have not engaged in unlawful business practices.

• Business Plans/Goals: Detailed outline of proposed business or investment activities (e.g., the sector you’ll focus on, research conducted, etc.).
• Financial Statements (Independently Audited): Balance sheets, profit/loss statements covering at least two fiscal years before you’re invited.
• SALP (Statement of Assets and Liabilities Position) – Form 1139A: Shows the total net business and personal assets (e.g., AUD 800,000 minimum in some streams).
• Stream-Specific Documents:
  • Investor Stream: Proof of at least three years’ experience owning or managing a business, plus evidence of having AUD 1.5 million to invest.
  • Significant/Premium Investor Streams: Documents outlining how you’ll invest AUD 5 million / 15 million, source of funds, and a declaration confirming funds are legally acquired.
  • Entrepreneur Stream: A funding agreement (AUD 200,000+) and a business plan for your entrepreneurial venture.

• Form 47BU, Form 927, Form 1217: Dedicated application and business skills profile forms.
• Proof of Operating an Australian Business: Two years of day-to-day involvement (decision-making, management, etc.).
• Financial Statements Covering 1 Year: Must be prepared at least three months before you apply, showing net business/personal assets of at least AUD 250,000.
• Employee Records: Proof you employed two (or more) full-time/part-time staff for at least a year.

• New Nomination Form (1414): Must be completed by the State/Territory or government agency that nominates you.
• Evidence of Having Held Visa 188: Includes records of ownership and active management for at least two years in Australia.
• Investment Records (Investor, Significant, Premium Streams): Proof you maintained the required investments (e.g., AUD 1.5M, 5M, 15M) throughout your provisional visa.
• At Least 2 Employees: For the Business Innovation stream, show you’ve employed Australian residents/citizens under correct wage conditions for at least one year.

• Form 47UB: Main application form for this subclass.
• Evidence of Designated AUD 1.5M Investment: Held continuously for four years under the subclass 162 visa.
• Residency Proof: Showing you lived in Australia for at least two out of those four years.
• Business Plans: Short summary of any future business or investment activities if you plan to continue investing.

• Sponsorship Form 949: Confirms State/Territory sponsorship.
• Form 47BU, Form 1217: Specific to the business application.
• Evidence of One Year’s Active Business: Operating your enterprise in Australia for the required period, plus an organizational chart and six photos of your business premises.
• Proof of Business Assets: At least AUD 250,000 combined for you/your partner, plus valid ABNs, BAS, and any turnover figures.

• Proof of Sponsorship: Again, Form 949 for State/Territory sponsorship.
• Evidence of Maintaining AUD 750,000 Investment: Held throughout your provisional 165 visa.
• Residency in Sponsoring State: Documents showing you lived at least two years in the sponsoring State/Territory in the four years before applying.
• One-Page Summary of Future Investment/Business Plans: Indicating how you’ll continue contributing economically.

For your business innovation and investment visa application, your documents have to be in English when you apply. If any documents are issued in another language, then make sure you provide a translated version alongside the original.

You can translate your documents through the National Accreditation Authority for Translators and Interpreters. If you are outside of Australia, then your translator has to write their full name, address, contact details, and qualifications, in the translated documents.

Your financial statements have to be prepared by an independent accountant to International Accounting Standards. The financial records must include a balance sheet, profit and loss statement, and notes to the accounts.

If you are applying from China, Macau, Hong Kong, or Taiwan then please refer to the Australian Consulate-General Hong Kong.

Your business visa 188 is valid for four years and three months. Applicants who applied before July 1st of 2015, can only stay for four years. You can stay longer if you want by applying for a new business visa 188. If you have a business innovation stream or a significant investor stream, you can apply for the business extension visa stream.

You can apply only once for this extension stream. Afterward, you must apply for a new business 188 visas or you may be eligible for permanent residence. If you become a permanent resident, then you may qualify to become an Australian citizen.

Yes, you can include your family members as long as they belong to the immediate family unit (spouse, partner, children). Your family members can apply together with you or you can add them later on as long as you take care to include them before your visa application is finalised.

For some visa applications, both you and your spouse must be in Australia at the time of application and at the time of the visa grant.

If you have a permanent business visa you can travel for five years without any restrictions. Afterward, you must apply for a resident return visa. If you have a temporary business visa, you can travel freely for the duration of your visa.

Yes, you can apply for another visa if your application is rejected. However, before you apply one more time you can request a review at the AAT (Administrative Appeals Tribunal), regarding the denial of your visa application by the Department of Foreign Affairs.

If your visa application is denied, you may apply for an appeal of the denial notice. When the department makes a decision on your application you will receive a letter stating whether you have the right to appeal or not.