Australia | UK | USA | Canada

Book English Test

Business Innovation and Investment (188 Visa)

Business Innovation and Investment (188 Visa)

The 188A visa is available only to applicants who are nominated by an Australian State or Territory government and meet the points test for this visa. To be considered for nomination, applicants must submit an Expression of Interest (EOI) through the SkillSelect system.

The Business Innovation and Investment visa program (BIIP) will be discontinued, with visa application charge refunds available from September 2024 for those who choose to withdraw their BIIP applications.

The 188A visa is a 5-year temporary visa designed for individuals who want to own and manage a new or existing business in Australia. After establishing an ownership interest in an Australian business, applicants can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa. Additionally, a 2-year extension is possible once the applicant has held the Subclass 188 visa for 3 years, extending the visa to a total of 6 years from the original grant date.

Applicants can apply for this visa while in Australia or overseas.

If the applicant is in Australia, they must hold one of the following:

  • A Substantive Visa
  • A Bridging A, B, or C visa.

188A Business Innovation Stream

General 188 Visa Requirements:

  • Ownership of a business with a turnover of at least AUD 750,000 for at least 2 of the last 4 fiscal years.
  • Net personal and business assets of at least AUD 1,250,000.
  • Under 55 years of age, unless the nominating state or territory certifies the applicant will make an exceptional economic contribution.
  • Meet the pass mark in the Business Innovation and Investment Points test (currently 65 points).
  • Have an overall successful career in business.

Subclass 888 Visa Requirements:

  • The applicant must have held a subclass 188A visa and been in Australia for at least 12 months within the 2 years before applying.
  • Owned and operated a business in Australia for at least 2 years before the application, with an annual turnover of at least AUD 300,000 for 2 of the last 4 years.
  • The applicant and/or their partner must meet at least two of the following three criteria for the 12 months prior to application:
    1. Assets of at least AUD 200,000.
    2. Net personal and business assets of at least AUD 600,000 in Australia.
    3. Employed at least two Australian full-time employees in the business in Australia.

Points Test for Business Innovation and Investment (Provisional) Visa (Subclass 188):

To apply for a Business Innovation and Investment (Provisional) Visa (subclass 188) in the Business Innovation or Investor stream, you must score at least 65 points. The points test does not apply to the Significant Investor stream, Premium Investor stream, Business Innovation Extension stream, or Significant Investor Extension stream.

Points are awarded based on various factors, including:

  • Age
    18–24 years: 20 points
    25–32 years: 30 points
    33–39 years: 25 points
    40–44 years: 20 points
    45–54 years: 15 points
    55 and older: 0 points
  • English Language Ability
    Vocational English (IELTS 5 or equivalent): 5 points
    Proficient English (IELTS 7 or equivalent): 10 points
  • Educational Qualifications
    Trade certificate, diploma, or bachelor’s degree by an Australian institution or a recognized standard institution: 5 points
    Bachelor’s degree in business, science, or technology from an Australian or recognized standard institution: 10 points
  • Financial Assets
    Net business and personal assets of at least AUD 1,250,000: 5 points
    Net business and personal assets of at least AUD 1,750,000: 15 points
    Net business and personal assets of at least AUD 2,250,000: 25 points
    Net business and personal assets of at least AUD 2,750,000: 35 points
  • Business Turnover
    Ownership interest in one or more main businesses with an annual turnover in at least 2 of the 4 fiscal years immediately before the application:
    Not less than AUD 750,000: 5 points
    Not less than AUD 1,250,000: 15 points
    Not less than AUD 1,750,000: 25 points
    Not less than AUD 2,250,000: 35 points

Business Innovation Stream Only:

  • Business Experience
    Held one or more main businesses for at least 4 of the preceding 5 years: 10 points
    Held one or more main businesses for at least 7 of the preceding 8 years: 15 points

Investor Stream Only:

  • Investor Experience
    Eligible investments of at least AUD 250,000 for at least 4 years: 10 points
    Eligible investments of at least AUD 250,000 for at least 7 years: 15 points

Business Innovation Qualifications:

  • Patents or designs registered for at least 1 year and used in the daily activities of the main business: 15 points
  • Trademarks registered for at least 1 year and used in the daily activities of the main business: 10 points
  • Ownership in and daily participation in the management of a business operated under a formal joint venture agreement for at least 1 year: 5 points
  • Ownership interest in a main business with at least 50% of its turnover from export trade: 15 points
  • Ownership interest in a main business with average annual growth in turnover greater than 20% over 3 continuous fiscal years and employing at least 10 full-time employees in at least one of the 3 years: 10 points
  • Ownership interest in a business that received a grant from a government body of at least AUD 10,000 or venture capital funding of at least AUD 100,000 for early-phase start-up, product commercialization, business development, or expansion within the 4 years before application: 10 points
  • Special Endorsement: The nominating state or territory government agency determines that your proposed business is of unique and important benefit to the nominating state or territory: 10 points

Additional Points Information:

  • Age:
    You can receive up to 30 points based on your age on the day you were invited to apply. For the Business Innovation or Investor stream, no points are awarded for those aged 55 years or older.
  • English Language Ability:
    Vocational English (IELTS 5 or equivalent): 5 points
    Proficient English (IELTS 7 or equivalent): 10 points
  • Qualifications:
    You can receive points for educational qualifications, experience in business or investment, net personal and business assets, and business turnover as specified in the earlier sections.

Business Innovation

For the Business Innovation stream, this section of the points test awards points based on evidence of specific attributes when you are invited to apply for the visa. Points can be earned for multiple attributes, but each attribute will only be counted once.

  1. Registered Patents or Registered Designs (15 points)
    • The patent or design must have been registered for at least one year.
    • It must have been utilized in the daily operations of your nominated main business.
  2. Registered Trademarks (10 points)
    • The trademark must have been registered for at least one year.
    • It must have been used in the daily activities of your main business.
  3. Joint Venture Agreements (5 points)
    • The agreement must be a formal one that has been in effect for at least one year.
    • You must have played a senior role in the daily management and decision-making processes of the venture.
  4. Export Trade (15 points)
    • At least 50% of the annual turnover of one or more of your nominated main businesses must have come from export trade for at least two of the last four fiscal years.
  5. Gazelle Businesses (10 points)
    • Your nominated main business must have been registered for no more than five years.
    • The business must have had an average annual growth in turnover of more than 20% each year over a continuous three-year period.
    • The business must have employed 10 or more full-time employees for at least one fiscal year during the three-year period.
  6. Receipt of Grants or Venture Capital Funding for an Innovative Business Idea (10 points)
    • The funding must have been for early-phase start-up, product commercialization, business development, or business expansion.
    • Grants: You must have received a grant of at least AUD 10,000 under specific conditions from a government body in your home country within the last four years.
    • Venture Capital Funding: You must have received at least AUD 100,000 in venture capital funding within the last four years.
  7. Special Endorsement (10 points)
    • In certain cases, a nominating state or territory government may decide that your proposed business or investment offers a unique and significant benefit to the state or territory.

Other Points:

  • Validity of the Visa: The visa is valid for 4 years and 3 months. A subclass 188 Business Innovation visa holder may be eligible for one extension of up to 2 years, provided certain conditions are met.

If You Are in Australia and Staying During COVID-19:

  • You can remain in Australia on a Business Innovation and Investment (Provisional) visa (subclass 188).
  • To extend your stay, you must apply for a new visa before your current one expires.
  • You may be eligible for a bridging visa, which allows you to stay until:
    • You receive a new visa, or
    • You make arrangements to leave.
  • If your visa has expired or is about to expire, schedule a consultation to explore your options.

Leaving Australia:

  • If you leave Australia, you may not be able to return.
  • All visa holders must comply with current travel restrictions.

If You Are Overseas and Want to Travel to Australia During COVID-19:

  • Business Innovation and Investment (Provisional) visa (subclass 188) holders are permitted to travel to Australia.
  • Most other visa holders must adhere to current travel restrictions.
  • If you are unsure about your visa requirements, book a consultation.

Travel Restriction Exemption:

  • If you have a compassionate or compelling reason to travel to Australia, you can apply for an exemption.
  • Do not travel to Australia until you have received confirmation that you can.
  • If you are not granted an exemption, you cannot travel to Australia.
  • All travelers seeking an exemption must apply online.

Apply online for a travel exemption.