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The Business Investor Visa (subclass 188 visa) is a provisional visa available to applicants who want to make complying significant investments in Australia. The visa is valid for five years and is a viable pathway to permanent residency. This article will provide a brief overview of the minimum requirements to lodge an application for this visa in each Australian State and Territory.
Eligibility
To apply for the business investor visa, you must first determine whether you are eligible. Your eligibility will depend on whether you meet the criteria for the visa (as discussed below). Once you determine eligibility, you must lodge an expression of interest (EOI) via Skillselect.
In your EOI, you have the choice to be nominated by a specific State or Territory, or choose to be available for nomination by any State or Territory. You do not need to provide supporting documents at this stage. However, you must be able to provide evidence that the information supplied in the EOI is correct at the time you are invited to apply for the visa. If your EOI is successful and a State or Territory nominates you, the Department of Home Affairs will invite you to lodge a viss application.
Applicant Requirements
At the time you are invited to apply for the Business Investor Visa, you must meet the following criteria:
- be under 55 years of age (unless you can show that your proposed business is of exceptional economic benefit to the nominating state or territory);
- score at least 65 on the innovation points test, which takes into account factors such as your:
- age;
- English competency;
- qualifications;
- experience; and
- turnover and assets;
- you genuinely intend to live in the State or Territory that nominated you; and
- have demonstrated:
- experience in managing a business or eligible investments; and
- an ability to make the complying significant investment in Australia.
Business and Investment Experience
In addition, the subclass 188 visa requires you to have the following:
- a high level of skill (and a successful record) in managing eligible investments or qualifying businesses;
- a minimum of three years of direct involvement in the management of at least one qualifying business or eligible investment;
- no involvement in unacceptable business or investment activities. This includes both you and your spouse or de facto partner; and
- in at least one out of the last five financial years, directly managed:
- eligible investments owned by you (or your spouse or de facto partner) totalling at least AU$2.5 million; or
- a qualifying business, where you (and spouse or de facto partner) own at least 10% of the business’s total value (if the business is a publicly listed company. The applicants may need to show a higher percentage of ownership for private companies/businesses).
Net Assets
Complying Significant Investment
You must invest the funds in the following proportions:
- at least $500,000 in venture capital and growth private equity funds, which invest in startups and small private companies;
- at least $750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange; and
- a ‘balancing investment’ of at least $1.25 million in managed funds.
You may invest in your name or the names of you and your spouse/de facto partner (if applicable).
Additionally, you must make the complying significant investment with an Australian Financial Services (AFS) Licensed Fund Manager who is domiciled in Australia.
Key Takeaways
The Business Investor Visa is a provisional visa for applicants who intend to make a complying significant investment in Australia. Before submitting an EOI for this visa, you need to ensure you meet the additional eligibility criteria of the State or Territory that you require nomination from. Specific requirements may vary between the States and Territory.
If you need help with a subclass 188B visa application, our experienced immigration lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 1300 544 755 or visit our membership page.
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Frequently Asked Questions
This is a provisional business investor visa for applicants who can make complying significant investments in Australia. The visa is valid for five years.
A complying significant investment is a requirement that visa holders must invest at least $2.5 million in Australia and hold this investment for the duration of the provisional visa. Applicants must invest at least $500,000 in venture capital and growth private equity funds that fund start-up businesses. Additionally, you must invest at least $750,000 in an approved managed fund that invests in the Australian Stock Exchange. Lastly, you must make a balancing investment of at least $1.25 million. All investments must be made with a licensed fund manager in Australia.
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