Why do you need Business Innovation and Investment Provisional visa?
- To manage and own a business in Australia under the business innovation stream.
- To execute any entrepreneurial activity in Australia under the entrepreneur scheme.
- To execute any investment or business activity in Australia under investor stream, Premium Investor scheme and Significant investor scheme)
How many streams are included in this type of visa?
There are broadly five streams included in this type of visa:
Business Innovation Stream: If you want to manage, establish or develop a new or existing business in Australia with the nomination by territory or State government, you are eligible for a business visa under this stream.
Investor Stream: If you want to make an investment of at least AUD 5 million in Australian territory or State to maintain business or investment activity and nominated by the state or territory government, you are eligible to get the Business visa under this stream.
Significant Investor Stream: If you are willing to invest a minimum of AUD 5 million into complying with significant investments in Australia and maintain the business as well as an investment activity, you are eligible to procure a Business visa under this stream. Austrade contacts each applicant after screening the applications on the behalf of Australian Government.
Premium Investor Stream: If you are willing to invest a minimum of AUD 15 million in the prescribed complying premium investments in Australia and are willing to maintain the business and investment activity within Australia, you are eligible for visa under this category. Suitable candidates are contacted by the Austrade for the purpose of nomination on the behalf of the Australian government.
Entrepreneur Stream: If the applicant has a funding arrangement from a third party for at least AUD 200,000 to comply with entrepreneur activity which contributes to the commercialization of any service or product in Australia or the development of any business in Australia. Such applicants must be nominated by the territory or the state government in Australia.
To become eligible for Business Innovation and Investment (Permanent) visa (subclass 888), this visa is the prerequisite to qualify. What are the requirements for the Business Innovation and Investment (Provisional) visa (subclass 188) It is compulsory to score at least 65 points on the test to gain eligibility for a Business Innovation and Investment (Provisional) visa (subclass 188) in the investor stream or the Business Innovation stream. If you are applying for the significant or premium investment stream, this test eligibility is exempted. You are also exempted from this test score eligibility if you are applying under the Business Innovation Extension stream or the entrepreneur stream.
What are the prerequisites to get this type of Visa?
You should comply the following conditions to become eligible for this visa:
- You should be invited to apply.
- An eligible government organization should nominate the applicant.
- There are certain health and character requirements which need to be complied by the applicant.
- The additional requirements associated with the particular stream.
What are the minimum investments required under different streams?
- For investor stream, it should be at least AUD 1.5 million.
- For Significant investor stream, it should be at least AUD 5 million.
- For Premium Investor Stream, it should be at least AUD 15 million
- For Entrepreneur Stream, it should be at least AUD 200000.
How can we assist you in procuring business visa?
With our strategic and holistic approach, we offer the customized solutions to every applicant to get through the visa process easily. We have extensive experience in evaluating the varied intricacies involved in the visa applications. Hence, by representing the case with DoHA, we help in organizing, preparing, documenting, an lodging the visa application.