Everything you need to know about getting a Business Innovation visa in Australia.
Business Innovation Visa (Provisional - Subclass 188A)-Frequently Asked Questions
- What is the Business and Investment Visa (Subclass 188A)?
All 188 Visas are for acquiring a provisional residence permit in Australia. Subclass 188A is the Business Innovation Stream which allows you to work and live in Australia if you have business skills and have a genuine intention of owning or managing a new or existing business in Australia upon arrival. It lets you stay in Australia for up to 5 years.
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- Who needs this visa?Â
If you want to operate a new or existing business in Australia and bring eligible family members with you to Australia, then the Australian Business Innovation Visa is for you. Also, if you want to apply for a permanent Business Innovation and Investment visa (subclass 888), then this visa is worth your effort.
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- How do I apply for this visa?Â
To apply for this visa, you must follow the below process:- Submit an Expression of Interest (EOI) on Skill Select on the Australian immigration and citizenship website for acquiring a working visa in Australia.
- Depending on where you plan to establish your business and live in Australia, Apply for state/territory nomination.
- You will receive an Invitation to Apply (ITA) once the state/territory nomination is approved. You can submit your visa application within 60 days of receiving the ITA.
- You will be required to provide all the supporting documents by mailing the certified copies to the correct DHA office.
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- What are the application criteria for this visa?Â
- All applicants for a 188 visa must be nominated by a State or Territory Government.
- Score at least 65 on the points test. Points are awarded based on your business turnover, your net assets, your age, business experience, etc.
- Provide proof of your business success like annual turnover or ownership interest.
- You, your partner, or you and your partner together must have a total net business and personal assets of at least:
- AUD1.25 million if you were invited to apply for this visa on or after 1 July 2021
- AUD800,000 if you were invited to apply for this visa before 1 July 2021
- You are below 55 years of age unless an exception has been granted to you on the grounds of your proposed business promising a really good economic benefit.
- In the last four years, your business has achieved at least AUD 750,000 in turnover for two years.
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- How long will it take for my temporary business visa to be granted?Â
Once the State or Territory government sponsorship is confirmed, the invitation is issued by the Department in a few days. The visa processing duration may then depend on any specific issues related to your application.
The processing time for 75% of applications is 29 months and for 90% of applications is 32 months according to the Australian Department of Home Affairs website. However, with our reputable partners our clients can obtain this quicker as we only ensure that decision ready applications are lodged so that the application is ready when a case officer is assigned. This method can decrease your waiting times for 75% of the applications to be finalised within 12-18 months and for the 90% of applications within 18-24 months.
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- What is the cost to obtain the 188A visa?
The cost to obtain the 188A visa is AUD 6,085 onwards. Rest of fees depend on the number of family members included and other factors.
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- How do I meet the English language requirement for the Business Innovation stream?Â
You will need to prove your Vocational and Proficient English. To meet the English language requirement for the Business Innovation visa, you would need an overall score of 5 in IELTS (with a minimum of 5 in each component) in Vocational English and an overall score of 7 (with a minimum of 7 in each component) in Proficient English.
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- Is it required to go through a point test or fulfil an age requirement for any stream?Â
While it is compulsory to go through a point test when applying for the Business Innovation stream and the Business Investment Stream, those who apply under the Entrepreneur stream and Significant Investor do not require points test. For this stream though, the applicant should spend 40 days per year accumulated out of the 5 years they hold the (Subclass 188) Business and Innovation Significant Investor Visa Stream.
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- Are the applicant’s family members allowed to reside and work in Australia?Â
All the family members who have been granted an Australian visa are eligible to study and work in Australia. You can include your partner, child/stepchild, or your partner’s child/stepchild in your visa application at an additional cost.
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- What if I failed to lodge a visa application within 60 days of receiving an invitation from the Department of Home Affairs?Â
The invitation is only valid for 60 days. In case, you fail to apply within 60 days, your EOI will lapse and you will not be considered for the visa. You will have to begin the full process again.
If all of this seems overwhelming to you, you can always take the guidance of immigration specialists to help you prepare all the necessary documents as well as for the visa interview focusing on every little detail related to your case. This can increase your chances of obtaining the Australian Business Innovation visa.
