Visa Options under the Business Innovation and Investment Program (BIIP)
Entrepreneur stream – 188E
Business Innovation stream -188A
Investor stream – 188B
Significant Investor stream – 188C
Overview
The Business Innovation and Investment Visa is for people with a successful business or with investment experience who would like to operate a new or existing business, or invest in Australia. From 1st July 2021, the Department of Home Affairs has changed the Business Innovation and Investment Visa framework significantly, minimizing 9 categories into 4.
Investor Visa
Are you looking to make a substantial investment in Australia and want to migrate along with it? Navigating through the complex world of investor visas can be overwhelming, but EEM Education and Migration is here to guide you every step of the way. Let’s explore the different types of investor visas, focusing on the 188 and 888 subclass visas, to provide you with the insights you need to make an informed decision.
Subclass 188 Visa: The Provisional Business Visa
What is it?
The subclass 188 visa is also known as the Provisional Investor Visa. This visa is perfect for individuals who are looking to invest in an Australian state or territory and want to maintain business and investment activity.
Eligibility Criteria
Asset requirements: A minimum personal and Business asset of 2.5 million is required.
Investment Requirement: A minimum investment(2.5 to 5 million) depending on visa stream in an Australian state or territory is required.
Business Experience: You must have at least three years of experience either owning or managing a business.
Nomination: A state or territory must nominate you to apply for this visa.
Additional Requirements: Health and character assessments are also mandatory.
Age and Functional English requirements are applied.
How to Apply
Expression of Interest: Submit an EOI (Expression of Interest) through the SkillSelect online service.
State Nomination: After receiving a nomination from a state or territory, you can proceed to the application process.
Application Submission: File your visa application online, providing all necessary documentation and paying the application fee.
Visa Decision: Wait for the application to be processed and a decision to be made.
Subclass 888 Visa: The Permanent Investor Visa
What is it?
The subclass 888 visa is commonly referred to as the Permanent Investor Visa. This visa is for individuals who already hold a Provisional Investor Visa (subclass 188) and wish to secure permanent residency.
Eligibility Criteria
Investment Maintenance: You must have held your investment in an Australian state or territory for at least 4 years.
Compliance: Demonstrate consistent compliance with Australian laws and the specific requirements of your provisional 188 visa.
State Nomination: A state or territory must re-nominate you for this permanent visa.
How to Apply
Check Eligibility: Ensure you meet all requirements for the 888-subclass visa.
Gather Documents: Compile all necessary documents, including evidence of your maintained investment and compliance records.
Application Submission: Submit your visa application online, making sure to provide all necessary documentation.
Visa Decision: Once your application is reviewed and assessed, a decision will be made on your permanent resident status.
Significant Investor Visa
Another notable category under the investor visa umbrella is the Significant Investor Visa, which is actually a stream under the 188 subclass visa. This option is for individuals who are willing to invest at least AUD 5 million into complying significant investments in Australia and want to maintain business and investment activities.
How to Apply
Investment: Make the requisite investment in a complying investment.
Expression of Interest: Similar to the standard 188 visa, submit an EOI through SkillSelect.
State Nomination: Secure a nomination from a state or territory.
Application Submission: Submit the application with all required documentation and pay the applicable fee.
Conclusion
Investor visas offer a myriad of opportunities for global investors looking to venture into the Australian market. Whether you are eyeing the 188 visa, 888 visa, or even the Significant Investor Visa, EEM Education and Migration is committed to providing you with unparalleled consultancy services to make your investment and migration journey as seamless as possible.
For personalized advice and next steps tailored to your individual circumstances, feel free to contact us.