Business Innovation and Investment (Provisional) Visa (subclass 188b)
Investor Stream Summary
This provisional visa is valid for 4 years and requires you to invest at least AUD 2.5 million in Australian investments that meet certain requirements and maintain business or investment activity in Australia.
Once you have made a qualified 4-year investment in Australia, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888).
· carry out business and investment activity in Australia
· stay in Australia for up to 5 years
· bring eligible members of your family unit with you
· apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met
You must have managed a qualifying business or eligible investments.
For at least 1 of the 5 fiscal years immediately before we invite you to apply, and have directly managed:
· a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or
· eligible investments:
o Of at least AUD 2.5 million owned by you, your partner, or you and your partner combined, if invited on or after 1 July 2021.
o Of at least AUD 1.5 million owned by you, your partner, or you and your partner combined, if invited before 1 July 2021.
For the 2 fiscal years immediately before we invite you to apply, you, your partner, or you and your partner together, have business and personal assets with a net value of at least:
· AUD2.5 million if you were invited to apply on or after 1 July 2021
· AUD2.25 million if you were invited to apply before 1 July 2021.
These assets must have been lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted.
If you were invited to apply for this visa on or after 1 July 2021, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD2.5 million. You must hold complying significant investments continuously for the life of your provisional visa.
It must be invested in the following proportions:
· at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
· at least AUD750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
· a ‘balancing investment’ of at least AUD1.25 million in managed funds
The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.
We prohibit direct investment in residential real estate. We strictly limit indirect investment in residential property through managed funds.
You must not use investments as security or collateral for a loan.