188 Visa -Business Innovation and Investment Visas Subclass 188

If you apply for the Investor stream, you must:

• be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the relevant region
• score at least 65 on the Innovation Points test
• have a total annual turnover of at least AUD500 000 (in one or more of your main businesses) in at least two of the four fiscal years immediately before you are invited to apply
• own at least one of the following percentages of that main business (or two main businesses):
  • 51 per cent of a business with a turnover of less than AUD400 000 per annum
  • 30 per cent of a business with a turnover of more than AUD400 000 per annum
  • 10 per cent of a publicly-listed company
• have managed a business, in which you spent less than half your time on professional (such as a doctor or lawyer), technical or trade services
• have a genuine desire to own and maintain a management role in a business in Australia.
  You (or your partner, or you and your partner combined) must also:
• have total assets of at least AUD800 000 that have been legally acquired and able to be legally transferred to Australia within two years of the visa being granted
• have an overall successful business career with no involvement in unacceptable business activities.

If you apply for the Investor stream, you must:

• be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business or investment activity will be of exceptional economic benefit to the relevant region.
• score at least 65 on the Innovation Points test
• have a high level of management skill in relation to eligible investments or qualifying business activity
• have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
• have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.

You (or your partner, or you and your partner combined) must also:

• have a total assets of at least AUD2.25 million for the two fiscal years immediately before you are invited to apply. These assets must have been legally acquired and able to be legally transferred to Australia within two years of the visa being granted
• have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities
• be prepared to make your government-approved designated investment of AUD1.5 million using funds you have accumulated from your direct involvement, for at least one of the five fiscal years before you are invited to apply, in one of the following activities:
  • managing your eligible investments that total at least AUD1.5 million
  • managing a qualifying business in which you owned at least 10 per cent of the total value of the business.

If you apply for the Significant Investor stream, you must be prepared to invest at least AUD5 million in at least one of the following ‘complying investments’:

• Commonwealth, state or territory government bonds
• Certain managed funds that have a mandate for investing in one of the following Australian assets:
  • infrastructure projects in Australia;
  • cash held by Australian deposit taking institutions;
  • bonds issued by the Commonwealth Government or a State or Territory government;
  • bonds, equity, hybrids or other corporate debt in Australian companies and trusts listed on any Australian Stock Exchange;
  • bonds or term deposits issued by Australian financial institutions;
  • real estate in Australia;
  • Australian Agribusiness; and other ASIC regulated managed funds that invest in the above list of investments.
• Direct investment into private Australian companies not listed on any Australian stock exchange. You must obtain an ownership interest in the company. The company must:
  • genuinely operate a qualifying business in Australia
  • be registered with ASIC
  • have an Australian Business Number (ABN).