The Business Innovation stream of the Subclass 188 visa is for people with business skills who want to establish, develop and manage a new or existing business in Australia. You must be involved in the day to day running of the business. This stream is points tested.
How it works
There are a number of stages for the Business Innovation and Investment (Provisional) visa :
The first stage is the Expression of Interest (EOI). An EOI is a request by you, to the Department of Immigration and Border Protection, to be invited to make a visa application. You will be requested to provide a range of information about yourself, your intended business and the source of your investment capital. The quality and content of your documentary evidence, will impact upon whether or not you are invited to make a visa application.
The second stage is an application for nomination by a State or Territory Government. Your application will be assessed on the basis of the economic benefit to the State (or Territory).
The third stage is to lodge a visa application following an invitation from the Department of Immigration and Border Protection. Again, the quality and content of your documentary evidence will impact upon the speed at which your application is processed by the Department of Immigration and Border Protection (DIBP). Inadequate content, information inconsistent with your EOI or incorrectly completed application forms may result in your application being refused. The Department’s visa application charges are usually non-refundable in the event of a refusal.
The Business Innovation and Investment (Provisional) visa is initially granted as a Provisional (Subclass 188) visa which can later, if the conditions of that visa are met, be converted to a Permanent (Subclass 888) visa.