Business visas

The Business Innovation and Investment Program has been designed by the Department of Immigration and Border Protection, to attract high calibre entrepreneurs and business specialists to Australia.

At Hartman Immigration Lawyers we have commercial experience across a range of industries to help you determine the best visa for your needs, whether you’re an owner, entrepreneur or investor looking to participate in Australia’s thriving economy.

The three types of Business Innovation and Investment visas include the following subclasses:

  1. Business Talent (subclass 132) visa which is a State or Territory sponsored permanent visa for high calibre business owners and entrepreneurs. It is divided into the following streams:
    • Venture capital entrepreneurs whereby applicants must have sourced $1 million in venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL), to fund the start-up or product commercialisation of a high value business; and
    • Applicants with a significant business history whereby an applicant must be a high calibre business owner who will enter into business in Australia. It is a requirement that the applicant be under the age of 55, have net business and personal assets of $1.5 million, and, an annual business turnover of $3 million.
  2. Business Innovation and Investment (subclass 188) visa which is a State or Territory sponsored provisional visa that has no minimum English requirement, and is valid for four years. It is required that applicants must have a points tested pass mark of 65, submit an Expression of Interest in SkillSelect and be less than 55 years of age (although it is possible, with the support of the nominating State or Territory, to seek a waiver of the age requirement). The subclass 188 visa contains two streams, being the business innovation stream and the investor stream.
  3. Business Innovation and Investment (subclass 888) visa which is a State or Territory nominated permanent visa that in contrast to the subclass 188 visa, is not points tested and does not require an Expression of Interest in SkillSelect. The subclass 888 visa also consists of two streams, being the business innovation stream and the investor steam.

To be eligible for the business innovation stream applicants must:

  1. Meet the requirements for owning and operating a business in Australia while on a provisional visa;
  2. Have a business turnover of $300 000 a year; and
  3. Have two out of three of the following:
      • business assets of $200 000,
      • net personal and business assets of $600 000; and/or;
      • employ two full-time employees.

Importantly, applicants seeking to apply under the business innovation stream must also demonstrate a genuine and realistic commitment to continue operating a business in Australia.

For the investor stream applicants are required to have held a designated investment for four years within the nominating State or Territory and have a genuine and realistic commitment to continuing business or investment in Australia.