bUSINESS iNNOVATION AND INVESTOR VISA PROGRAM
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What is the Subclass 188 Business Innovation and Investor visa?
The subclass 188 Business Innovation and Investor visa is a provisional visa comprising of four different streams, including:
- The Business Innovation stream (188A)
- The Investor stream (188B)
- The Significant Investor stream (188C)
- The Entrepreneur stream (188E)
The requirements, conditions and benefits of each visa stream under this program vary and can be complex and difficult to navigate alone.
Our expert migration lawyers have extensive experience in preparing, lodging and monitoring business and investor visa applications, however the support we offer our clients goes beyond the visa application process. As an all service law firm, we have lawyers who can assist you with your business, commercial, property and corporate legal needs.
How can Stone Group Lawyers assist you?
The subclass 188 business innovation and investor visa is a state sponsored visa, meaning you must obtain approval from a state or territory government to apply for the visa before you lodge your visa application.
The visa application process involves four critical steps:
- Assessing your eligibility against the state and territory government requirements and visa requirements (as these can differ);
- Preparing and lodging an Expression of Interest through SkillSelect;
- Applying for state nomination with one of Australia’s state or territory governments; and
- Receiving an invitation to apply for the visa and lodging the visa application and supporting evidence with the Department of Home Affairs (Immigration).
The visa application process is extensive and complex and you will require significant evidence to prove your eligibility. Our experienced migration lawyers can assist you with this process and ensure that you are prepared to address the requirements prescribed under each stage of the visa application process.
Can I include my family in my visa application to Australia?
Yes, you can include your immediate family in your business or investor visa application to Australia.
Under the Migration Regulations, your immediate family is defined as the ‘members of your family unit,’ which can include your spouse or de-facto partner and dependent children.
Dependent children are children who are under 18 years of age or between 18 and 23 years of age. Children over 18 years of age must provide evidence to prove they are dependent on the main visa applicant.
Children aged 23 years of age cannot be included as dependent children unless they are dependent on the main visa application due to a partial or total physical disability.
Importantly, if your child turns 23 years of age during the visa processing time, you will no longer be able to include them in your visa application as a dependent child unless they can satisfy the definition above.
How much does it cost to apply for a business or investor visa in Australia?
The current visa application charges are:
- AUD $6,085 if you apply under the business innovation and investor visa streams;
- AUD $8,925 if you apply under the significant investor visa stream; and
- AUD $4,115 if you apply under the entrepreneur visa stream.
If you include family members in your application, they will incur additional application fees depending on their age and English language ability.
You and your family members who are over the age of 18 may need to pay a second visa application charge if you cannot prove you have at least functional English language ability. This charge is currently AUD $9,795 for the main visa applicant and AUD $4,890.
Please note that visa application charges are subject to change at any time and we recommend that you review the Department of Home Affairs website for constant updates.
How long does it take to get a business or investor visa in Australia?
The average processing time for the subclass 188 business innovation and investor visa varies depending on the visa stream you have applied under.
The current visa processing times under each visa stream are:
- 14 to 35 months for business Innovation stream applicants
- 23 to 38 months for investor stream applicants
- 8 to 26 months for significant investor stream applicants
- 3 to 8 months for entrepreneur stream applicants
How much money do I need to invest to get a business visa in Australia?
The amount you must invest in Australia to obtain a subclass 188 business innovation and investor visa, will depend on the visa stream you choose to apply under and the state or territory you choose to conduct your business or invest within.
State Government requirements for each visa stream can be reviewed by visiting the relevant State Government websites below:
- Queensland – Migration Queensland
- New South Wales – NSW Government
- Victoria – Live in Melbourne
- Western Australia – Small Business Development Corporation
- South Australia – Migration SA
- Tasmania – Migration TAS
- Canberra – ACT Government
How do I apply for a business visa or investor visa to Australia?
The service we provide includes the following critical work:
- Reviewing your eligibility and prospects for a subclass 188 business innovation and investor visa;
- Discussing, reviewing and assisting you in developing your business plan for Australia (if required);
- Connecting you with key support services such as accountants, banks, financial advisers, fund managers, business brokers and more;
- Preparing and lodging your Expression of Interest through SkillSelect
- Preparing and lodging your state nomination application with your chosen state or territory government in Australia;
- Preparing and lodging your visa application if and when you are invited to apply for the visa;
- Monitoring your visa application until a decision is rendered by the Department of Home Affairs (Immigration);
- Connecting you with the appropriate settlement support to ensure you can arrive smoothly in Australia and establish your business or invest; and
- Connecting you with our experienced team of corporate and commercial lawyers to assist you with all your legal needs relating to your business ventures and investments in Australia.
As an all-service law firm, we have lawyers who can assist you with the visa application process and lawyers with expertise in commercial, corporate, business, property and family law who can assist you in establishing and maintaining a business in Australia, investing in Australia and settling in Australia.