Why applying for a 188 visa in Australia?
With the Business Innovation and Investment (Provisional) visa (subclass 188) Entrepreneur stream, aspiring entrepreneurs endorsed by a State or Territory government agency can pursue their startup and early-stage business concepts in Australia. This visa allows them to engage in entrepreneurial activities, reside in the country for up to 5 years, and bring eligible family members along. Furthermore, upon meeting certain criteria, visa holders can apply for permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream.
Cost overview
The cost of this visa is AUD6,395.00 for the primary applicant.
Additionally, there is a fee for each family member included in the application:
- For additional applicants over 18 years old: AUD3,195.00
- For additional applicants under 18 years old: AUD1,600.00
If any applicant aged 18 years or older does not meet the functional English requirement, they must pay an extra charge known as the second installment. This fee is payable only upon request, and we will refund it if the visa application is not granted.
The second installment charges are as follows:
- Primary applicant: AUD9,795
- Family members: AUD4,890
To determine the exact cost of your visa, you can use the Visa Pricing Estimator. Note that the estimator does not include the second installment or other associated costs such as health checks, police certificates, and biometrics.
Visa processing times
Visa processing times may vary depending on various factors such as the completeness of the application, the number of applications received, and the complexity of individual cases. You can check visa processing times on the official website of the Department of Home Affairs Australia using the following link: Visa Processing Times.
Duration of your stay
This is a provisional visa, allowing a stay of up to 5 years in Australia. It permits multiple entries, enabling holders to exit and re-enter the country as needed throughout the visa’s validity period. The visa becomes effective from the date of its grant.
Our team at Luminedge Legal Group is here to guide you every step of the way. Book a meeting today with one of our lawyers. And discover more about your visa options and Immigration success
Include family members
You can include your dependent child or children in your application at any time before we make a decision. They must meet our health and character requirements if applicable.
If the spouse or de facto partner of the main applicant did not apply together initially, they can still apply later as a subsequent entrant. However, a subclass 188 visa can only be granted to a subsequent entrant after the main applicant’s subclass 188 visa is granted.
To apply, complete the online ‘Application for a Business Innovation and Investment (Subsequent Entrant) Visa’ form in ImmiAccount. Please note that an application charge applies. For the primary applicant to be granted the visa, family members who are not coming to Australia must also meet our character requirements and may need to meet our health requirements.
Meet your entrepreneur obligations
If you were invited to apply on or after 1 July 2021, you must be engaged in or intend to engage in a complying entrepreneur activity in Australia. It is essential to possess a sincere intention to undertake and persist in the complying entrepreneur activity. Additionally, you must have received a nomination from a State or Territory government agency to foster your entrepreneurial endeavors.
If you were invited to apply before 1 July 2021, you must be engaged in or intend to engage in a complying entrepreneur activity in Australia. It is crucial to have a genuine intention to undertake and sustain the complying entrepreneur activity. Additionally, you must have a legally binding funding agreement with a third party amounting to at least AUD200,000. There are additional eligibility criteria for this visa.
The funding party is required to allocate at least 10% of the total funding to your entrepreneurial entity within 12 months of commencing the entrepreneurial activity in Australia. You must utilize this funding in accordance with the terms outlined in your funding agreement.
Your obligations
You and your family members who are part of your application must comply with all visa conditions and Australian laws.
Learn more about conditions for this visa.
You must also meet certain business obligations and obey Australian workplace laws.
Health Insurance
It is advisable to obtain health insurance to cover any unexpected medical expenses during your stay in Australia. You are responsible for all healthcare costs incurred while in the country, and having insurance can mitigate financial risks.
To ensure adequate coverage, please review our recommendations for suitable health insurance options. Additionally, learn more about health insurance for overseas visitors to understand your options better.
Certain countries have reciprocal healthcare agreements with Australia. For more information on these agreements, visit the Department of Human Services website.
Travel
While your visa is valid, you have the freedom to travel outside Australia and return as frequently as you wish. It’s important to note that the duration of your time spent outside Australia does not affect the validity of your visa.
Visa label
Your visa will be digitally linked to your passport. You will not receive a physical label in your passport.