All 188 Visas are provisional residence and it is a 2 step process to permanent residence. All applicants for a 188 visa must be nominated by a State or Territory Government.
Firstly, there is visa subclass 188A – the Business Innovation Stream. This is for business owners who have operated a business for a minimum of 2 out of the last 4 years. It is a points tested application and applicants need to score a minimum of 65 points to be invited to apply. Points will be awarded based on your business turnover, your net assets, number of years of business experience, and your age, as well as a number of other factors. You must have a genuine intention to enter into business in Australia upon arrival.
Secondly, there is the 188B – Investor Visa. This is for business owners or investors with at least A$2.25 million and the ability to invest A$1.5 million into a designated investment for a minimum of 4 years. The designated investment in Government Bonds and is guaranteed. You also need to score a minimum of 65 points to be invited to apply for this visa. Similar factors are assessed as for subclass 188A.
See 5 Different Visa Streams of Subclass 188 (Part 2) HERE
Need help deciphering the Subclass 188 Visas? Get in contact with Four Corners on +61 2 8904 0100 or firstname.lastname@example.org