Australia’s Business Innovation and Investment (provisional) visa allow foreign investors to invest in an eligible business in Australia to support the innovative or high-growth potential of that business and develop new businesses that will create new jobs.
The provisional visa offers significant benefits over other types of visas, such as the Skilled Independent visa, including no requirement to speak English. It allows holders to travel overseas during the two-year provisional period without affecting their status or lodging a Protection application.
However, there are also some important limitations, especially concerning working on a provisional visa.
Business Innovation and Investment (provisional) visa – eligibility
To be eligible for the Business Innovation and Investment (provisional) visa, you must:
Be nominated by an Australian state or territory government agencyScore at least 65 points on the points testHave had no involvement in unacceptable business activitiesMeet the English language requirementsBe less than 55 years of age Have access to $200,000 in investment funds from Australia or overseasScore 60 points on the skills assessment.What does it cost?
The Business Innovation and Investment (provisional) visa 188 costs vary for the main applicant and for each additional applicant over 18 years of age. The application fee is non-refundable and covers the cost of processing your application. You may also be required to pay other fees, such as the costs of police checks, medical examinations, and English language tests.
What are the benefits?
The Business Innovation and Investment (provisional) visa is a great way to invest in Australia’s economy and get permanent residency. The provisional visa allows you to live and work in Australia for four years, during which time you can establish your business. After those four years, you can apply for permanent residency.
The benefits of this visa are many:
You can live and work in Australia indefinitely.You can bring your family with you.There are no restrictions on the type of business you can establish. You can also study while you are here and start a new career or take up an apprenticeship. You will have access to social security benefits if needed and be able to sponsor other people into Australia under certain circumstances.How do I apply?
You can apply for the Business Innovation and Investment (provisional) visa online with the help of Australia Immigration Consultants. The application process is simple, and you will need to provide basic information about yourself and your business.
Once you have submitted your application, you will be contacted by a case officer who will assess your eligibility for the visa. If you are successful, you will be granted a provisional visa allowing you to live and work in Australia for four years.
At any time during this period, you may submit an application for a permanent visa if the rules permit. It is also possible to apply for temporary residence visas if you require them for shorter periods or just want to come and visit temporarily.
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