188 Visa

I think you may be referring to the Business Innovation and Investment (Permanent) visa (subclass 188). This visa is part of the Business Innovation and Investment Program, which aims to attract experienced business owners, investors, and entrepreneurs to Australia. Here's an overview of the subclass 188 visa:

Key Points about the subclass 188 visa:
  1. Purpose: The subclass 188 visa is a temporary visa that allows successful business owners, investors, and entrepreneurs to establish or develop a business in Australia, conduct business and investment activities, or undertake entrepreneurial activities.
  2. Streams: There are five streams under the subclass 188 visa:
    • Business Innovation stream: For individuals with business skills who want to establish, develop, or manage a new or existing business in Australia.
    • Investor stream: For individuals who want to make a designated investment of at least AUD 1.5 million in an Australian state or territory and maintain business and investment activity in Australia.
    • Significant Investor stream: For individuals who want to make a significant investment of at least AUD 5 million in complying investments in Australia and maintain business and investment activity in Australia.
    • Premium Investor stream: For individuals who are nominated by Austrade and want to make an investment of at least AUD 15 million in Australia and maintain business and investment activity in Australia.
    • Entrepreneur stream: For individuals who have funding of at least AUD 200,000 from a specified funding entity to undertake entrepreneurial activities in Australia.
  3. Eligibility: To be eligible for the subclass 188 visa, you must meet the specific criteria and requirements of the stream you are applying for. This may include having relevant business experience, meeting the minimum investment threshold, or having access to funding from a specified funding entity.
  4. Temporary Residence: The subclass 188 visa is a temporary visa that allows you to stay in Australia for a specified period, depending on the stream you are applying for. The visa duration varies between two and four years.
  5. Pathway to Permanent Residency: While the subclass 188 visa itself is a temporary visa, it provides a pathway to permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888). To be eligible for the subclass 888 visa, you must meet certain residency and business or investment requirements while holding the subclass 188 visa.
  6. Business Obligations: Visa holders are required to meet certain business or investment obligations while holding the subclass 188 visa. These obligations may include actively managing a business, maintaining investment activity, or undertaking entrepreneurial activities in Australia.

Overall, the subclass 188 visa is designed to attract experienced business owners, investors, and entrepreneurs to Australia, contributing to the country's economic development and growth. It's a pathway to both temporary residence and permanent residency for individuals who meet the eligibility criteria and are willing to invest in Australia's economy.