Basic Eligibility Requirements

In order to apply for subclass 188 visa, you must be:

• Under 55 years of age at the time of apply
• Able to score at least 65 on the points test system
• Be nominated by an Australian state or a territory government
• Lodge an Expression of Interest and be invited for the visa
• Able to submit proof of your business success (annual turnover, ownership stake)
• Meet health and character requirements
• You, your partner, or you and your partner together, have total net business and personal assets of at least AUD800, 000.

Must have a genuine commitment to be involved as an owner of a new or existing business in Australia.

 Subclass 188 Visa-Application Process

• Review the eligibility criteria, visa conditions, and document checklist
• For the state nomination, submit an Expression of Interest (EOI) through SkillSelect. Make sure to include all information in your EOI.
• The state authorities will assess your application, if you are qualified you’ll receive an invitation to apply.
• When you receive invitation, provide all necessary documents along with an application fee. You will be given 60 days to lodge your application with the Department of Home Affairs.
• The authorities will evaluate your application and may even request to additional information.

 Subclass 188 Visa- Cost And Processing Time

The processing time of your application depends on various factors, such as whether you have submitted all necessary documents or how timely you respond to the DHA requirements. But, in most common cases- an application under subclass 188 Business Innovation Stream takes around 15 to 22 months, and applicants under Investor Stream might have to wait around 18 to 20 months to know their application result.

Cost

This visa costs AUD5, 375 for the primary applicant.

There are also additional charge for each family member included in the application:

Applicant over 18 years old: AUD2, 685

Applicant under 18 years old: AUD1, 345