188B INVESTMENT VISA - Australian Migration agents | Immigration Lawyers in Melbourne & Canberra | Global Vision Migration


Applicants for the 188B visa must be nominated by an Australian state or territory government. This is a four-year temporary visa for those who desire to invest in an Australian state or territory in a specific way. The candidate can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa after maintaining an investment in Australia for four years. To apply for this visa, the applicants can be in Australia or abroad. 

If the applicant is in Australia: 

  • Must hold a Substantive Visa or a Bridging A, B, or C visa. 

Applicant must reside for at least 2 years in the nominating State. 

The Investor Stream (188B) 


  • For the previous two fiscal years, the applicant’s commercial and personal net assets totaled at least AUD 2.25 million. 
  • Unless the nominating state or territory certifies that the application would offer an exceptional economic benefit, the candidate must be under 55 years old. 
  • Prior to being granted the visa, the applicant must invest AUD 1.5 million in Australian State or Territory bonds. 
  • Have three years of experience operating a qualifying business or “eligible investments,” as well as a high level of management ability. 

  For at least 1 of the 5 fiscal years, you have either: 

  • Managed a business in which you hold a 10% shareholding; or 
  • Manage “eligible investments” of at least AUD 1.5 million 
  • Eligible investments include: 
  • Ownership interests in a business 
  • Cash on deposit 
  • Stocks or bonds 
  • Real estate 
  • Gold or bullion 
  • Loan to a business 


To apply for the Investor stream, you must achieve at least 65 points (the pass mark) on the points test. 

The test covers quantifiable indicators of business performance as well as points for various aspects of human capital and business innovation. 

Points are awarded for: 

  • age 
  • English language ability 
  • qualifications 
  • experience in business or investment 
  • net personal and business assets 
  • business turnover 
  • innovation. 

The factors indicated in the following table are used to give points. Unless otherwise stated, all considerations are evaluated at the time you are asked to apply for this visa. 


Age  18–24 years  20 
25–32 years  30 
33–39 years  25 
40–44 years  20 
45–54 years  15 
55 and older  0 
English language ability  Vocational English  5 
Proficient English  10 
Qualifications  Australian trade certificate, diploma, or bachelor degree by an Australian education institute; or bachelor qualification recognised by an educational institution of a recognised standard  5 
Bachelor degree in business, science, or technology by an Australian institution; or a bachelor qualification by an educational institution of a recognised standard  10 
Special endorsement  The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located  10 
Financial assets  Net business and personal assets of you, your partner, or you and your partner combined in each of the preceding two years of at least:   
AUD800 000  5 
AUD1.3 million  15 
AUD1.8 million  25 
AUD2.25 million  35 
Business turnover  Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:   
AUD500 000  5 
AUD1 million  15 
AUD1.5 million  25 
AUD2 million  35 
Business Innovation stream only Business experience   before you were invited to apply for the visa you have held one or more of the businesses    
Not less than four years within the preceding five years  10 
Not less than seven years within the preceding eight years  15 
Investor stream only investor experience  Eligible investment of at least AUD100 000 held for:   
At least four years before the time of invitation to apply for the visa  10 
At least seven years before the time of invitation to apply for the visa  15 
Business innovation qualifications at the time of invitation to apply for the visa:  Evidence of registered patents or registered designs  15 
Proof of registered trademarks  10 
Proof of formal joint venture agreements  5 
Proof of export trade  15 
Proof of ownership interest in a gazelle business  10 
Proof of receipt of grants or venture capital funding  10 
State or territory nomination  Special endorsement (limited places)  10 


Business Innovation and Investment (Provisional) visa (subclass 188) Investor stream 

This visa is for those who desire to make a minimum AUD1.5 million investment in an Australian state or territory and continue to do business and invest in Australia. You must acquire state nomination support in order to submit a legitimate visa application to the Department of Immigration and Border Protection (DIBP). 


Verify your eligibility. 

Read the Department of Immigration and Border Protection’s (DIBP) visa criteria for the Business Innovation and Investment (Provisional) visa to see whether you qualify (subclass 188) 

To be considered for a visa nomination by the state of Victoria, you must meet the following criteria: 

  •  meet the conditions for this visa set forth by the Department of Immigration and Border Protection (DIBP) 
  • invest with the Victorian Treasury Corporation in a designated fund; and 
  • engage in extra commercial or investment activity 

On this page, you should also read the state nomination conditions and evaluation criteria. 

Steps to take next: 

 You can apply for a Victorian visa nomination once you’re sure you’ll be able to meet the conditions. 

 Processing of Victorian visa nominations: 

 Processing timeframes are subject to change. Applicants should expect a response within four weeks of submitting their entire visa nomination application. 

 Conditions for nomination in Victoria: 

  •  The Victorian Government’s nomination support is conditioned on the applicant’s official acceptance and acknowledgment of the following: 
  • The candidate has read (or had read to them) the details of their application and certifies that all of the information is true and correct. 
  • The candidate certifies that they meet all of the requirements for a visa from the Department of Immigration and Border Protection (DIBP). 
  • The Victorian Government may share information with the Department of Immigration and Border Protection about the application and the applicant’s business/investment activity in Victoria (DIBP).  
  • In respect to this application or connected topics, the Victorian Government reserves the right to contact the applicant directly. This could include a call from a Commissioner of a Victorian Government Business Office (VGBO) to discuss possible assistance with business or investment activity in Victoria.  
  • The Victorian government does not have the legal capacity to deal with visa issues and will not represent the applicant before the Department of Immigration and Border Protection (DIBP) or the Migration Review Tribunal. 
  • Any changes in the applicant’s contact information will be reported to the Victorian Government, and the applicant agrees to participate in any surveys that the Victorian Government may conduct. 
  • The Victorian Government neither endorses nor accepts liability for any financial loss, cost, or expense incurred as a result of any business decision, business activities, or investments made by any person in any way connected with this application, or otherwise. 
  • The nomination of the Victorian Government is not transferable to any other Australian state or territory. 
  • The applicant has made a sincere commitment to establishing a home in Victoria.  
  • Within one month after arriving in Victoria, the applicant will contact the Victorian government. 
  • According to the terms of their visa and nomination, the candidate will live in Victoria. 
  • The applicant will make a designated investment with the Treasury Corporation of Victoria of at least A$1.5 million. 
  • The applicant will participate in ongoing business/investment activities in Victoria within 36 months of arrival, in addition to the planned investment of A$1.5 million. 

Failure to comply with the aforementioned conditions without the express written agreement of the Victorian Government may result in the loss of Victorian Government support for the applicant’s visa. 

 Criteria for evaluation: 

 When you submit for a Victorian visa nomination, you will be judged on a variety of factors. We use the criteria listed below to evaluate all applications. 


 Applicants must be under the age of 55 to be considered. 

 Residing in Victoria  

According to the visa and nomination rules, the candidate must have a real commitment to establish a residence and reside in the state of Victoria. 

Making an investment in Victoria : 

The applicant must agree to make a targeted investment with the Victorian Treasury Corporation of at least A$1.5 million. 

Purchase restrictions for Victorian Designated Investment Bonds: 

Nationals and inhabitants of the United States: 

Due to securities limitations in the United States, you may be unable to purchase Victorian Designated Investment Bonds if you are a US citizen or resident. 

Sanctions imposed against countries 

To limit commercial operations, the Australian government imposes sanctions on specific countries. You may not be allowed to buy Victorian Designated Investment Bonds if you are a national of, live in, or transmit money from a country that the Australian government has sanctioned. 

Please consult the Department of Foreign Affairs and Trade website for the most up-to-date information on sanctioned nations. 

Bond ownership and spouse swapping: 

If you and your spouse/de facto partner desire to shift positions at the permanent visa stage (subclass 888 visa) so that they become the lead visa applicant, this may not be possible if the bonds were not held jointly. Please keep this in mind while buying Victorian Designated Investment Bonds, and get independent advice if you have any questions.

Visa 188 – Business Innovation and Investment (Provisional) 

Investor Stream 

This visa is for persons who have a proven track record of successfully managing enterprises or financial ventures. The following are the criteria for State Nomination in Western Australia: 

  •  You have a Business Innovation and Investment Points Test score of at least 65. 
  • For one of the last five fiscal years, you have had a total of at least three years of direct engagement in managing one or more qualifying firms or eligible investments. 
  • You (or your partner, or you and your partner together) personally managed a firm in which you (or your partner, or you and your partner together) had a 10% ownership interest; OR you (or your partner, or you and your partner together) directly handled investments worth at least AUD$1,500,000.  
  • Your entire company and personal assets have a net value of at least AUD$2,250,000 in each of the previous two fiscal years.  
  • For a four-year term, you can make a Designated Investment of AUD$1,500,000 with the Western Australian Treasury Corporation. 
  • You can send an additional AUD$500,000 to cover your settlement and continuing living expenses in Western Australia. 
  • When your treasury bonds mature, you will keep your funds in Western Australia. 
  • You are under the age of 55, or you intend to engage in a company or investment activity that will provide the State with exceptional economic advantage. 

To see if you’re eligible, take the business innovation stream points exam.  

After holding the required Treasury Bonds in Western Australia for at least four years and meeting the relevant criteria, all 188 Business Innovation and Investment – Investor Stream visa holders will be eligible for permanent residence under the 888 Business Innovation and Investment visa – Investment Stream. It is not possible to apply for the 888 Business Innovation and Investment – Business Innovation Stream if you have a 188 Business Innovation and Investment – Investor Stream visa. 

 A joint government bond investment will allow either the primary or secondary applicant to meet the Subclass 888 criteria. With assets in their name, the primary applicant can meet the conditions for a Subclass 188 grant, and jointly held investments can then be the subject of a Subclass 888 application by either the primary or secondary applicant. 

Applicants for the 888 Business Innovation and Investment Permanent Visa are expected to have purchased a home in Western Australia at the time of application. 

The Business Innovation and Investment (Provisional) visa (subclass 188) is a four-year state-sponsored provisional visa.   

Through the Business Innovation and Investment (Permanent) visa, it is possible to get permanent residency (subclass 888). 

There are three types of visas available: 

  • Business Innovation stream: People who desire to own and manage a new or existing firm in Queensland should take the business innovation stream.  
  • Investor stream: for those who desire to make a specific investment in Queensland Treasury Corporation bonds while continuing to do business and invest in Queensland. 
  • Significant investor stream: for those ready to put at least AUD$5 million into complying investments. 


To be eligible for this visa, all migrants must be nominated by a state or territory administration. 

 To apply for this visa, you must meet Queensland’s nomination requirements as well as the eligibility requirements of the Australian Department of Immigration and Border Protection (DIBP). 

 Each of the three visa categories – business innovation, investor, and large investor – has its own set of requirements. 



In addition to the DIBP criteria, applicants for state nomination in Queensland must meet the following requirements: 

  • Demonstrate that you have a net worth of at least A$800,000 in the company and personal assets that may be transferred to Queensland within two years of your visa being approved, including a minimum of A$200,000 for business investment. 
  • Live in Queensland  

 Your provisional Business Innovation visa can be extended for an extra two years. 


In addition to the DIBP criteria, applicants for state nomination in Queensland must meet the following requirements: 

  •  Demonstrate that you have at least A$2.25 million in net business and personal assets that can be transferred to Queensland within two years of receiving your visa. 
  • Maintain a targeted investment in Queensland Treasury Corporation Bonds of at least $1.5 million for at least four years. 
  • Live in Queensland  

 You must apply for permanent residency when your Investor visa expires. 


Applicants seeking state nomination in Queensland must meet the following DIBP Significant Investor stream criteria: 

  •  Demonstrate that you have at least A$5 million in assets in Australia that can be transferred into complying investments. 
  • fulfill Austrade’s conforming investment frameworks and furnish BSMQ with details of your complying investment plans 
  • demonstrate a commitment to Queensland by stating a desire to live in the state and indicating additional investments 


  1.  Check to see whether you fulfill Queensland’s nomination requirements. 
  2.  Use DIBP’s SkillSelect online portal to submit an Expression of Interest (EOI). Applicants that choose ‘Queensland’ as their nominating state in SkillSelect will be given priority. 
  3.  If you meet Queensland’s eligibility requirements, Business and Skilled Migration Queensland will contact you with advice on how to complete your application by providing extra information (such as a business proposal for the Business Innovation Stream). Prior to completing your application, you must pay a non-refundable application fee. 
  4. If you are nominated by Business and Skilled Migration Queensland, you will get a letter from DIBP with instructions to submit an application within 60 days of being nominated. 


After all, documents have been submitted to BSMQ, a decision on your Queensland nomination will be made within 10 business days. 

To be eligible for a nomination in South Australia, you must: 

  •  Meet the requirements of DIBP 188 for investment streams. 
  • Plan on relocating to South Australia. 
  • Intend to put AUD$1,500,000* into SAFA bonds for a four-year period. 
  • Accept the responsibility of registering your arrival in South Australia with Immigration SA and keeping your contact information up to date for the term of your visa. 

*Applicants over the age of 55 must make a four-year investment of AUD$5,000,000 in SAFA.  

Stream of investors: 

For investors and business owners with AUD$2.25 million in transferrable assets who are willing to invest AUD$1.5 million in Tasmanian Treasury bonds for four years. They must continue to conduct business and invest in Tasmania after the initial investment has matured. Tasmanian government nominations. 

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