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


You must be nominated by an Australian State or Territory government agency or Austrade before being invited to apply for this visa.

The State or Territory government agency or Austrade that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa.

Eligibility conditions

To be granted this visa, you must make (on or after the time of application for this visa), a complying significant investment of at least AUD5 million when we invite you to, and have a genuine intention to hold that investment for at least 4 years. It must be invested in the following proportions:

  • at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies

  • at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange

  • a ‘balancing investment’ of at least AUD3 million in managed funds

The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate.

We prohibit direct investment in residential real estate. We strictly limit indirect investment in residential property through managed funds.

You must not use investments as security or collateral for a loan.

Processing Time: 14-22 months