Business Innovation and investment visa (Subclass 188): Business Innovation Extension Stream

Are you on a subclass 188 visa, but your have been unable to satisfy the requirements for subclass 888 visa?

Brief introduction

This visa lets you:

Operate a new or existing business in NSW
Travel to, enter and remain in Australia for 6 years after the date of the grant of the Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream that you held at the time of application
Bring eligible members of your family with you
Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream if certain requirements are met

In order for an Applicant to apply for the business innovation extension stream, certain requirements must be met.

Schedule 1 item 1202B(5) specifies that, for their application to be valid, Business Innovation Extension stream primary applicants:

must hold an EB188 visa granted on the basis of having satisfied Business Innovation stream primary criteria and
must have held the EB188 visa for at least 3 years’ and
must not have held more than one EB188

Age requirements

No age requirement applies. As Business Innovation Extension stream applicants must already hold an EB188 visa, they may have met the requirement to be less than 55 at the time their EB188 visa was initially granted, but be more than 55 years’ old when they apply for the Business Innovation Extension stream.  

Main business in Australia

Under 188.232, you must have had, and continue to have, an ownership interest in one or more actively operating main businesses in Australia for at least 2 years’ immediately before the application is made.

This requires the applicant to demonstrate their ownership interest in one or more main businesses throughout the 24 month period prior to application. Under the definition of main business ( regulation 1.11) you may nominate up to two main businesses for consideration in meeting the visa criteria.

The business/businesses may be a new business in Australia that the applicant has established (either in part or whole) or an existing business in Australia in which the applicant has become an owner or part-owner. The policy intention is that the 24 month period of ownership can be satisfied through consecutive ownership of businesses if a main business has not been owned for the full 24 month period. For example, the applicant may have owned “Business A" for 15 months and “Business B" for 9 months. Officers may use their judgment if there is a very short break between Business A winding up and Business B being established.