This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.
With this visa, you can
- carry out investment activity in Australia
- stay in Australia for up to 4 years and 3 months
- bring eligible members of your family with you
- apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met
How long you can stay
This is a provisional visa. You can stay in Australia for 4 years and 3 months. If you applied for this visa prior to to July 2015, you can stay in Australia for 4 years.
The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid.
The visa starts on the date we grant it.
This is a provisional visa. You must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream, if certain requirements are met. Explore your visa options.
If you applied for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream prior to 1 July 2015, You will be eligible to apply for a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream after 3 years and 11 months.
If you need more time to apply for permanent residence, you can apply for a new Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream.
If granted, you will be able to travel to, enter and remain in Australia for 6 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor stream.
You can also apply for a second Significant Investor Extension stream visa. If granted, you will be able to travel to, enter and remain in Australia for 8 years after the date of the grant of the original Business Innovation and Investment
(Provisional) visa (subclass 188) in the Significant Investor stream.
You can include members of the family unit in your application when you apply. You can also add dependent children to your application at any time before we decide on your application.
In order for the main applicant to be granted the visa, family members who are not coming to Australia must meet our character requirements, and might have to meet our health requirements.
This visa costs AUD7,310 for the main applicant.
There is also a charge for each family member who applies for the visa with you.
- additional applicant over 18 years old: AUD3,655
- additional applicant under 18 years old: AUD1,830
You will have to pay the second instalment of the visa application charge for any applicant who was at least 18 years old at the time of application, and satisfies the secondary criteria for the grant of a subclass 888 visa and is assesssed as not having functional English and has not paid a second instalment of the visa application charge in relation to an application for their Business Innovation and Investment (Provisional) (subclass 188) visa. Pay it only when we ask you to. We will refund the charge if we do not grant the visa to that applicant.
The second instalment charges are:
- main applicant: AUD9,795
- family members: AUD4,890
Use the Visa pricing estimator to work out what your visa will cost. The estimator does not take into account the second instalment or other costs. You might also have to pay other costs for health checks, police certificates and biometrics.
You can be in or outside Australia when you apply for the visa and when we decide on your application, but not in immigration clearance.
You and your family members who are part of your application must comply with all visa conditions and Australian laws.
Learn more about conditions for this visa
Meet your business obligations
While the holder of this visa, you must have a genuine and realistic commitment to:
- you and/or your spouse or de facto partner must have a genuine intention to live in the State or Territory whose government agency nominated you
- continue business and investment activity in Australia after your visa ends
You must also maintain your investment for the whole of the visa period and comply with Australian workplace laws.
To be eligible for the grant of a Business Innovation and Investment (Permanent) visa (subclass 888) in the Significant Investor stream, you must also live in Australia for at least 40 days per year for the duration of your provisional visa. Or your spouse or de facto partner must live in Australia for at least 180 days per year for the duration of your provisional visa. These days do not need to be consecutive.
Maintain your investment
You must make a complying significant investment of at least AUD5 million over 4 years. You must hold complying significant investments continuously for the life of your provisional visa.
You can switch between complying significant investments if:
- you reinvest the funds you withdraw from an investment into other complying significant investments within 30 days
- the sum withdrawn is the same as, or less than, the sum reinvested irrespective of any gains and losses due to market exposures
If you reinvest funds into a complying significant investment within 30 days, we count that as holding them continuously.
If you withdraw funds from venture capital or emerging company investments, you must reinvest the funds into venture capital or emerging companies.
If you withdraw funds from the 'balancing investment' category of investments, you can reinvest them into another balancing investment, venture capital or emerging companies.
If you withdraw funds from venture capital because the venture capital investment has been realised, you must reinvest those funds. You can reinvest them in any eligible complying significant investment.
Income that you earn from your complying significant investment in Australia may be subject to tax under Australian taxation law.
Note that the rules that were in force at the time that you applied for your Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream will continue to apply for the duration of your visa. This includes any Business Innovation and Investment (Provisional) visa (subclass 188) in the Significant Investor Extension stream visas you apply for that relate to your visa.
You might want to seek independent legal advice to ensure that an investment is a ‘complying significant investment’. It is your responsibility to ensure your investment options comply with this visa's requirements.
Follow Australian workplace laws
All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.
If you operate a business in Australia, you must comply with workplace laws. The Pay and Conditions Tool (PACT) can help you with:
- pay rates
- shift calculations
- leave arrangements and notice
- redundancy entitlements
Adequate health insurance
We recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia. Insurance can help limit your financial liability.
See what we consider adequate health insurance.
Learn more about health insurance for overseas visitors.
Reciprocal healthcare agreements
Some countries have a reciprocal healthcare agreement with Australia. Find out more from the Department of Human Services about reciprocal healthcare agreements.
You can travel outside Australia and return as many times as you want while the visa is valid.
The time you spend outside Australia does not extend the visa.
Australian visas are digital.
We do not put a visa label in your passport. Instead, we link your digital visa record to your passport.