Australia Subclass 188 Visa refers to the Business Innovation and Investment (Provisional) visa, the official investor visa of the Australian Business Immigration system. The 188 subclass visa will provide Australia PR Visa for five years to the applicants and their families. The visa allows individuals to establish a new or run an existing business in Australia, make a designated investment, or participate in an entrepreneurial activity.
The processing time for the Australia 188 visa can differ depending on various factors, including the individual situations of the applicant and the volume of applications being processed by the Australian immigration department. This Australia Business Visa has different sub-categories with different processing times per the official website. However, it’s important to note that processing times can change, and it is recommended to check the current processing times on the Department of Home Affairs website or consult with a registered migration agent for the information.
Australia 188 Visa is classified into four categories:
- Business Innovation stream: You must have had business ownership for the last two years with AUD 750,000 turnover and personal and business net value of AUD 1.25 million. The average processing time for this Australia Visa will take a minimum of 15 months to process.
- Investor stream: Must have a minimum 10 percent ownership interest or investments of AUD 2.5 Million owned by you with a total net value of business and personal assets of at least AUD 2.5 million. The average processing time of the application is minimum 23 months.
- Significant Investor stream: This sub-category under Australia Subclass 188 Visa will require complying investment of at least AUD 5 million in the Australian economy in significant proportions. The average processing time will take a minimum of 14 months to process.
- Entrepreneur stream: There is no specific financial requirement, but you must have funding or access to funding to carry out entrepreneurial activities in Australia. Moreover, there is no specific average processing time, but per the trends, it might take a minimum of one year to process.