• Operate a new or existing business in Australia

• Stay in Australia for up to 5 years

• Bring eligible members of your family with you

• Apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream if certain requirements are met.

This is a provisional/temporary visa. You can stay in Australia for up to 5 years if you were invited to apply for this visa on or after 1 July 2021.

If you applied after 1 July 2015, and were invited to apply for this visa before 1 July 2021, you can stay in Australia for up to 4 years and 3 months.

If you applied before 1 July 2015, you can stay up to 4 years. The visa is granted with multiple entries.

You can leave and re-enter Australia as many times as you want while the visa is valid. The visa starts on the date it is granted.

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) in the Business Innovation stream if certain requirements are met. 

Extension stream - 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 Business Innovation Extension stream. If granted, you will be able to travel to, enter and remain in Australia for up to 7 years after the date of the grant of the original Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream.

While the holder of this visa, you must:

• Have a substantial ownership interest in a business in Australia.

• Take part in its day-to-day management, at a senior level

In the business, you must do at least one of these things:

• Add to commercial activity and competitiveness within the Australian economy

• Develop business links with international markets

• Employ people in Australia

• Export Australian goods

• Introduce new or improved technology, or

• Produce goods or services that Australia would otherwise import

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 a decision is made on your application. Family members who apply for the visa must meet health and character requirements. In order for the primary applicant to be granted the visa, family members who are not coming to Australia must meet character requirements, and might have to also meet health requirements.

This visa costs from AUD6,270 for the main applicant. 

There is also a charge for each family member who applies for the visa with the main applicant:

• Additional applicant over 18 years old: AUD3,135

• Additional applicant under 18 years old: AUD1,565

Any applicant 18 years old or older who has less than functional English must also pay an extra charge. This charge is the second instalment charge. Pay it only when the department ask you to. They will refund the charge if the visa is not granted.

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The second instalment charges are:

• Main applicant: AUD9,795

• Family members: AUD4,890

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To work out what your visa will cost use the Visa Pricing Estimator. 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 the department decides on your application, but not in immigration clearance.