Business Immigration
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Business Innovation and Investment- Subclass 188 (Provisional)
You have a choice of four streams:
- Business Innovation:
Owners who want to relocate their overseas business or establish a new business in South Australia
- Business Investment:
Successful investors or business owners willing to invest a minimum AUD $1,500,000 in South Australia for four years
- Significant Investor:
People willing to benefit South Australia and invest $5 million into a complying investment for four years
- Entrepreneur
People who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialization of a product or service in Australia or the development of a business in Australia.
This provisional subclass 188 visa is part of a two-step pathway to permanent residency.
Business Innovation
To meet the South Australian nomination requirements you must:
- Meet the Department of Home Affairs 188 innovation stream criteria
- Have visited South Australia prior to the nomination application. Evidence requirements are listed under ‘before you apply’. (Applicants who have not visited SA will be refused State nomination)
- Intend to live in South Australia
- Intend to establish a business in South Australia that meets the permanent Department of Home Affairs 888 innovation stream criteria and state nomination requirements. Information on the proposed business in South Australia must be provided (Refer to 888 page for details on State requirements)
- Agree to register your arrival in South Australia with Immigration SA and maintain current contact details for the duration of your visa.
Business Investments
To meets the South Australian nomination requirements you must:
- Meet the Department of Home Affairs 188 investment stream criteria
- Intend to live in South Australia
- Intend to invest AUD$1,500,000* into South Australian Government Financing Authority (SAFA) bonds for four years
- Agree to register your arrival in South Australia with Immigration SA and maintain current contact details for the duration of your visa.
*Applicants over 55 years must invest AUD$5,000,000 into SAFA for four years.
Significant Investor
To meet the South Australian provisional nomination requirements you must:
- Meet Department of Home Affairs 188 significant investor stream criteria including invest AUD $5,000,000 for four years into any Department of Home Affairs qualifying investments
- Maintain current contact details with Immigration SA for the duration of your provisional visa.
Entrepreneur
For a nomination for the Entrepreneur stream of the 188 Provisional visas, South Australia requires you to:
- Meet all criteria outlined by the Department of Home Affairs.
- Provide the business plan that will be presented to the Department of Home Affairs as part of the state nomination application.
– Therefore, this should be the final intended version and not a draft or incomplete business plan.
– There should be evidence that the complying entrepreneur activity is, or will be, of economic benefit to South Australia. - Provide a statement outlining how you intend to maintain an ongoing relationship with the South Australian Government and with South Australia in general during the period of your subclass 188 visa.
- Show sufficient net business and personal assets either alone, or together with a spouse/de facto partner, to support your settlement in South Australia.
– This requires the same financial capacity required for South Australian general skilled migration (GSM) state nomination. See no.7, “Financial Capacity” under the GSM skilled state nomination requirements.
– For Australian international graduates, it is permissible to claim financial support from your parent(s), who will need to complete a Financial Capacity Declaration.
For the South Australian Government to maintain its support ahead of the potential permanent visa available via the subclass 888, we would ask successful visa applicants to:
- meet with Immigration SA within two months of arrival (or visa grant if an onshore applicant).
- meet with Immigration SA at least every 12 months during the course of the 188 visas. The purpose of these meetings is for the visa holder to outline their progress, and to learn where the South Australian Government may be able to assist with advice.
- have their principal place of residence in South Australia.
- have the primary physical location of their business (if applicable) in South Australia, noting that entrepreneurial activity may extend across interstate borders and internationally.
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