The Business Innovation and Investor Program ('BIIP') provides residence pathways to individuals with significant business talent skills or those with funds available for investment into Australia. The BIIP program enables entrepreneurs and investors to invest, or engage in business activities in Australia for the benefit of the Australian economy.

The BIIP program caters for business persons who are:

• Owners, including part-owners of a business or businesses;
• Senior executives who will use their business skills to obtain a substantial ownership interest in a business in Australia and actively participate in that business at a senior management level; or
• Persons with a substantial business or investment background and are willing to invest in a designated investment in Australia.

The BIIP program comprises two key subclasses, the Subclass 188 Business Innovation and Investment (Provisional) visa and the Subclass 888 Business Innovation and Investment (Permanent). Applicants need to be nominated by a State or Territory Government (or Austrade) at both the provisional and the permanent visa stages. The BIIP program contains the following visa streams within the provisional pathway to permanent residence.

Subclass 188 Business Innovation Stream

This stream is for persons with a successful business history and a genuine and realistic commitment to be involved in a new, or existing business in Australia. It allows the visa holder to operate a new or existing business in Australia.

An applicant may be eligible for a Subclass 188 Business Innovation Stream visawhere:

• Under the age of 55 years (limited exceptions apply);
• Scoring at least 65 points on the points test;
• Maintaining an ownership interest in an established business with at least AUD$750,000 turnover per year in two out of the four fiscal years immediately before application;
• Holding at least one of the following equity amounts in the main business being nominated:
• 51% where business has a turnover of less than AUD$400,000 per year;
• 30% where business has a turnover of AUD$400,000 or more per year;
• 10% where business is a publicly listed company;
• Demonstrating an overall successful business career;
• Having a genuine desire to continuously own and maintain a management role in the Australian business;
• Nominating a business providing professional, technical or trade services, the applicant must have spent no more than half their time providing those services compared to business management;
• Having total net business and personal assets of at least AUD$1,250,000 at the time of invitation which is lawfully acquired and available for transfer to Australia within two years of visa grant;
• Having no involvement in unacceptable business or investment activities;
• Meeting relevant Public Interest Criteria.

Subclass 188 Investor Stream

This stream is for people with a successful record of having managed a qualifying business or eligible investment activity who will make a designated investment in a State or Territory of Australia and who have a realistic commitment to continue their business or investment activity in Australia following the investment maturity. This stream requires investment of at least AUD$2.5 million in complying investments and maintenance of business or investment activity in Australia.

An applicant may be eligible for a Subclass 188 Investor Stream visawhere:

• Under the age of 55 years (limited exceptions apply);
• Scoring at least 65 points on the points test;
• Having high level of management skill in relation to the qualifying business activity or the eligible investment;
• Having a minimum of 3 years' experience of direct involvement in managing one or more qualifying businesses or eligible investments;
• Having a successful record of eligible investment or qualifying business activity;
• Having a genuine and realistic commitment to continuing the business and investment activity in Australia after maturity of the original investment;
• Having a genuine intention to live for at least 2 years in the State or Territory in which the designated investment is made;
• The applicant or their partner (or both combined) must for at least one year within the five fiscal years immediately before receiving an invitation to apply have directly managed one of the following:
• A qualifying business where the applicant and / or their partner jointly or severally had ownership interest of at least 10%; or
• Eligible investments owned by the applicant and / or their partner jointly or severally to the value of at least AUD$1.5 million;
• During the two fiscal years immediately before invitation to apply have legally acquired net business, investment and personal assets of at least AUD$2.5 million available for legal transfer to Australia within two years of the date of visa grant;
• Making a complying investment of at least AUD$2.5 million and intending to hold that investment for at least 3 years in the nominating State or Territory in Australia;
• Having no history of involvement in unacceptable business activities;
• Meeting relevant Public Interest Criteria.

Subclass 188 Significant Investor stream

This stream is for people who are willing to invest at least AUD$5 million into complying investments in Australia and who intend to maintain business and investment activity in Australia after maturity of the original investment.

An applicant may be eligible for a Subclass 188 Significant Investor stream visawhere:

• Nominated by a State or Territory government agency or the CEO of Austrade;
• Invited to apply for the visa following a expression of interest;
• Having made complying significant investment(s) of at least AUD$5,000,000;
• Having a genuine intention to hold the complying investment for a minimum of 4 years;
• Having a genuine and realistic commitment to reside in the nominating State or Territory;
• Having no involvement in unacceptable business or investment activities;
• Having investment funds that are unencumbered and lawfully acquired;
• Meeting relevant Public Interest Criteria.

Subclass 188 Entrepreneur stream

This stream is for people with a third-party funding agreement to undertake complying entrepreneur activity which is proposed to lead to either the development of a business in Australia or the commercialisation of a product or service in Australia.

Subclass 188 Entrepreneur Stream

An applicant may be eligible for a Subclass 188 Entrepreneur Stream visawhere:

• Under the age of 55 years (limited exceptions apply);
• Having Competent English at the time of the invitation;
• Having secured third-party funding and is undertaking or proposes to undertake a complying entrepreneurial activity with a genuine intention to undertake the complying entrepreneurial activity in Australia in accordance with the funding agreement;
• Providing a detailed business plan;
• Satisfying a nominating State or Territory Government agency that there are sufficient additional assets available for settlement;
• Meeting relevant Public Interest Criteria.

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