Getting an Australian business visa requires careful planning and attention to detail. The requirements for Australian business visa applications are strict, and missing even one element can delay your approval significantly.
At Jameson Law, we’ve helped countless entrepreneurs navigate this process successfully. This guide walks you through exactly what you need to know to submit a strong application for the Business Innovation and Investment Program.
What You Need to Know Before Applying?
Understanding the Four Main Visa Streams
Australia’s business visa streams target different types of entrepreneurs. The Department of Home Affairs recognises four main temporary visa streams under Subclass 188: Business Innovation, Investor, Significant Investor, and Entrepreneur.
The Business Innovation Stream suits experienced business owners. You need minimum net assets of AUD 1.25 million and must score 65 points on the points test. The Investor Stream requires a minimum AUD 2.5 million investment in complying funds.
The Significant Investor Stream (SIV) targets high-net-worth individuals and requires a minimum AUD 5 million investment. The Entrepreneur Stream requires a funding agreement to commercialise an innovative idea.
Financial Documentation Must Be Precise
Financial documentation forms the backbone of your application. You must provide certified copies of financial statements covering at least two years. The Department verifies these holdings independently via the Australian Taxation Office (ATO) or international equivalents.
State Nomination Adds Another Layer
Each state operates its own nomination criteria. You must secure state sponsorship (e.g., from Investment NSW or Live in Melbourne) before the Department can finalise your visa. Research your target state’s specific requirements early.
Turning Your Application Into Reality
Build a Business Plan That Demonstrates Genuine Intent
Your business plan must demonstrate genuine intent to operate a substantial business in Australia. The Department expects a comprehensive document covering market research and financial projections. This is not a brief summary—prepare detailed analysis specific to your Australian state.
Submit Your Application With Meticulous Attention
Lodge your Expression of Interest (EOI) through SkillSelect first. Once invited, use ImmiAccount to submit your complete application. Attach every document in the exact format specified—certified copies for financial records and original police certificates.
Maintain Active Communication
Processing times for the 188 visa can be lengthy. Maintain direct communication with the Department through ImmiAccount. Respond to any requests for information immediately. Delays in health or character checks can push back your visa grant date substantially.
Mistakes That Derail Applications
Documentation Errors Trigger Rejections
Documentation errors represent the single largest reason applications fail. The Department cross-references financial statements against tax returns. Any discrepancy triggers a request for information. Ensure your migration agent audits every document before submission.
Financial Thresholds Require Precise Understanding
Financial threshold miscalculations destroy applications. The Investor Stream requires funds placed in compliant investments—not just cash in a bank. The Department explicitly excludes owner-occupied property from certain investment threshold calculations.
Character and Health Issues Demand Disclosure
Character and health issues must be disclosed upfront. Obtain a National Police Check and overseas clearances early. Failing to disclose a minor criminal conviction can trigger an automatic investigation.
Final Thoughts
Meeting the requirements for Australian business visa applications demands precision. You must identify your visa stream, verify financial thresholds, and secure state nomination. The most successful applicants treat their business plan as a substantive document.
We at Jameson Law specialise in immigration law and can guide you through this complex process. Contact Jameson Law to discuss your visa application and ensure your path to Australian business ownership succeeds.
