The Business Innovation and Investment Visa (Subclass 188) is a temporary visa designed to attract individuals with proven entrepreneurial skills and significant investment capabilities, who are interested in establishing, managing, or expanding a business or investment in Australia. This visa is a pathway to permanent residency through the Business Innovation and Investment (Permanent) Visa (Subclass 888). It includes several streams, each catering to different types of business and investment interests:

• Business Innovation Stream: Designed for individuals with business skills who want to establish, develop, or manage a new or existing business in Australia. Applicants must meet specific business turnover requirements, demonstrate ownership interest, and actively participate in the day-to-day management of the business. This stream also requires a minimum personal and business net worth.

• Investor Stream: For those willing to make a substantial financial investment in Australia. Applicants must invest at least AUD 1.5 million in an Australian state or territory government bond and maintain the investment for a minimum of four years. Additionally, applicants must have a successful record of managing one or more qualifying businesses or investments.