Subclass 188 -Business Innovation and Investment (Provisional) Visa

Significant Investor Extension Stream You may apply to extend your provisional subclass 188 visa for a further two years, provided you meet the relevant criteria. You must hold a subclass 188 visa in the Significant Investor stream, be nominated by a State or Territory government (or Austrade), and continue to hold a complying significant investment in Australia. The minimum requirements for the Significant Investor extension stream of this visa are as follows:

At the time that you apply for this visa extension, you must:

• hold a subclass Skills Assessment visa in the Significant Investor stream, which you have held for at least three years

OR

• hold a subclass Skills Assessment visa in the NO_DATA stream (being the only visa that you have held in this stream)

NOTE: If you have already held two visas in the in the NO_DATA stream, you cannot apply for a third visa extension

You must also:

• be nominated either by an Australian State or Territory government agency, or by Austrade
• not have been involved in unacceptable business or investment activities (this requirement must also be satisfied by your spouse or de facto partner, if applicable)

NOTE: The framework that applies to your complying significant investment may require you to have maintained specific amounts in certain types of investments e.g. venture capital funds, growth private equity funds and emerging companies. If you have directly invested in an Australian proprietary company, that company must also meet certain criteria. We will provide you with further information on the specific requirements for your investment based on the date that your Significant Investor visa was granted.