An overview of the different streams under the Business Innovation and Investment (Provisional) Visa subclass 188 in Australia:
1. Business Innovation Stream: This stream is for individuals with a successful business career who want to own and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government and demonstrate a successful business career with a proven track record of high-level management experience.
2. Investor Stream: This stream is for individuals who want to make a designated investment of at least AUD 1.5 million in an Australian state or territory and maintain business or investment activity in Australia. Applicants must be nominated by a state or territory government, score at least 65 on the points test, have net business, investment and personal assets of at least AUD2.5 million and demonstrate a genuine intention to invest in Australia.
3. Significant Investor Stream: This stream is for individuals willing to invest at least AUD 5 million into complying significant investments in Australia and maintain business or investment activity in Australia. Complying investments include specific types of investments in Australian securities, eligible managed funds, and direct investments into Australian proprietary companies.
4. Premium Investor Stream: This stream is for individuals willing to invest at least AUD 15 million into complying premium investments in Australia and maintain business or investment activity in Australia. Complying premium investments include investments in Australian securities, eligible managed funds, and direct investments into Australian proprietary companies.
5. Entrepreneur Stream: To be eligible, the applicant must be nominated by a State or Territory government agency and receive an invitation to apply. Applicants must also demonstrate a genuine intention to continue the business activity in Australia and have competent English.
Each stream has specific eligibility criteria and requirements, and applicants must meet these criteria to be considered for the visa. Additionally, applicants must also satisfy health and character requirements and demonstrate a genuine commitment to complying with Australian laws and regulations.
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