It also serves as a first step towards becoming eligible for a permanent Business Skills visa.
To be eligible for 188 visas, you must:
Suppose you are nominated by an Australian state or territory government and want to establish or manage a new or existing business. In that case, you can apply for a visa under this stream.
If you are willing to make a designated investment of at least AUD 1.5 million in an Australian state or territory and maintain business activity in Australia, you can apply for the visa under this stream.
If you are willing to invest at least AUD 5 million into complying with significant investments in Australia and maintaining business activity in Australia, you can apply for the visa under this stream.
If you are willing to invest at least AUD 15 million into premium investments in Australia and maintain business & investment activity in Australia, you can apply for this visa under this stream.
If you have a funding agreement from a third party of at least AUD 200,000 to undertake a complying entrepreneur activity either for the commercialisation of a product or service in Australia.