Go Matilda Visas has obtained the latest numbers of subclass 188 provisional business skills visa applications that are in progress and awaiting a decision.
Business skills visas are subdivided into streams:
- Business Innovation
- Significant Investor
- Premium Investor
Most applications for subclass 188 visas are made under the Business Innovation stream.
This is the pathway for successful business owners who want to migrate to Australia.
Such applicants are required to set up or acquire a business in Australia and to operate that business for at least two years before they can apply for permanent residency in Australia, with a record of compliance with Australia’s tax regulations.
The statistics we have obtained from the Department of Home Affairs following a Freedom of Information request indicate almost 14,000 applications for subclass 188 visas under the Business Innovation stream.
See the table via the web link below for the details we have obtained.
While some of these applications will be secondary applicants (spouse/partner/dependent children) there is clearly a backlog of applications.
Disappointingly the Federal Government has advised that only 1,900 places are available to business skills visa applicants for the program year ended 30 June 2024.
This is a reduction from 5,000 in the program year to 30 June 2023.
With a total number of applicants for business skills visas of nearly 20,000 if the program number is maintained the business skills visa backlog will take some 10 years to clear.