The Business Innovation stream is for successful businesspeople who want to establish or develop a business in Australia.
Eligibility conditions
Applicants for the Business Innovation and Investment (Provisional) visa (subclass 188) Business Innovation stream must meet several eligibility requirements for their visa to be granted. The applicant must have:
A nomination from an Australian state or territory government
Ownership in one more business for at least 2 of the previous 4 financial years, which must have had an annual turnover of at least AUD$500,000 in those years
Ownership of one of the following:
At least 51% of a business with an annual turnover of less than AUD$400,000
At least 30% of a business with an annual turnover of more than AUD$400,000
At least 10% ownership of a publicly listed company
A total of AUD$800,000 in business and/or personal assets, which must have been acquired legally and must be able to be transferred to Australia within 2 years of the visa start date. Your partner or spouse's assets count towards this sum.
If the business nominated to meet the conditions above provides services of a professional, technical, or trade nature you must have spent a maximum of 50% of your time providing those services personally, and a minimum of 50% of your time managing the business.
Applicants must normally be 55 or younger to qualify for this visa, but the age requirement can be waived at the discretion of the nominating state or territory if the proposed business will benefit the state or territory's economy greatly.
Points test
Applicants must score a minimum of 65 points on the Business Innovation and Investment (Provisional) visa (subclass 188) points test. For more information please see our Subclass 188 points system page.
Further Information, help, and advice
Workpermit.com has over twenty years of experience helping people immigrate to countries all over the World. If you feel you can meet the conditions for an Australian business or investment visa please contact us!
For more information and advice on Australian immigration law and Australian visa applications please contact us on 0344 991 9222 or at london@workpermit.com
