Subclass 188 — Business Innovation and Investment (Provisional)
This visa allows successful business owners to own and manage a new or existing business in Australia. In addition, this visa also allows applicants to invest in an Australian state or territory.
In order to apply for this visa, you need to be either invited to apply by the Minister of Immigration or nominated by a state or territory government.
Business Innovation Stream
Applicants must meet both the health requirements and character requirements in order to be eligible for this visa. You must also be invited by the Minister to apply for this visa. Additionally, applicants must also satisfy the requirements in the stream that is selected.
- Business Innovation Stream
- You are under the age of 55 at the time of the invitation. However, exemptions may apply if you can prove that your business will have exceptional economic benefit to the nominating state or territory.
- You must meet 65 points in the test system where the following will be evaluated: age, English language ability, qualifications, business experience, financial asset and business turnover.
- You demonstrate that there is a need to be resident in Australia to establish or conduct the proposed business activity.
- You have overall had a successful business career.
- For at least two (2) of the four (4) financial years before the time of invitation, you had an ownership interest in one or more established main businesses that had an annual turnover of at least AUD500 000 in each of those years.
- If your business provides professional, technical or trade services for at least two (2) of the four (4) financial years before the time of invitation, you were directly engaged in the management of the business for more than half your time providing those services.
- You and/or your partner must have a total net value of at least AUD800 000 which are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
- You and your partner must have had no involvement in unacceptable business or investment activities.