Business Innovation Stream Visa – Subclass 188

WHO IS ELIGIBLE FOR THIS VISA?

• You must be able to show you have had a successful business career.
• Specific criteria have to be met by your business in your home country in which you have had an ownership interest and have been involved in its day to day management and overall strategic direction;
• One or two of your business had a turnover of AUD750,000 for at least 2 of the 4 fiscal years immediately before the application is made.
• Whether you have 1 or 2 businesses, you must own at least:
  • 51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year
  • 30%, of the total value of the business if the business has a turnover of AUD400,000 or more per year, or
  • 10%, of the total value of the business if the business is operated by a publicly listed company
• If your business provides professional, technical or trade services, you must have spent less than half your time providing those services, rather than general management of the business.
• You, your partner, or you and your partner combined must have total net business and personal assets of at least AUD1,250,000 which are available for the conduct or establishment of a business in Australia and are lawfully acquired and available for transfer to Australia within 2 years of the grant of your visa;
• Your age must be under 55 or the nominating state or territory must provide their support to waive the age requirement if you can demonstrate that your proposed business activity in Australia is of exceptional benefit to Australia;
• Be nominated by a state or territory government in Australia before being invited to apply for this visa;
• Meet the points tested pass mark, set at 65;
• Have an overall successful business career in your home country, which will involve providing evidence of your involvement in your main business decisions, management and responsibilities;
• Have a realistic commitment to establish or participate in a qualifying business in Australia and maintain substantial ownership and direct and continuous involvement in the management of that business;
• Demonstrate a need to be resident in Australia for the purposes of establishing and maintaining a business