BUSINESS INNOVATION STREAM

 

Business Innovation (Provisional) Visa

(Subclass 188A)

 

 

 

The Business Innovation Stream is intended for business owners and investors who have had a proven history in successful business ownership and management over an extended period of time. Visas granted under the Business Innovation stream allow visa holders to set up or take over qualifying Australian business (or businesses) and prove to the Australian government that you are able to establish and manage a successful business/businesses Australia.


The Business Innovation stream has a number of minimum requirements and it must be noted that merely satisfying the minimum requirements in not in itself sufficient to obtain this visa. You must also satisfy a Business Innovation and Investment Points Test under which you must obtain a minimum of 65 points.

The Business Innovation & Investment Points Test is found on the Department (DIBP) website here: 

https://www.border.gov.au/Trav/Visa-1/188-#

 

 

 

Once you application has been approved under a subclass 188 visa, after a period of time you can look at potentially extending your visa through a Business Innovation Extension stream visa application or obtaining permanent residence through a subclass 188 visa application. The Business Innovation Extension stream visa application is generally engaged where the subclass 188 visa holder wishes to stay in Australia for a longer period but has not yet satisfied the requirements for a permanent visa under the subclass 888. The Business Innovation Extension stream visa grants an additional period to the visa applicant and does not contain the more stringent criteria required of the subclass 888 visa.

The subclass 888 visa under the Business Innovation stream contains its own criteria and requirements that must be satisfied during the period in which the visa applicant held a subclass 188 visa in order for the applicant to meet the requirements for grant.

 

 

 

 

Business Innovation Stream 188A requirements:

 

You must:

 

  • be under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
  • score at least 65 on the points test. Please see the Points test tab on this webpage for further information.
  • for two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD 500,000 turnover in each of those years
  • own at least one of the following percentage of your nominated main business:
  • 51 per cent, if the business has a turnover of less than AUD 400,000 per year
  • 30 per cent, if the business has a turnover of AUD 400,000 or more per year
  • 10 per cent, if the business is a publicly listed company
  • have an overall successful business career
  • have a genuine desire to continuously own and maintain a management role in a business in Australia.

If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.

At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD 800,000 that 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.

 

 

 

Please feel free to contact us for a consultation so that we can better assess and service your business migration needs.

 

 

Related Business and Investment Streams:

 

 

 

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