Business Innovation and Investment (Provisional) visa (subclass 188)
Business Innovation stream
This provisional visa (4 years) that requires you to operate a new or existing business in Australia.
To be eligible:
- Point Tested – You must score at least 65 points (based on your age, English competency, qualification, total net assets, business or investment experience, etc).
- You and/or your partner combined must have total net business and personal assets of at least AUD$800,000. Your funds must be available to transfer to Australia within 2 years from visa grant
- Your current “Qualifying Business(es)” must, for 2 out of last 4 years, have:
- Annual Business Turnover of at least AUD$500,000
- Your ownership interest in the business must be at least:
- 51%, of the total value of the business if the business has a turnover of less than AUD$400,000 per year
- 30%, of the total value of the business if the business has a turnover of AUD$400,000 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.
- Age limit of 55 y.o. (can be waived by State)
- No minimum English requirement (but have to pay higher application fee)
- You must be nominated by a State or Territory.
You may convert to a PERMANENT VISA if you have satisfied the requirements for Subclass 888A – Business Innovation stream.
- Level 3, 12 St Georges Terrace, Perth, Western Australia, 6000
- [email protected]
- +618 9328 7525