Business Innovation and Investment
To qualify for the Business Innovation and Investment (Temporary) (subclass 188) visa you must be less than 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 relevant region. You must score at least 65 points on the Innovation Points test.
Points are awarded for:
- English language ability
- Experience in business or investments
- Net personal and business assets
- Business turnover
Business Innovation stream
If you apply for the Business Innovation stream, you (or your partner, or you and your partner combined) must have:
- total assets of at least AUD800 000 that have been legally acquired and can be legally transferred to Australia within two years of the visa being granted
- a total annual turnover of at least AUD500 000 (in one of more of your businesses) in at least two of the four fiscal years immediately before you are invited to apply
- owned at least:
- 51 per cent of a business with turnover of less than AUD400 000 per annum, or
- 30 per cent of a business with turnover of more than AUD400 000 per annum, or
- 10 per cent of a publicly-listed company
- an overall successful business career with no involvement in unacceptable business activities
- managed a business, in which you spent less than half your time on professional, technical or trade services
- a genuine desire to own and maintain a management role in a business in Australia.
If you apply for the Investor stream, you (or your partner, or you and your partner combined) must:
- have a net value of at least AUD2.25 million for the two fiscal years immediately before you are invited to apply
- have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities
- have a high level of management skill in relation to eligible investments and/or qualifying business activity
- have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
- make your government-approved designated investment of AUD1.5 million before a visa can be granted
- have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.
- You (or your partner, or you and your partner combined) must also have had one of the following:
- direct involvement, for at least one of the five fiscal years you are invited to apply, in managing your eligible investments that total at least AUD1.5 million, or
- direct involvement, for at least one of the five fiscal years before you are invited to apply, in managing a qualifying business in which you owned at least 10 per cent of the total value of the business.
Fulfill Business Obligations
This information explains what is required of you (and your accompanying dependent family members) after you are granted this visa to be eligible for permanent residency under the Business Innovation and Investment (Permanent) (subclass 888) visa.
Business Innovation stream
If you are in this stream, after entering Australia, you must provide valuable input to the Australian economy. You must:
- obtain and maintain substantial ownership in a business in Australia
- participate, at a senior level, in the day-to-day management of that business.
- In the business, you must also do at least one of the following:
- develop business links with international markets
- create or maintain employment in Australia
- export Australian goods
- produce goods or services that would otherwise be imported
- introduce new or improved technology
- add to commercial activity and competitiveness within sectors of the Australian economy.
The department may ask you to complete a monitoring survey about your business activities in Australia.
If you are in this stream, after entering Australia, you must maintain your designated investment for at least four years.