The Business Innovation Stream is for people who want to establish, develop and manage a new or existing business in Australia.
Applicant/s must be nominated by a state or territory government.
This is a temporary visa. Once you have maintained an investment in Australia, you can apply for permanent residency through the Business Innovation & Investment (Residence) visa (Subclass 888).
- Under the age of 55 years of age, unless the state and territory government waive this requirement (you must show that your proposed complying entrepreneur activity will be of “exceptional economic” benefit to the nominating state or territory)
- Score at least 65 on the points test
- Immediately before you apply, you have an ownership of a business with a turnover of at least AUD500,000 for at least 2 years out of the four fiscal years
- Own at least one of the following percentage of your nominated main business:
- 51%, if the business has a turnover of less than AUD400 000 per year
- 30%, if the business has a turnover of AUD400 000 or more per year
- 10%, 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 AUD800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
Business and Investment visas are extremely complex and have extensive requirements. If you are not sure whether you will meet the requirements, we can assist you.
You can book a consultation with our Immigration Lawyers and Migration Agents to discuss your eligibility and options.
The consultation will allow us to gather facts about your situation, and your priorities to customise a unique visa and migration pathway that may be available to you.