188 Business Innovation and Investment Provisional visa

work-visa

The subclass Business Innovation and Investment Visa is most suitable for investors or business owners who would like to establish business operations in Australia. The visa is a temporary 4year visa. Applications can be lodged within Australia or outside of Australia however applications can only be accepted visa the online Skill Select system. Applicants applying from within Australia must hold a substantive visa or a Bridging Visa A, B or C. The visa has two main streams;

Business Innovation Stream; applicants under this stream need to have owned a business and are intending to establish operations within Australia. The Business must have a turnover of at least AUD 500 000 for at least 2 of the last 4 years. The net personal and business assets of the applicant must be a minimum of AUD 800 000.

Investor Stream; applicants under this stream must have a successful background in managing businesses or financial investments. Applicants must have a score of at least 65 on the Business Innovation and Investment Points Test and are able to make an investment in Australia of AUD 1.5million or managed a business in which the applicant held at minium of a 10% shareholding.

Eligibility

To be eligible for this visa, applicants must meet the following criterion;

  • Must be nominated by an Australian State or Territory
  • Must have received an invitation to apply via Skillselct
  • Must be under 55 years of age (exceptions apply)
  • Must have an overall successful career in business or investment.