About Business Innovation
This is a two-step pathway to permanent residency. First, you apply for the four-year provisional visa - subclass 188 and later you can apply for the permanent visa - subclass 888 once you meet the required criteria.
Eligibility Criteria
To be eligible for 188 visa under the business innovation stream, you must:
- Have age less than 55 years
- Scored at least 65 on the point test
- Have a genuine desire to undertake a management role in a business in Australia
- Have total net business and personal assets of at least AUD 800,000 available for legal transfer to Australia
- Have had an ownership interest in an established business or business with AUD500000 turnover for at least 2 out of the 4 fiscal years (at the time of invitation to apply for the visa)
Extending The Stay
You can also extend your stay for another 2 years under the business innovation extension stream. However, you must:
- Hold a visa in the Business Innovation stream for at least 3 years
- Be able to demonstrate the need to extend your stay in Australia to operate a business
- Have a current nomination from a state or territory government agency
- Have actively maintained an ownership interest in the nominated business for at least 2 years
- Fulfilled commitment of being directly involved in regular management and decision-making of the business
Need assistance for Business Innovation Stream ?
Business migration can be extremely complex Even determining whether you have a good chance of qualifying can be difficult You may be able to qualify in a number of different business migration categories Check your likely eligibility for business migration Will provide you with a comprehensive preliminary assessment of your likely eligibility