Business Innovation Stream
(Subclasses '188/888A')
Applicants must:
Be under 55 years of age
Have a minimum ‘functional English’ or willing to make second visa application payment
Score at least 65 on the business and innovation points test. Points test is based on:
- Age
- English Language
- Business Experience
- Net personal and business assets
- Business turnover
- Innovation
- Special endorsement
Be nominated by a relevant State/Territory government
Have business ownership of one or two businesses with at least $750K turnover in 2 out of the last 4 financial years. Ownership level:
- 51% ownership of business(es) with a turnover of less than $400K
- 30% ownership of business(es) with a turnover of greater than $400K
- 10% ownership of a publicly listed company
Have personal and business assets of at least $1.25 million
Have a successful business career, in businesses undertaking acceptable activities
Meet health and character requirements
Have paid (or made arrangements to pay) any out standing debts to the Commonwealth of Australia.
Obligations for Business Innovation stream (188A) visa holders:
188A visa holders must:
Maintain substantial ownership in a business in Australia; and
Participate in the daily operation of the company, at a senior management level.
Follow Australian workplace laws
The obligations of the business are so that it must do at least one of the following:
Employ local Australian staff
Export Australian goods/services
Develop new or improved technology
Reduce Australia’s need on importation of goods by producing these goods in Australia
Improve commercial activity and competitiveness within the Australian economy
Forge links with international markets
