Subclass 188 Business Innovation and Investment visa – Business Innovation Stream
Who needs this visa?
The Business Innovation stream is for current business owners and managers who wish to establish a new business in Australia.
What are the application criteria for this visa?
Applicants are required to meet the points test requirement of at least 65 points.
You will also need to apply for a state/territory nomination depending on where you wish to live and establish your business in Australia.
Specific criteria for the Business Innovation Stream include:
- your age is below 55 years, unless a state or territory has provided a waiver because your proposed business will be of exceptional economic benefit
- in the last four years before you apply your business has achieved at least AUD 500 000 in turnover for two years
- your ownership percentage of the business meets one of the following:
- 51 per cent, if the business has a turnover of less than AUD400 000 per year
- 30 per cent, if the business has a turnover of AUD400 000 or more per year
- 10 per cent, if the business is a publicly listed company
- you and your partner’s net assets are valued at least AUD 800 000
Different states and territories may have additional criteria. You will need to check with the relevant state/territory for the additional criteria.
How do I apply for this visa?
- Submit an Expression of Interest (EOI) on SkillSelect
- Apply for state/territory nomination depending on where you plan to establish your business and live in Australia
- Receive an Invitation to Apply (ITA) once the state/territory nomination is approved
- Submit your visa application within 60 days of receiving the ITA
- Provide all supporting documents by mailing certified copies to the correct DIBP office
How can Work Visa Lawyers help?
Work Visa Lawyers will be able to assist with the EOI submission, state/territory nomination application and visa application. The Business Innovation visa application can be complex with the requirement to submit various business, financial and asset documents. We will be checking all documents and submit the necessary to ensure the case for your application is clear to the DIBP assessment officer.
In addition to the visa application Work Visa Lawyers can also provide support to the following:
- sourcing for Australian businesses to be purchased for the purposes of the visa
- setting up bank accounts in Australia to allow transfer of funds from overseas to Australia
- looking for real estate – an office for your business or home for your family
- referring logistics companies to move personal effects or business equipment
Our team of experience Immigration Lawyers and Migration Agents look forward to assisting you with your Australian visa or appeal.
Based in Adelaide South Australia, we provide Australian Immigration advice to people and businesses from all over the world.
Need something else sorted? Contact Work Visa Lawyers and we will strive to assist.