Australia

Australian Business Innovation Stream Visa

The Australian Business Innovation Stream (Provisional) visa is a temporary business skills visa that allows successful business people to own a new or existing business in Australia.
The Australian Business Innovation Stream (Provisional) visa is valid for four (4) years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their provisional visa for at least two (2) years.

Provisional visa category

Business Innovation and Investment (subclass 188) visa

  1. The Business Innovation stream is for people who want to own and manage a new or existing business in Australia.
  2. The Investor stream is for people who want to make a designated investment in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.
  3. The Significant Investor stream is for people who are willing to invest at least AUD5 million into complying investments in Australia and want to maintain business and investment activity in Australia after the original investment has matured.

Business Innovation stream

Business Innovation stream, you must meet the following criteria:

  1. Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit
  2. Pass the business Innovation Points test with at least 65 points
  3. Ownership of a business with annual turnover of at least AUD500 000 (in one or more of your main businesses) for last 2 of the 4 fiscal years
  4. own at least one of the following percentages of that main business (or two main businesses):
    • → 51 per cent of a business with a turnover of less than AUD400 000 per annum
    • → 30 per cent of a business with a turnover of more than AUD400 000 per annum
    • → 10 per cent of a publicly-listed company
  5. have managed a business, in which you spent less than half your time on professional (such as a doctor or lawyer), technical or trade services
  6. have a genuine desire to own and maintain a management role in a business in Australia.

You (or your partner, or you and your partner combined) must also:

  1. have total assets of at least AUD800 000 that have been legally acquired and able to be legally transferred to Australia within two years of the visa being granted
  2. have an overall successful business career with no involvement in unacceptable business activities.

Investor stream

If you apply for the Investor stream, you must:

  1. Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit
  2. Pass the business Innovation Points test with at least 65 points
  3. Make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa
  4. have at least 3 years of experience of direct involvement in managing one or more qualifying businesses or eligible investments with high level of management skills.
  5. have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.

You (or your partner, or you and your partner combined) must also:

  1. have a total assets of at least AUD2.25 million for the 2 fiscal
  2. make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa
  3. be prepared to make your government-approved designated investment of AUD 1.5 million using funds you have accumulated from your
  4. direct involvement, for at least 1 of the 5 fiscal years before you are invited to apply, in one of the following activities:
    • → managing your eligible investments that total at least AUD1.5 million
    • → managing a qualifying business in which you owned at least 10 per cent of the total value of the business

"Eligible investments" for the purposes of the Investor Stream include:

  1. Infrastructure projects in Australia
  2. cash held by Australian deposit taking institutions
  3. bonds issued by the Commonwealth or a State or Territory government
  4. Bonds, equity, hybrids or other corporate debt in companies and trusts listed on an Australian stock exchange
  5. Bonds or term deposits issued by Australian financial institutions
  6. Real estate in Australia; and
  7. Australian agribusiness.

Significant Investor stream

All applicants must meet the following criteria:

  1. No Age limit
  2. Do not need to Pass the Innovation Points test
  3. Make an investment of AUD 5 million in Australian State or Territory bonds prior to grant of the visa
  4. 160 days spent in Australia in 4 years

Visa applicants must be nominated by a State or Territory government and willing to make investments of at least five million Australian dollars into

  1. Commonwealth, state or territory government bonds
  2. Australian Securities and Investment Commission (ASIC) regulated managed funds that are open to the general public and have a mandate for investing in one of the following Australian assets:
    • → infrastructure projects in Australia;
    • → cash held by Australian deposit taking institutions;
    • → bonds issued by the Commonwealth Government or a State or Territory government;
    • → bonds, equity, hybrids or other corporate debt in Australian companies and trusts listed on any Australian Stock Exchange;
    • → bonds or term deposits issued by Australian financial institutions;
    • → real estate in Australia;
    • → Australian Agribusiness; and
    • → other ASIC regulated managed funds that invest in the above list of investments.
  3. direct investment into private Australian companies not listed on any Australian stock exchange. You must obtain an ownership interest in the company. The company must:
    • → genuinely operate a qualifying business in Australia
    • → be registered with ASIC
    • → have an Australian Business Number (ABN).