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. This 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

Streams:

• Business Innovation Stream: For people who want to own and manage a new or existing business in Australia.
• Investor Stream: 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.
• Significant Investor Stream: For people who are willing to invest at least AUD 5 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

To qualify for the Business Innovation Stream, you must meet the following criteria:

• Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit.
• Pass the business innovation points test with at least 65 points.
• Ownership of a business with an annual turnover of at least AUD 1,200,000 (in one or more of your main businesses) for the last 2 of the 4 fiscal years.
• Own at least one of the following percentages of that main business (or two main businesses):
  • 51% of a business with a turnover of less than AUD 400,000 per annum
  • 30% of a business with a turnover of more than AUD 400,000 per annum
  • 10% of a publicly-listed company
• 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.
• 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:

• Have total assets of at least AUD 800,000 that have been legally acquired and able to be legally transferred to Australia within two years of the visa being granted.
• Have an overall successful business career with no involvement in unacceptable business activities.

Investor Stream

If you apply for the Investor Stream, you must:

• Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit.
• Pass the business innovation points test with at least 65 points.
• Make an investment of AUD 1.5 million in Australian State or Territory bonds prior to grant of the visa.
• Have at least 3 years of experience of direct involvement in managing one or more qualifying businesses or eligible investments with high levels of management skills.
• 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:

• Have total assets of at least AUD 2.25 million for the 2 fiscal years.
• Be prepared to make your government-approved designated investment of AUD 1.5 million using funds you have accumulated from your 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 AUD 1.5 million
  • Managing a qualifying business in which you owned at least 10% of the total value of the business

Eligible investments for the purposes of the Investor Stream include:

• Infrastructure projects in Australia
• Cash held by Australian deposit-taking institutions
• Bonds issued by the Commonwealth or a State or Territory government
• Bonds, equity, hybrids, or other corporate debt in companies and trusts listed on an Australian stock exchange
• Bonds or term deposits issued by Australian financial institutions
• Real estate in Australia
• Australian agribusiness

Significant Investor Stream

All applicants must meet the following criteria:

• No age limit
• Do not need to pass the Innovation Points test
• Make an investment of AUD 5 million in Australian State or Territory bonds prior to grant of the visa
• Spend 160 days in Australia over 4 years
• Visa applicants must be nominated by a State or Territory government and willing to make investments of at least AUD 5 million into:
  • Commonwealth, state, or territory government bonds
  • 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
    • Other ASIC regulated managed funds that invest in the above list of investments
  • 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)