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BUSINESS INNOVATION AND INVESTMENT (PROVISIONAL) (SUB-CLASS 188) VISA

Business Innovation and Investment (Provisional Visa) subclass 188 is point based visa that allows skilled business individuals to establish a new or develop an existing business in Australia. The visa has two streams:

BUSINESS INVESTOR STREAM

You must submit an expression of interest through skill select system and be nominated by a state or territory before being invited to apply for this visa.

BASIC REQUIREMENT

Be under 55 years of age

Score at least 65 on the points test

For 2 out of the 4 fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD 500 000 turnover in each of those years

Own at least one of the following percentage of your nominated main business:

51 per cent, if the business has a turnover of less than AUD 400 000 per year

30 per cent, if the business has a turnover of AUD 400 000 or more per year

10 per cent, if the business is a publicly listed company

Have a genuine desire to continuously own and maintain a management role in a business in Australia

At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD 800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.

This is a temporary visa and is valid for four years. Immediate family members (dependents) or partners who are included in the application are allowed to live work and study in Australia.

BUSINESS INVESTOR STREAM

Be under 55 years of age

Score at least 65 on the points test

Have a high level of management skill in relation to the eligible investment or qualifying business activity

Have at least three years' experience of direct involvement in managing one or more qualifying businesses or eligible investments

Have an overall successful record of eligible investment or qualifying business activity

Have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured

Have a genuine intention to live for at least 2 years in the state or territory in which you have made a designated investment.

You, your partner, or you and your partner combined must:

For at least one of the five fiscal years immediately before you are invited to apply, have directly managed one of the following:

A qualifying business in which you, your partner or you and your partner combined had at least 10 per cent ownership interest, or

Eligible investments owned by you, your partner or you and your partner combined of at least AUD 1.5 million

During the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD 2.25 million that are available for legal transfer to Australia within two years of the visa being granted

Make a designated investment of at least AUD 1.5 million in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue in your nominating state or territory

Have had no involvement in unacceptable activities

Income that you earn from your designated investment in Australia is subject to tax under Australian taxation law.

TESTIMONIAL