Business Innovation and Investment (Provisional) (subclass 188) visa
This visa has two streams.
- The Business Innovation stream – for people who want to own and manage a new or existing business in Australia.
- The Investor stream – for people who want to make an investment in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.
To be eligible to apply for either stream, an applicant must fulfil certain requirements.
Applications are by invitation only. To be invited lodge an application, a person must first lodge an Expression of Interest (EOI) with the SkillSelect system and be nominated by a state or territory government. The main requirements are:
- Be less than 55 years of age.
- Have a successful business or investment history.
- Have the required personal and business assets.
- Score at least 65 points on the innovation points test.
Innovation test points are awarded for:
- English language ability.
- Experience in business or investments.
- Net personal and business assets.
- Business turnover.
There are other requirements that mainly depend on whether you apply for the Business Innovation stream or the Investor stream.
Business Innovation and Investment (Permanent) (subclass 888) visa
This is a permanent visa with two streams:
- Business Innovation stream – designed for people who own and manage a business in Australia
- Investor stream – designed for people who have a designated investment in an Australian state or territory and want to maintain business or investment activity in Australia after the original investment has matured.
To be eligible to apply for the Permanent Business Visa an applicant must meet the following requirements:
- Already hold a provisional Business Innovation and Investment visa.
- Have met the requirements of that visa (including the specific requirements for the stream in which they first applied).
- Are nominated by a state or territory.