MIGRATION
Subclass 188A Business Innovation Stream (Permanent)
2021-10-14 14:08:47

188A Business Innovation Stream (Provisional)

This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia

 

Eligibility

• Be under 55, unless the State or Territory government agency has determined your investment will be of exceptional economic benefit.

• You, your partner, or you and your partner combined must have total net business and personal assets of at least AUD1,250,000.

• For 2 out of 4 fiscal years immediately before you receive an invitation to apply, you must have had an ownership stake in 1 or 2 businesses that had at least AUD750,000 turnover in each of those 2 years.

• Whether you have 1 or 2 businesses, you must own at least:

(a)   51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year

(b)   30%, of the total value of the business if the business has a turnover of AUD400,000 or more per year, or

(c)   10%, of the total value of the business if the business is operated by a publicly listed company

• Score at least 65 on the points test


888A Business Innovation Stream (Permanent)

Hold a relevant stream of the subclass 188 visa or in relation to applications for a subclass 888 visa in the Business Innovation stream.

 

Eligibility

• You must have been physically present in Australia* for at least 1 year in the 2 years immediately before you apply as the holder of a:

(a)   Business Innovation and Investment (Provisional) visa Business Innovation stream

(b)   Special Category visa (SCV) (subclass 444)

(c)   Business Innovation and Investment (Provisional) visa Business Innovation Extension stream, or

(d)   in certain cases, a subclass 457 visa

• Your main business or businesses (or the business or businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together), had an annual turnover of at least AUD300,000 in the 12 months immediately before the application was made.

• For the 24 months immediately before you apply, you must own at least:

(a)   51% of the total value of a business with a turnover of less than AUD400,000 per year, or

(b)   30% of the total value of a business with a turnover of AUD400,000 or more per year, or

(c)   10% of the total value of a business that is operated by a publicly listed company

• For the 12 months immediately before you apply, you or your partner (or you and your partner together) must show at least 2 of the following:

(a)   assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia

(b)   personal and business assets in Australia of AUD600,000 net value

(c)   equivalent of at least 2 full-time eligible employees in your main business 

 

Business Innovation Extension Stream 

• You must already hold a Business Innovation and Investment (Provisional) visa (subclass 188) Innovation stream and have held it for at least three years, unless COVID-19 concessions apply.
• You must not have held more than one Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream.
• You must be able to demonstrate your business activities are of a nature that will require a substantial presence in Australia to operate your business and manage its day-to-day affairs.
• Your main business must have been operating actively in Australia for a combined period of at least 2 years while you held one or both of these visas.
• You must also continue to have an ownership interest in that main business.
• You must have maintained your commitment to stay directly involved in the day-to-day management and decision-making of the business.


*During the COVID-19 period, concession policy applies.

If meeting 888A requirement within 4 years, apply 888A

If not meeting 888A requirement, apply for 188A extension visa

 

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