Business Innovation Stream Subclass 188A
This visa is for established business owners seeking to establish business operations in Australia.
You will need to provide information specific to the Innovation visa stream. This includes showing:
You had a qualifying ownership interest in up to 2 main businesses that had an annual turnover of at least A$500,000 for at least 2 of the past 4 years immediately before you lodge your application.
You (or you and your spouse combined) have business and personal assets that have a net value of at least $A800,000 which are available for the conduct or establishment of a business in Australia and lawfully acquired. These assets must be available for transfer to Australia within two years of a 188 visa being granted.
You have not engaged in a business where the delivery of professional or trade services took up more than 50% of your time.
You have a commitment to establish or participate in a qualifying business. In addition, you are committed to maintaining a substantial ownership and a direct, continuous involvement in the management of that business.
Neither you nor your spouse have a history of involvement in business or investment activities that are of a nature not generally acceptable in Australia.
A full set of financial statements for your business for two of the four fiscal years immediately before you were invited to apply for this visa
Evidence you have participated in the day-to-day management of the business for two of the four fiscal years before you were invited to apply
The net value of your business and personal assets
AN overview of your business career and intentions in Australia
Evidence of your ownership or share of ownership of the main business
Your business registration certificate or licence for your main business
Photos of business premises and business activities
If you are looking to be nominated by a State or a Territory, some of the required business criteria can differ.
ACT State Nomination criteria includes:
Investing a minimum of $200,000 to purchase or establish a business in the ACT
A commitment to making two of the three investments while holding the visa:
Investing $200,000 to purchase or establish a business in the ACT
Investing $600,000 in personal and business assets in the ACT
Employing at least the equivalent of two full-time employees who are Australian citizens, permanent residents or New Zealand passport holders and who are not family members.
New South Wales State Nomination criteria, if you are seeking to migrate to Sydney:
For at least two of the four years immediately before the application is made, you must have had a qualifying ownership interest in up to 2 main businesses that had an annual turnover at least A$1.0million.
You (or you and your spouse combined) must have net personal and business assets of at least A$1.3 million.
Your business commitment must include at $500,000 in business investment.
Funds for settling and living expenses for at least one year
Regional New South Wales, criteria includes:
For at least two of the four years immediately before the application is made, you must have had a qualifying ownership interest in up to 2 main businesses that had an annual turnover at least A$500,000.
You (or you and your spouse combined) must have net personal and business assets of at least A$800,000.
Victoria State Nomination criteria includes:
have a genuine commitment to engage in ongoing eligible business activity that provides economic benefit to Victoria within 23 months of visa activation.
have available no less than AUD 400,000 for business activity in Victoria.
sufficient financial resources to support myself and my dependents to settle in Victoria
Genuine commitment to establish a residence and reside in Victoria.
show how their eligible business will make a contribution to the Victorian economy and that they will be responsible for the day-to-day operation and overall strategic direction of the business.
Western Australian State Nomination criteria includes:
For two of the last four fiscal years you have held an ownership interest and directly managed up to two main businesses which had a minimum turnover of AUD$500,000 in each of those years;
You have held an ownership interest in your business as follows:
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.
You, your partner, or you and your partner combined must have total net business and personal assets of at least $AUD850,000 which will be held in Western Australia within two years of visa grant;
You have not been engaged in a business where the provision of professional, technical or trade services took up more than 50 per cent of your time.