Business Innovation And Investment (Provisional) Visa Business Innovation Stream (Subclass 188)

To apply for this visa, you must lodge an Expression of Interest (“EOI”) with the Department of Immigration and Border Protection (“the DIBP”) and an application for state nomination with a state / territory government. Your EOI will be viewed by state / territory governments who may then choose to nominate you for the visa. If you are nominated, the DIBP will then issue you an invitation to apply for the visa.

Eligibility Criteria

There are separate eligibility criteria at the DIBP and state level. We will outline the DIBP eligibility criteria and the criteria of the NSW State Government. We can advise you of the eligibility criteria for other states and territories should you be interested in migrating to a different state or territory.

Department of Immigration and Border Protection

The requirements under this stream are that you:

1. must be less than 55 years of age (some exemptions apply)
2. own at least:
   • 51% of a business with annual turnover of less than AUD$400,000, or
   • 30% of a business with annual turnover of more than AUD$400,000, or
   • 10% of a publicly-listed company
3. for two out of the four fiscal years immediately before you are invited to apply, had an ownership interest in up to two main businesses that had a turnover of at least AUD$500 000 turnover in each of those years
4. or your spouse, or you and your spouse combined, have business and personal assets with a net value of at least AUD$800,000 which are available for the conduct or establishment of a business in Australia and were lawfully acquired and available for transfer to Australia within 2 years of the grant of a your visa
5. have not engaged in a business where provision of professional, technical or trade services took up more than 50% of your time
6. have an overall successful business career with no involvement in unacceptable business activities
7. have a realistic commitment to establish or participate in a qualifying business in Australia and maintain substantial ownership in such a business and have direct and continuous involvement in the management of that business
8. must demonstrate that you and any adult dependents included in your application have at least ‘functional English’, most commonly evidenced by way of an IELTS certificate with a score of 4.5 or more on all four components (if you or any family member cannot demonstrate you have functional English, there are substantial additional fees payable to the DIBP)
9. score at least 65 points on the Innovation Points Test
10. must be nominated by an Australian State or Territory government
11. In respect of the Innovation Points test, points are awarded for:
    • Age
    • English language ability
    • Qualifications
    • Years of experience in business
    • Minimum net personal and business assets of (minimum of AUD$800,000)
    • Business turnover (minimum of AUD$500,000)
    • Innovation

We can advise whether you meet the Innovation Points Test after an initial discussion with you.

NSW Government

The requirements for nomination by the NSW government are that:

1. You must demonstrate that you meet the DIBP criteria for the visa by providing sufficient documentary evidence.
2. If you are seeking to migrate to Sydney, your business(es) must have an annual turnover of at least AUD$1.0 million. If you are seeking to migrate to regional NSW, your business must have an annual turnover of at least AUD$500,000.
3. If you are seeking to migrate to Sydney, you must have net personal and business assets of at least AUD$1.3 million. If you are seeking to migrate to regional NSW, you must have net personal and business assets of at least AUD$800,000.
4. You must provide a full resume of your business career and responsibilities demonstrating a successful business career.
5. You must provide a Business Activity Overview for a profitable business in NSW. You must describe the business you intend to establish in NSW. The overview should provide sufficient details to understand what your proposed business will be, including details on why you have chosen to establish a business in NSW and the product/service you will provide.
6. Your Business Commitment must include at least AUD$300,000 in business investment if your business will be in regional NSW. Your Business Commitment must include at least AUD$500,000 in business investment if your business will be in Sydney. Investment in business must be in either: property, plant & equipment; inventory, or goodwill (if purchased).
7. You must provide evidence of the availability of funds for settling and living expenses for not less than 1 year.

If you wish to apply for this visa, please contact one of our experienced immigration lawyers.

These applications require a lot of information and documentation. We will ensure your application is structured in such a way that it is given the best prospects of success.

We offer all our prospective clients an initial meeting, during which we will thoroughly explain the law surrounding this visa to you and inform you of the process moving forward.

To organise an initial consultation with us, please contact one of our experienced immigration lawyers on (02) 9590 3987.