Business Innovation and Investment (Provisional) Visa (Subclass 188) – Business Innovation Stream (188A)

Eligibility
  1. Be invited to apply for this visa after the lodgement of EOI
  2. Be under the age of 55 or exempt from the age requirement by the state government;
  3. Score at least 65 or above;
  4. Have assets of more than AUD1.25 million;
  5. For 2 out of 4 years, have at least AUD750,000 turnover in 1 or 2 businesses(or 2 businesses together) in each of those 2 years. You must own at least 51% of the business’s ownership (if the business turnover is between AUD300,000-AUD400,000), or 30% ownership if the business turnover is AUD400,000 or more

Visa Extension (2 years): Business Innovation stream (subclass 188A) visa allows you to extend your stay in Australia for 2 years

  1. Prove that it is necessary to manage your own company in Australia;
  2. Have shares in a company operating in Australia in the past 2 years.

Migration plan after two years:

  1. Have lived in Australia for more than 12 months in the 24 months before applying for the visa;
  2. In the 12 months before applying for the visa, the turnover of the Australian business is more than AUD300,000;
  3. Have an ownership in the Australian business. You must own at least 51% of the business’s ownership if the business turnover is between AUD300,000-AUD400,000, or 30% ownership if the business turnover is AUD400,000 or more;
  4. In the 12 months before submitting the application, meet 2 of the following;
  • a) Have assets in Australia of more than AUD600,000;
  • b) Invest at least AUD200,000 in business in Australia
  • c) 2 employees
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