Business Innovation and Investment (Provisional)
In order to qualify for this four-year visa that can pave the way for permanent residency an applicant must meet the following criteria:
- be less than 55 years old,
- have owned and managed a business,
- be sponsored by a State or Territory government,
- attain a passmark of 65 points in a points test. Points can be awarded for age, qualifications, business or investment experience, net personal and business assets, turnover, English language ability, innovation and special state/territory endorsement.
In addition, the applicant must meet the requirements of one of the two streams within this category: the Business Innovation Stream and the Business Investment Stream.
Business Innovation Stream
- Net assets of at least AUD 800,000 available for transfer to Australia within two years of the visa grant and you must also meet the following business criteria:
- Turnover of at least AUD 500,000 in one of more of the applicant’s businesses in two of the last four years immediately before applying,
- Business ownership requirements:
- 51% ownership of a business with turnover of less than AUD 400,000, or
- 30% ownership of a business with turnover of more than AUD 400,000, or
- 10% ownership of a publicly-listed company.
This visa allows for an application for permanent residence at a later stage.
- The applicant must have held net assets of at least AUD 2.25 million for the two fiscal years immediately before applying.
- Meet one of the following criteria:
- Direct involvement in at least one of the five fiscal years before applying in managing the applicant’s own eligible investments of at least AUD 1. 5 million, or
- Direct involvement for at least one of the five fiscal years before applying in managing a qualifying business in which the applicant has held at least a 10% interest.