In order to apply for this visa, you need to be either invited to apply by a state or territory government.
188a Business Innovation Stream
- be under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
- score at least 65 on the points test. Please see the Points test tab on this webpage for further information.
- for two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500 000 turnover in each of those years
- own at least one of the following percentage of your nominated main business:
- 51 per cent, if the business has a turnover of less than AUD400 000 per year
- 30 per cent, if the business has a turnover of AUD400 000 or more per year
- 10 per cent, if the business is a publicly listed company
- have an overall successful business career
- have a genuine desire to continuously own and maintain a management role in a business in Australia.
- Meet respective State or Territory Nomination criteria
If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.
At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
You and your partner must have had no involvement in unacceptable business or investment activities.
188a Business Investor Stream
- You are under the age of 55 at the time of the invitation. However, exemptions may apply if you can prove that your business will have exceptional economic benefit to the nominating state or territory.
- You must meet 65 points in the test system where the following will be evaluated: age, English language ability, qualifications, business experience, financial asset and business turnover.
- You have a high level of management skill in relation to the eligible investment or qualifying business activity.
- You have overall had a successful record of eligible investment activity or qualifying business activity.
- You have had a total of at least three (3) years experience of direct involvement in managing one or more qualifying businesses or eligible investments.
- You have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment.
- You and/or your partner for at least one of the five fiscal years before you are invited to apply, have directly managed one of the following:
- Had an ownership interest of at least 10% of the total value of the business
- Have at least AUD1 500 000 in eligible investment owned by you.
- You and/or your partner had a net value of AUD2 250 000 in business and personal assets for the two (2) fiscal years before you are invited to apply for the visa.
- You make a designated investment of at least AUD1 500 000 in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments.
- You have had no involvement in unacceptable activities.
Significant Investor Stream
Applicants must meet both the health requirements and character requirements in order to be eligible for this visa. You must also be invited by the Minister to apply for this visa. Additionally, applicants must also satisfy the requirements in the stream that is selected.
- You make a complying investment of at least AUD5 000 000 in any of the following options, and hold that investment for at least four (4) years:
- Commonwealth, state or territory government bonds
- Cash held by Australian deposit-taking institutions
- bonds issued by the Australian Government or a State or Territory government
- bonds, equity, hybrids or other corporate debt in Australian companies and trusts listed on any Australian stock exchange
- bonds or term deposits issued by Australian financial institutions
- real property in Australia
- Australian agribusiness
- annuities issued by an Australian registered life company
- loans secured by mortgages over the investments listed above
- derivatives used for portfolio management and non-speculative purposes (which constitute no more than 20 per cent of the total value of the managed fund)
- other managed funds that invest in the investments listed above
- You have a genuine intention to reside in the State or Territory whose government agency nominated you.
- You live in Australia for at least 160 days over four years while holding your provisional visa.
- You undertake that you will not take legal actions against the Commonwealth in relation to any loss relating to the complying investment.