Under this temporary visa, people with business skills are allowed to operate a new or existing business in Australia.
What does the Business Innovation & Investment Provisional Visa (subclass 188)
-Business Innovation Stream allow you to do?
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carry on an existing business or set up a new one
live in Australia for up to 4 years and 3 months
apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream
Eligibility for the Business Innovation & Investment Provisional Visa (subclass 188)
-Business Innovation Stream
Applicants must:
be below 55 years in age. Older applicants may be accepted by a state or territory if the applicant’s investment will be of exceptional economic benefit
have had an ownership stake in 1 or 2 businesses that had at least AUD500,000
turnover in 2 out of 4 fiscal years immediately before they receive an invitation to apply
must have a successful business career and a genuinely want to continuously own and manage a business in Australia
have total net business and personal assets of at least AUD800,000
not have been involved in business or investment activities that are unacceptable in Australia. This also applies to their partner
have functional English
meet the relevant character and health requirements
not have had a visa cancelled or refused
get at least 65 points on the points test
STAY
Up to 4 years and 3 months
PROCESSING TIME
19 to 20 months
COST
From AUD 4,985
Read about Business Innovation & Investment Permanent Visa (Subclass 888) Business Innovation Stream
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