Business Innovation

The Business Talent Visa (Subclass 132) is a permanent resident visa for those who are willing to establish or develop a new or existing business in Australia. It requires the applicants to have sufficient funds and genuine intention to reside in a particular Australian state or territory.

Eligibility Criteria

To be eligible for 188 visa under the business innovation stream, you must

  • Have age less than 55 years
  • Scored at least 65 on the point test
  • Have a genuine desire to undertake a management role in a business in Australia
  • Have total net business and personal assets of at least AUD 800,000 available for legal transfer to Australia
  • Have had ownership interest in an established business or business with AUD500000 turnover for at least 2 out of the 4 fiscal years (at the time of invitation to apply for visa)
  • Own at least either of the following percentage of nominated main business:
    • 51% if the business has a turnover of less than AUD 400,000 per year
    • 30% if the business has a turnover of AUD 400,000 or more
    • 10% if the business is a publicly listed company
Obligations After Entering in Australia
  • Maintain a substantial ownership interest into an Australian business
  • Take charge, at senior level, in daily management and decision making of business

Must be responsible for any of the following things

  • Introducing new or enhanced technology
  • Maintain employment in Australia
  • Develop associations with international markets
  • Export Australian goods
  • Produce goods or services
  • Make contribution in commercial activity or competitiveness within the Australian economy
Extending The Stay

You can also extend your stay for another 2 years under the business innovation extension stream. However, you must

  • Hold a visa in the Business Innovation stream for at least 3 years
  • Be able to demonstrate the need to extend your stay in Australia to operate a business
  • Have a current nomination from a state or territory government agency
  • Have actively maintained an ownership interest in the nominated business for at least 2 years
  • Fulfilled commitment of being directly involved in regular management and decision-making of the business

Seeking comprehensive assessment of your eligibility to apply for the visa under this stream, give us a buzz today to know the best way of proceeding with your application.

States / Territories

AU-WA

Fees: $750

Processing Time: Relatively quick

Preferred Industries:

  • Commit a significant amount of new capital investment;
  • Generate skilled employment or a large number of new jobs;
  • Develop export markets or replace imports;
  • Introduce new skills, expertise, technologies or innovations;
  • Locate the business activity in a regional area; and
  • Have a significant flow on effect to other sectors of the economy

Restricted Industries:

  • Residential estate
  • Labour Hire
  • Purchasing of existing
    business or franchise
AU-NT

Fees: No Fees

Processing Time: Relatively quick

Preferred Industries: Of direct economical benefit to local state/territory via entrepreneurial activity (entrepreneurial streams only)

Restricted Industries:

  • Residential estate
  • Labour Hire
  • Purchasing of existing business or franchise
AU-SA

Fees: $500-$750

Processing Time: Relatively quick

Preferred Industries: Of direct economical benefit to local state/territory via entrepreneurial activity (entrepreneurial streams only)

Restricted Industries: On-selling imports (obtaining goods from other states to sell in SA)

AU-QLD

Fees: $550-$750

Processing Time: Relatively quick

Preferred Industries: Of direct economical benefit to local state/territory via entrepreneurial activity (entrepreneurial streams only)

Restricted Industries:

  • Residential estate
  • Labour Hire
  • Purchasing of existing business or franchise

AU-NSW

Fees: $820-$1270 + GST

Processing Time: 1-4 Weeks

Preferred Industries: Of direct economical benefit to local state/territory via entrepreneurial activity (entrepreneurial streams only)

Restricted Industries:

  • Small scale property development
  • Small scale freight forwarding and warehousing
  • Commodity and scrap metal export
  • Passive investment

AU-ACT

Fees: $600-$1100

Processing Time: 4 Weeks

Preferred Industries: Of direct economical benefit to local state/territory via entrepreneurial activity (entrepreneurial streams only)

Restricted Industries:

  • Residential estate
  • Labour Hire
  • Purchasing of existing
    business or franchise

AU-VIC

Fees: No Fees

Processing Time: 4 Weeks

Preferred Industries: Of direct economical benefit to local state/territory via entrepreneurial activity (entrepreneurial streams only)

Restricted Industries:

  • Small scale property development
  • Small scale freight forwarding and warehousing
  • Commodity and scrap metal export
  • Passive investment

AU-TCA

Fees: No Fees

Processing Time: Relatively quick, but must meet with Migration Tasmania first

Preferred Industries:

  • Aquacultural
  • Agricultural
  • Minerals and Mining Industry
  • Forestry and Timber
  • Antarctic and Marine Science
  • Information and Communications Technology
  • Creative Industry

Restricted Industries:

  • Residential estate
  • Labour Hire
  • Purchasing of existing business or franchise