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.

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