The Business Innovation stream is a type of visa given to businesspeople who want to establish or

develop a business or investment in Australia. Because this visa is virtually made available for
businesspeople, there has to be a strict set of rules and conditions that have to be followed when
applying for this visa and obtain eligibility. Also, businesspeople from different Australian states and
territory governments can apply for this type of visa as long as they meet the eligibility requirements.
Thus, this adds more to the imperative stringency of the guidelines for eligibility in order to protect the
interests and security of Australia.

Business Innovation stream is classified as a provisional visa under subclass 188. This means eligible
businesspeople can opt to apply for the permanent type of Business Innovation stream, which is
subclass 888. Before we delve into the permanent visa type, we need to know the eligibility
requirements of Business Innovation stream.

For Business Innovation stream visa, the eligibility requirements are provided below:

• The applicant must be nominated by an Australian state or territory government before being invited
to apply for this visa.

• The applicant’s age must be under 55 or the nominating state or territory can provide their support to
waive the age requirement;

• The applicant must meet a minimum of 65 points on the Business Innovation and Investment
(Provisional) visa (subclass 188) points test;

• If the nominated business provides services of a professional, technical, or trade nature, the applicants
must provide evidence of their involvement in their main business decisions, management and
responsibilities;

• The applicant’s business and personal assets have a net value of at least AUD800,000 which are
available for the conduct or establishment of a business in Australia and are lawfully acquired and
available for transfer to Australia within 2 years of the grant of the visa;

• Have a realistic commitment to establish or participate in a qualifying business in Australia and

maintain a substantial ownership and direct and continuous involvement in the management of that
business;
• Have business turnover of AUD500,000 for at least 2 of the 4 fiscal years immediately before the
application is made.

Once an applicant successfully meets these requirements, the possibilities for growth can be endless
and the business opportunities can be rewarding.

Sources:

www.australiamigrate.com

http://workpermit.com/immigration/australia/australian-business-innovation-stream-subclass-188-visa