If you wish to start a business in Australia, you may wish to apply for a Subclass 188 visa in the Business Innovation Stream.
Benefits of this visa:
Eligibility criteria
Personal background
You must be under 50 years of age and have:
Personal and business assets
You must have combined net personal and business assets of:
Business turnover
You must have a qualifying ownership stake in up to two businesses that have a combined annual turnover of the below amount in two of the four most recent fiscal years:
Points test
Your SkillSelect EOI must show a minimum score of 65 points.
Applications showing the following will be prioritised:
Sydney target sectors include:
Regional NSW target sectors include those for Sydney in addition to:
Business requirements
Your business plan
You must provide a business proposal that clearly describes how your business will contribute to the NSW economy and create new jobs.
Creating new jobs in NSW
You must create a minimum of two new full time equivalent jobs.
If you are purchasing an existing business
You must show growth in the business since taking over through either an:
You will have the following obligations:
Genuinely having a realistic commitment to:
In the business, you must do at least one of these things:
During your stay, the Department might survey you about your business activities in Australia.
What do I need to do to receive State/Territory Government nomination?
Each state has their own requirements, with Victoria and NSW being the most popular options. The main eligibility criteria for each State is below:
You must be under 50 years of age and have:
You must have combined net personal and business assets of:
You must have a qualifying ownership stake in up to two businesses that have a combined annual turnover of the below amount in two of the four most recent fiscal years:
Your SkillSelect EOI must show a minimum score of 65 points.
Applications showing the following will be prioritised:
Sydney target sectors include:
Regional NSW target sectors include those for Sydney in addition to:
Your business plan
You must provide a business proposal that clearly describes how your business will contribute to the NSW economy and create new jobs.
Creating new jobs in NSW
You must create a minimum of two new full time equivalent jobs.
If you are purchasing an existing business
You must show growth in the business since taking over through either an:
Business Innovation and Investment (Provisional) visa (subclass 188) – Business Innovation stream
A provisional visa for those with business skills who want to establish, develop, and manage a new or existing innovative business in Victoria.
Stay: Up to 5 years
Stay longer: 3 years after you have this visa, you can apply for permanent residence.
Cost: No fee
Nomination processing time: 20 business days
Read the Supporting information page for more information.
To be eligible to apply for Victorian Business Innovation stream (subclass 188A) visa nomination, you must:
The health sector consists of businesses providing medical services as well as those involved in related medical education, research and development.
The medical research sector includes activities such as drug development, clinical trials, health product manufacturing, medical devices and digital health.
The life sciences sector is composed of many industries such as the medical technology, biotechnology and pharmaceutical industries. Companies involved in food processing, nutraceuticals and cosmeceuticals may also be considered to form part of the life sciences sector.
The digital sector makes use of technology and innovation to drive economic growth, productivity, and competitiveness. If you operated a digital business for at least 3 years, we may consider it relevant business history. Some examples of highly regarded digital areas include:
The agri-food sector includes food research and development, innovation in developing food growth and production of food products as well as the modernisation and innovation of the agri-food sector.
An example of an agri-food business could be adopting technology and innovative packaging to improve the storage time of produce.
The advanced manufacturing sector produces high-value products, secures new global value chain connections, embraces new advances in technology such as additive manufacturing/3D printing, digital technologies, Industry 4.0 technologies, robotic and automation, and improvements in sustainability.
The advanced manufacturing sector includes industries such as defence, automotive, pharmaceuticals, medical technologies, aerospace, rolling stock, zero emission vehicles, renewable energy, advanced materials and composites, food processing, off-site and modular construction and new emerging technologies such as green hydrogen and green steel.
An example is a business that uses robotics to improve consistency of work in an automotive assembly line. Another example is a business using advanced materials to create precise blends of glass to make high strength medical devices.
This sector includes industries such as clean energy, renewables, bioenergy, carbon capture and energy storage. It also includes recycling and waste reduction.
This may include:
Requirements for property development:
Entry level businesses will not be accepted for Brisbane and Gold Coast regions, including small wine export, travel, tourism, retail and hospitality ventures. These types of businesses will only be considered for other regional areas in Queensland.
Proposed business:
Priority will be given to 132 Business Talent visa applicants. Applicants for 188 Business Innovation and Investment visas will be assessed on their economic contribution to the State rather than on their score in the points test.
Value of Business
The above commitments must be achieved at the time of State nomination application for the 888 permanent residency visa.
Contribution to economy
New applicants must demonstrate that they have submitted a realistic and feasible business proposal based on research and the condition of the Western Australian economy. In addition, they also need to show how their Western Australian business or investment activity will contribute to the State’s economy through:
Proposed investment activities
Activities must benefit Australia’s Northern Territory (NT) and align with its economic goals.
Investment activities benefiting the NT can include:
Ability to deliver
You must have:
You can demonstrate this by:
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