188A Business Innovation Stream

Personal background

You must be under 50 years of age and have:

• a bachelor’s degree recognised as equivalent to the Australian standard, or
• In the past 10 years have at least:
  • 3 years of business experience in a NSW target sector, or
  • 5 years of business experience in a non-target sector

Personal and business assets

You must have combined net personal and business assets of:

• A$1,750,000 – Sydney
• A$1,250,000 – Regional NSW

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:

• A$1,250,000 – Sydney
• A$750,000 – Regional NSW

Points test

Your SkillSelect EOI must show a minimum score of 85 points.

Applications showing the following will be prioritised:

• 15 points for business experience, or
• Points for business innovation qualifications

Sydney target sectors include:

• Advanced manufacturing
• Food and beverage manufacturing
• Agricultural technology
• Aerospace and defence
• Renewable energy and sustainability
• Emerging digital technology
• Cyber security
• Medtech

Regional NSW target sectors include those for Sydney in addition to:

• Technology-enabled primary industries
• Critical minerals
• Recycling and waste management

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:

• increase in annual turnover of at least 10%, or
• increase in business assets of at least 25%

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.

Eligibility:

To be eligible to apply for Victorian Business Innovation stream (subclass 188A) visa nomination, you must:

• be under 55 years of age,
• have vocational English,
• have a STEMM qualification or an MBA or relevant business history in a target sector,
• have an innovative business proposal,
• have scored at least 85 points,
• be committed to meet the requirements for permanent residence, and
• meet the Department of Home Affairs requirements including minimum financial requirements.

About Target Sector:

Health, medical research, and life sciences

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.

Digital

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:

• Health / Medtech
• Digital games
• AI and analytics
• Education tech
• Robotics and automation
• Agri Tech
• Fintech
• Transport tech
• Cloud software / Saas
• Cybersecurity
• Smart cities and infrastructure tech
• Device software
• Energy and resources tech
• GPS, imaging and geospatial

Agri-food

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.

Advanced manufacturing

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.

New energy, emissions reduction and circular economy

This sector includes industries such as clean energy, renewables, bioenergy, carbon capture and energy storage. It also includes recycling and waste reduction.

• Must genuinely intend to live in Tasmania permanently and continue to contribute to Tasmania.
• Must be a successful business person and wants to invest a minimum AUD 200 000 to establish a new or purchase an existing business in Tasmania.
• Must have a demonstrated record of successful business or investment activity.
• Must have undertaken comprehensive business research and planning to demonstrate realistic understanding of the investment in the Tasmanian context.
• Proposed activity must demonstrate a genuinebenefit to Tasmania

This may include:

• Investment in key Tasmanian industry areas
  • Food and beverage production
  • Tourism
  • Aquacultureand Agriculture
  • Minerals and mining industry
  • Forestry and timber
  • Antarctic and marine science
  • Information and communications technology
  • Arts and Creative industries
• Flow on benefits to other areas of the economy
• Introduction of new skills, technology, innovations
• Creation of jobs
• Trade expansion
• Innovation
• Investment outside Greater Hobart

Requirements for property development:

• A minimum AUD 1.5 million investment leading to creation of at least 4 properties for general sale or tourism, low income or student accommodation.
• Property development must add to stock of housing available for general sale or for increasing tourism, low income, or student accommodation.
• Sale of developed property must be at arm’s-length (not to a known or related individual/business)

• Demonstrate that you have net business and personal assets of at least A$800,000 to be transferred to Queensland within 2 years of your visa being granted, including a minimum of A$200,000 for investment into a business
• Commit to living in Queensland

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.

• Visited South Australia prior to nomination application (evidence requirements are listed under ‘before you apply’.
• Intend to live in South Australia
• Intend to establish a business in South Australia that meets the permanent Department of Home Affairs 888 innovation stream criteria and state nomination requirements. Information on the proposed business in South Australia must be provided.
• Agree to register your arrival in South Australia with Immigration SA and maintain current contact details for the duration of your visa.
• The main applicant must have previously visited South Australia previously. Evidence of this will need to be provided in the State nomination application. If the main applicant cannot evidence this, the State application will be refused.

Proposed business:

• The choice of the business is based on the client’s own preference; however a business which is solely on-selling imports (including bringing product into South Australia from other States/Territories) will require substantial justification via the business plan to demonstrate the benefit to state
• It is up to the discretion of Immigration SA to approve an application to Department of Home Affairs for an extension (2 years) to their 188 visa
• Approval for a proposed business undertaking property development is still at the discretion of the Manager, Business Migration for 188 and 888 with respect to the business required to be a sufficient business undertaking and not deemed as private investor property development, even if the minimum financial requirement is met
• It is strongly recommended that applicants obtain professional legal and financial advice before investing or undertaking any business activity.

• Invest a minimum $200,000 to purchase / establish a business in the ACT.
• Plan to meet two out of the following three investment criteria while holding the Business Innovation and Investment (Provisional) (subclass 188) visa :
  • Invest at least $200,000 to purchase or establish a business in the ACT; and / or
  • Invest at least $600,000 investment in personal and business assets in the ACT; and / or
  • Employ at least the equivalent of two full-time employees who are Australian citizens, Australian permanent residents or New Zealand passport holders, and are not your family members.
• Make a personal commitment, and have sufficient personal funds, to settle in Canberra upon grant of the Business Innovation and Investment (Provisional) (subclass 188) visa – Business Innovation stream.

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

• Must propose, for any qualifying business:
  • value of total net assets to be in Western Australia: at least AUD$900,000 of which at least AUD$300,000 must be net assets in business.
  • creation of new jobs (full time equivalent) in Western Australia: at least one

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:

• transfer of new capital
• generation of new employment
• expansion of trade in Western Australian goods and/or services
• development of export markets for Western Australian products or replacement of imports
• introduction of new skills, expertise, technologies or innovations
• investment in a regional area

Proposed investment activities

Activities must benefit Australia’s Northern Territory (NT) and align with its economic goals.

Investment activities benefiting the NT can include:

• transfer of new capital
• generation of new employment
• generation of Indigenous employment
• expansion of trade in NT goods or services
• development of export markets for NT products or replacement of imports
• introduction of new skills, expertise, technologies or innovations
• investment in remote areas
• investment in a range of areas such as healthcare, education, tourism, mining and primary industries and fisheries
• have a significant flow on effect to other sectors of the economy.

Ability to deliver

You must have:

• an understanding of Australia’s Northern Territory (NT) business and investment
• genuine intentions to actively pursue business or investment in the NT
• the financial capacity and business acumen to support your activities.

You can demonstrate this by:

• having an existing business in the NT
• having a history of dealing with NT businesses
• social links to the NT, including relatives and associates
• undertaking an exploratory visit to research establishing a business in the NT
• having established a residence in the NT
• showing you have researched the business and investment environment of the NT
• showing you have an understanding of the legal and licensing framework for operating a business in the NT.