UNC Migration Service

/ Australia / Biz Innovation

AUSTRALIA

Skill Select

Employer-sponsored

- TSS
- 457
- ENS
- RSMS

Skill-based

Study abroad & Migration

Biz Innovation

Investment visa

Family

- Partner Visa
- Contributory Parent Visa

Business Innovation Visa
Subclass 188

1. Submit an Expression of Interest (EOI) through SkillSelect
2. Be nominated by a state / territory government

Initial Requirements

Item	Subclass 188 innovation stream
Age	Under 55 years of age (unless you are exempt)
Points Test Score	65 (Passmark)
Net Assets (Business + Personal)	At least AU$800,000 (Partner incl.) lawfully acquired and available for legal transfer to Australia within 2 years of the visa being granted
Turnover & Business Stake	Turnover: At least AU$500,000 in each 2 years of the 4 fiscal years immediately before the visa application Stake: · 51% - Business turnover of less than AU$400,000/year · 30% - Business turnover of AU$400,000 or more/year · 10% - Business as a publicly listed company
English Language Ability	IELTS Minimum Overall 5.0
Visa Validity	4 years

Points Test

Factor	Description	Points
Age	18 – 24 years	20
	25 – 32 years	30
	33 – 39 years	25
	40 – 44 years	20
	45 – 54 years	15
	55 and older	0
English Language Ability	Vocational English (IELTS 5.0)	5
English Language Ability	Proficient English (IETLS 7.0)	10
Qualifications	Australian trade certificate, diploma or bachelor degree by an Australian education institute; or A bachelor qualification recognised by an education institution of a recognised standard	5
Qualifications	Bachelor degree in business, science or technology by an Australian institute; or A bachelor qualification by an education institute of a recognised standard	10
Financial Assets	Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
	AU$800,000	5
	AU$1.3 million	15
	AU$1.8 million	25
	AU$2.25 million	35
Business Turnover	Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
	AU$500,000	5
	AU$1 million	15
	AU$1.5 million	25
	AU$2 million	35
Special Endorsement	The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located	10
Business Experience	You have held one or more businesses before you were invited to apply for the visa for:
	Not less than four years within the preceding five years	10
	Not less than seven years within the preceding eight years	15
Business Innovation Qualifications At the time of invitation to apply for the visa:	Evidence of registered patents or registered designs	15
	Evidence of registered trademarks	10
	Evidence of formal joint venture agreements	5
	Evidence of export trade	15
	Evidence of ownership interest in a gazelle business	10
	Evidence of receipt of grants or venture capital funding	10

State / Territory Nomination Requirements

	Processing Time	Requirements
NSW	12 weeks	· Fee: AU$820 (Offshore) / AU$902 (Onshore) · Meet DIPB criteria · Must be less than 55 years of age · Business turnover for at least 2 of the 4 fiscal years immediately before the application is made: - AU$1 million (Migration to Sydney) - AU$500,000 (Migration to Regional NSW) · Net Assets (Business + Personal): - AU$1.3 million (Migration to Sydney) - AU$ 800,000 (Migration to Regional NSW); in line with DIBP criteria · Business Investment: - AU$500,000 in Sydney - AU$300,000 in Regional NSW · Removal of 'Excluded Industry Sector¹' (from 1 January 2016)
VIC	4 weeks	· A genuine commitment to remain in VIC and to engage in ongoing eligible business activity within 23 months of visa activation · No less than AU$400,000 for business activity in VIC · Meet DIBP criteria
QLD	2 weeks	· Fee: AU$500 · Investment Fund: - AU$500,000 in Brisbane and Gold Cost - AU$300,000 in regional QLD · Must be less than 55 years of age · Preferable investment in: - Agribusiness - Tourism Infrastructure, resources - Infrastructure, - Education and Training Sectors (particularly in regional QLD) · Meet DIBP criteria · Complete Business proposals based on the individual applicant's skills, experience and potential business opportunity
SA	-	· Meet DIBP criteria
WA	-	· Fee: AU$500 · An ownership interest and direct management up to 2 main businesses which had a min. turnover of AU$500,000 in each of those years · Ownership interest as follows: - 51%, when turnover is less than AU$400,000/year - 30%, when turnover is AU$400,000 or more/year - 10%, when the business is a publicly listed company · Net Assets (Business + Personal): AU$850,000 · AU$50,000 for settlement and ongoing living costs · Meet DIBP criteria
ACT	30 days	· Fee: AU$600 · AU$200,000 to establish or purchase a business in Canberra · Meet DIBP criteria
NT	-	· Meet DIBP criteria · Favourable business activities in NT: - Mining and energy - Tourism and International Education - Primary industries and fisheries / food exports
TAS	-	· Meet DIBP criteria · Must be less than 55 years of age · AU$800,000 transferable assets

¹Cafes & Restaurants, Takeaway Food Services, Retailings

Permanent (Subclass 888)

- You must have been in Australia for at least 1 year in the 2 years immediately before you apply.

Business Activity	2 years immediately before you apply	Note
Annual Turnover	· AU$300,000 and over · 51% of a business with a turnover of less than AU$400,000/year · 30% of a business with a turnover of AU$400,000 or more /year · 10% of a publicly listed company	12 months before you apply
Net Assets (Business)	AU$200,000 and over	You must achieve at least 2 of the following requirements
Net Assets (Personal)	AU$600,000 and over
Employment	Employing at least 2 full-time employees throughout the year immediately before you apply: Australian Citizens / Permanent Residents / NZ Passports Holders ※ NOT Your Family Members

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