188 | REQUIREMENTS FOR THE BUSINESS INNOVATION (PROVISIONAL) VISA
  1. Below 55 years of age – 
  2. Have:
    • An annual turnover of at least AUD 500,000 in your main business for 2 out of the last 4 years immediately before visa invitation
    • An ownership percentage in the following proportion:
      • 51% if the turnover is below AUD 400,000; or
      • 30% if the turnover is above AUD 400,000; or
      • 10% if the business is a publicly listed company
  3. Have net assets  at least AUD 800,000 (can be joint with partner)
  4. Obtain a nomination (sponsorship) by a State/Territorial Government
  5. Obtain at least 65 points on the Business Innovation Points Test below

POINTS TEST

Factor Description Points Awarded
Age 18 – 24 20
25 – 32 30
33 – 39 25
40 – 44 20
45 – 54 15
55 and older – Only if your business is of exceptional economic benefit 0
English Proficiency

(IELTS valid for 3 years)*

Vocational – IELTS 5 in each of the 4 components 5
Proficient – IELTS 7 in each of the 4 components 10
Educational Qualifications Australian trade certificate, Diploma or Bachelor degree 5
Australian Bachelor degree in Science, Business or Technology 10
Business Experience (188A only) At least 4 years 10
At least 7 years 15
Investment Experience (188B only) At least 4 years 10
At least 7 years 15
Net Business and Personal Assets AUD 800,000 5
AUD 1.3 million 15
AUD 1.8 million 25
AUD 2.25 million 35
Business Turnover AUD 500,000 5
AUD 1 million 15
AUD 1.5 million 25
AUD 2 million 35
Innovation Registered patents or designs 15
Evidence of trademark 10
Evidence of joint venture agreement 5
Evidence of export trade 15
Gazelle business 10
Evidence of receipt of grant or venture capital funding 10
State Nomination By a State or Territorial Government 10 ( investment of $200,000 – $500,000 ( depending on state)

Fees

Base Visa Application Charge

  • Primary Applicant: $5,375 ( approx)
  • Additional Applicant above 18 years of age: $2,685 ( approx)
  • Additional Applicant below 18 years of age: $1,220 ( approx)
  • Business plan: $2000(approx)

Health Examination

Per Applicant: $353

Police Check

Per Applicant: Depends on your country of residence/residences

*Please note that additional application fees need to be paid if primary and secondary applicant doesn’t have at least functional level English score.

Application Process

1

Assessment

We will check that all eligibility requirements are met and you have sufficient evidence to support your claim

2

Expression of interest (EOI)

We will indicate your intention to apply for this visa and the state you want to go to

3

State Nomination

We will need to obtain a state nomination approval before we can lodge your visa application

4

 

Visa Application

We have 60 days to lodge the visa once we received the state nomination approval

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If you need professional assistance from the best immigration lawyers in Melbourne, book a free consultation today with Flyworld Migration. Call us on 03 8783 8138 or submit an online enquiry. We will assign a solicitor to help you apply for a suitable visa so you can live out your dream of studying or working in Australia.

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