Innovation & Investment (188)
Innovation and investment visa requires State/Territory government agency or Austrade nomination.
You must first submit an Expression of Interest (EOI) with SkillSelect, showing that you meet the relevant qualifications, including points score (where applicable).
If you meet the qualifying requirements and you are nominated by State/Territory government agency, you will be invited to apply for this two-stage visa. A four year visa will be granted in the first stage, with the option for a once-off 2 year extension.
Each State/Territory has its own nomination criteria and offers different support to business base on their respective needs. It is important to research state/territory opportunities and processes well before starting the visa process. We can assist you with state/territory nominations or comparisons to help you make an informed choice that fits you and your business.
Business Innovation stream (188)
If you have a successful business career overseas and wish to use these skills to won and manage a new or existing business in Australia in your nominated Australian state/territory, this visa may be for you:
General requirements include:
- have had a successful business career;
- show a need for you to be resident in Australia to establish or conduct the proposed business activity;
- be under 55 years of age (unless exceptional circumstances apply);
- own and maintain a major managerial role in an Australian business;
- score at least 65 points on the innovation points test;
- show that in at least two of the last four financial years your main business(es) had an annual turnover of at least AUD500,000;
- have total net business and personal assets of at least AUD800,000 (includes spouse or de facto partner) which may be legally transferred to Australia within two years of your visa being granted;
- nominated by State/Territory government agency;
Entrepreneur stream (188)
The Entrepreneur visa stream allows you to undertake a ‘complying entrepreneur activity’ that proposes to lead either to: (i) the commercialisation of a product or service in Australia, or (ii) the development of a business in Australia.
General requirements include:
- be under 55 years of age;
- have competent English;
- propose to be genuinely involved in a complying entrepreneurial activity in Australia;
- have a solid business plan for turning your innovative idea into a commercial product/service/business;
- have a legally enforceable funding agreement from an authorised third party for at least AUD200,000;
- nominated by State/Territory government agency;
Investor stream (188)
This visa is designed for investors or business owners willing to invest a minimum AUD1,500,000 in their nominating state for four years. The investment will take the form of a government security in the relevant State/Territory.
General requirements include:
- you are a successful business investor/manager/owner
- be under 55 years of age;
- score at least 65 points on the innovation points test (based on age, English, qualifications, experience, turnover, assets, etc);
- have a genuine intention to live in your nominating State/Territory for at least 2 years;
- you (and/or your spouse or de facto partner, if applicable) have eligible investments totalling AUD1.5 million OR a qualifying business where you (and/or your spouse or de facto partner, if applicable) own at least 10% of the business’ total value;
- you have a total net business and personal assets of at least AUD 2.25 million which may be legally transferred to Australia within two years of your visa being granted
Significant Investor stream (188)
The Significant Investor stream is for those who are able to invest at least AUD5 million in complying Australian investments for at least four years and who are nominated either by Austrade or an Australian State/Territory government agency.
The Significant Investor stream has NO age limit, points test or English requirements.
Premium Investor stream (188)
The Significant Investor stream is for those who are able to invest at least AUD15 million in complying Australian investments or philanthropic contributions for at least four years and who are nominated by the CEO of Austrade.
The Premium Investor stream has NO age limit, points test or English requirements.
Provision Visa Extension (2 years)
General requirements include:
- held a Innovation & Investment visa for at least 3 years;
- not held more than one Innovation & Investment visa (188); (only one extension possible)