The 188-A Business Innovation Stream is a points-based stream that allows visa holders to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
The applicant is required to score at least 65 points on the test. Also, the applicant must be nominated by a state or territory government. Every state or territory has different requirements for the business innovation stream visa. However, you have to submit an expression of interest (EOI) from SkillSelect before lodging an application for the visa.
When you are investing your time and money to migrate to another country you must want to know about the benefits it can provide you with this process. While this stream is totally based on business activities, with this visa you are allowed to:
- Engage in a new or existing business in Australia
- Travel and stay in Australia for up to 4 years and 3 months
- To have eligible family members with you in Australia.
- apply for a permanent visa 888, if eligible.
Business Innovation Stream Requirements
To be applicable you first have to meet the basic 188 visa requirements, if you are eligible for a 188-A visa you must meet the requirements below to lodge your application for a business innovation stream visa.
- Applicant must be nominated.
- Applicant must have business ownership.
- Must meet the functional English language requirement.
- The application must own at least $800,000 AUD personal and business assets.
- Score a minimum of 65 points on the point test
- Have evidence of a successful business career
- Age must be under 55 years old.
- Applicant must not have a history of involvement in an unacceptable activity.
- An applicant has to meet the Health requirement.
- The applicant has to meet the Character requirement.
- Applicant should sign the Australian values statement.
- Must not have any previous debt to the Australian Government.
- The application should not have rejected or refused by DHA on a previous visa application.
Applicant must be nominated by a state or territory government agency before getting an invitation to lodge their visa application.
Every state or territory has its own requirement below are the states providing visas for the 188-A business innovation stream, you can follow the link below to test the requirements according to the state.
- South Australia
- Northern Territory
- New South Wales
- ACT Australian Capital Territory
- Western Australia.
You will be unable to get the 188-A visa if the state or territory government agency that has nominated you withdrawn the nomination application.
Business Ownership Requirement:
The applicant must have ownership of at least 1 or, 2 businesses that had a minimum turnover of $500,000 AUD for at least 2 years in the last 4 fiscal years.
Either you have 1 or 2 business, you must have at least 1 business with:
- 51% total value of the business if your business turnover is less than $400,000 AUD per year.
- 30% total value of the business if your business turnover is at least or more than $400,000 AUD.
- 10% total value of the business if your business is operated by the publicly listed company.
You must have provided the services rather than general management of the business if your business provides professional services, technical services, or trade services.
English Language Requirement.
The applicant must have at least a proficient English language, or you might be asked to pay the second instalment of the visa application. However, you can check the English language Requirement according to your visa.
Personal Or Business Assets Requirement:
While getting the invitation by the nomination to apply for the visa, the applicant, partner of the applicant, or applicant and partner both combined must have at least $800,000 AUD of personal or business assets.
The funds should be available to transfer to Australia within 2 years.
Points score Requirement:
The applicant has to score at least 65 points on the points test, the points are accessible for many reasons such as:
|Age||18 to 24 years||20 points|
|25 to 32 years||30 points|
|33 to 39 years||25 points|
|40 to 44 years||20 points|
|45 to 54 years||15 points|
|55 years or older||0 points|
|English Language Requirement||Vocational English (IELTS 5 bands in all components)||5 points|
|Proficient English (IELTS 7 bands in all components)||10 points|
|Qualification||Trade certification, diploma’s or bachelor degree’s by an Australian education institute; or Equivalent||5 points|
|Bachelor degree’s in business, science or technology by an Australian institution; or Equivalent.||10 points|
|Financial Assets||At least More than AUD800,000||5 points|
|At least More than AUD1.3 million||15 points|
|At least More than AUD1.8 million||25 points|
|At least More than AUD2.25 million||35 points|
|Business Turnover||At least More than AUD500,000||5 points|
|At least More than AUD1 million||15 points|
|At least More than AUD1.5 million||25 points|
|At least More than AUD2 million||35 points|
|Business Experience||Over 4 years of experience in prior 5 years.||10 points|
|Over 7 years of experience in the prior 8 years||15 points|
|Business innovation qualifications||Evidence of registered patents or registered designs||15 points|
|Evidence of registered trademarks||10 points|
|Evidence of formal joint venture agreements||5 points|
|Evidence of export trade||15 points|
|Evidence of ownership interest in a gazelle business||10 points|
|Evidence of receipt of grants or venture capital funding||10 points|
|Special endorsement||The nominating state or territory agency can decide to give you 10 points if they find your business is unique and can helpful.||10 points|
Successful Business Career:
The applicant is required to show evidence of having a successful business career and the applicant has a genuine desire to stay in Australia for business.
Applicant above 55 years of age will not receive the visa, however, if your business will have an exceptional economic benefits plan, the state or territory might send you the invitation to apply for the visa.
Unacceptable Activity History:
The Department of Home Affairs will not grant you the visa if you or your partner have a previous history of having any kind of involvement in an unacceptable activity.
The applicant and their partner applying for the Australian visa must meet the health requirement, your family member might also have to prove evidence of health requirement if The Department of Home Affairs requires.
The applicant and their partner, and the family members above 16 years of age applying for the business innovation stream have to provide evidence of character requirement, family members who are not applying might also require to prove the character evidence.
Australian Values Statement:
The applicant and family members who applied for the 188-A business innovation stream are 18 years of age or older at the time of lodging the application, the applicants must have read or had explained to you the Life in Australia book. And sign the Australian values Statement to confirm you will obey the Australian laws and respect the Australian way of life.
Have No Debt to the Australian Government.
If the applicant or family member of the applicant owes the Australian government, the debt must be paid or have an agreement before lodging your application or else the application will get rejected.
Cancelled or Rejected Visa:
The applicant might not be eligible if they have previously get rejected or refused the visa by the Department of Home Affairs.
Processing Time for 188-A Business Innovation Stream
The time it takes to process your application may vary case-by-case, There are not any standard processing time available for the business innovation stream. However, your application may get delayed if:
- If the applicant does not complete the form correctly.
- If the applicant did not include all the required documents.
- If the department of home affairs requires more information from you.
- If it takes a longer time for DHA to verify your information.