Eligibility Criteria For Australian Business Innovation Stream Visa
The Business Innovation stream is for successful business people who want to establish or develop a business in Australia. Australia offers a wealth of business opportunities in resources and energy; digital technologies; agribusiness and food; health; and infrastructure.
Do you have business skills experience and are seeking to establish, develop, and manage a new or existing business in a specific State or Territory in Australia? If yes, then you can apply for a business innovation stream visa in Australia via https://www.mygration.com.au/business-migration/.
Conditions of eligibility
For the Business Innovation and Investment (Provisional Visa) to be granted, applicants must meet certain eligibility requirements. The applicant must possess:
- Nomination from an Australian territory or state government
- At least two of the four previous financial years must have been spent as an owner in another business, with a turnover of at least AUD$500,000 annually.
- Minimum 51% of businesses with a turnover less than AUD$400,000 annually
- Minimum 30% of a business that has an annual turnover of less than AUD$400,000
- Minimum 10% ownership in a publicly-traded company
- A total of AUD$800,000. These assets must have been legally acquired and can be transferred to Australia within two years. This sum includes the assets of your spouse or partner.
If the business you nominate meets the above conditions, it must have provided services of a technical, professional or trade nature. You must also have spent at least 50% of your time managing the company.
To be eligible for this visa, applicants must be at least 55 years old. However, the applicant can waive the age requirement at the discretion of the nominating territory or state if the proposed business is likely to benefit the economy.