The Business Innovation stream allows people to own and manage an existing or new business.
You must:
- be under 55 years of age; however, a state or territory may waive this requirement if your business will be of exceptional economic benefit to the relevant region
- Have total annual turnover of AUD 750,000 or over in at least two of the four fiscal years immediately before you are invited to apply
- Have score of at least 65 on the points test
- Have a genuine intent to own and maintain a management role in a business in Australia
- Have one or two businesses, you must own at least:
- 51 per cent of a business with a turnover of less than AUD400,000 per year
- 30 per cent of the total value of the business with turnover of AUD400,000 or more per year, or
- 10 per cent of a publicly-listed company
Spent majority of your time in managing the business rather than spent time on providing professional, technical or trade services
You and/or your partner own total personal and business assets of at least AUD 1.25 million and able to transfer these funds within two years when the visa is granted.