Applicants for this visa (except for applicants in the Extension streams) must first submit an Expression of Interest with DIBP online, and wait for an invitation before they can formally apply. Once they receive an invitation, they have 2 months within which to make a visa application. If the person does not take up the invitation to apply within the 2 month period, the invitation will be withdrawn. The invitation will identify which particular stream the applicant is to apply under.
The visa application (including the Extension streams) must be supported by a nomination by a prescribed authority (either a State/Territory government or Austrade), and the nomination has not been withdrawn. All visa applications must be lodged online.
You must score at least 65 points (the pass mark) in the points test to be eligible to apply for a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Investor stream.
The test gives points for various elements of human capital and business innovation and includes objective measures of business performance.
Points are awarded for:
Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
Business Innovation stream: experience of
For the Business Innovation stream, this component of the points test gives points for evidence of the following attributes at the time you are invited to apply for this visa. You can be awarded points for more than one attribute, but only once for each of them.
This provisional visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream extend their stay in Australia for 2 more years.
If you and your family members who have applied for this visa are 18 years of age or older at the time of application, you and your family members must:
While the holder of this visa, you must:
In the business, you must do at least one of these things:
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