Applicant

At the time that you lodge your visa application, you must:

• have been in Australia as the holder of the one of the following visas for at least one year during the last two years:
• subclass 188 Business Innovation & Investment visa in the Business Innovation stream or the Business Innovation Extension stream (as either the primary or secondary visa holder) OR
• subclass 444 Special Category visa
• be nominated by an Australian State or Territory government agency

Australian Business

At the time that you lodge your visa application:

• you (and your spouse/de facto partner, if applicable) must have a satisfactory record of complying with Australian laws, with no involvement in unacceptable business activities
• during the last two years, you must:
  • have had (and continue to have) an ownership interest AND a direct and continuous management role in your main business (or two main businesses) in Australia
  • NOTES: Of that main business (or main two businesses), you (and your spouse/de facto partner, if applicable) must currently own (and have owned, during the last two years) at least: 
    • 51% where the turnover was less than AU$400,000 per annum
    • 30% where the turnover was AU$400,000 or more per annum
    • 10% where the business was a publicly listed company

You must NOT have acquired your ownership interest in your main business (or two main businesses) from another person who applied for (or held) a permanent subclass 888 visa or a permanent Business Skills visa (subclasses 890, 891, 892 or 893), UNLESS you and that person had a joint interest in that main business for at least one year prior to your application.

* have submitted all required Business Activity Statements (BAS) to the Australian Taxation Office

• during the last 12 months, your main business (or two main businesses combined) must have had an annual turnover of at least A$300,000

NOTE: This requirement MAY be waived by the nominating state/territory if you live and operate your business in a regional area, and there are exceptional circumstances.

• You must have obtained an Australian Business Number (ABN) for each of your main businesses

Net Assets & Employment of Australian Staff

Throughout the last 12 months, you (and/or your spouse or de facto partner, if applicable) must have met at least TWO of the following requirements:

• had (and continue to have) total net assets of at least A$200,000 in your main business(es) in Australia. These assets must have been lawfully acquired
• had (and continue to have) total net business and personal assets of at least A$600,000 in Australia. These assets must have been lawfully acquired
• employed in your main business(es) the equivalent of at least two full-time employees, who are Australian citizens, permanent residents or New Zealand passport holders. These employees must NOT be your family members

NOTE: These requirements MAY be waived by the nominating state/territory if your business satisfies the annual turnover criterium referred to on the previous page, and there are exceptional circumstances.