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Applicants for the provisional subclass 188 visas will need to meet the pass mark of 65 in the Innovation Points Test.
Points will be available depending on which age bracket the applicant falls within. Once the applicant is 55, no points will be available for age and state or territory governments must apply for a waiver of the age limit for people aged over 55.
There is no minimum English language requirement for the new business migration subclasses. However, applicants with less than functional English will need to pay an English Language Charge before receiving their visas.
Points are available for:
People with trade qualifications, diplomas or bachelor degrees will receive 5 points. Qualifications must either be awarded by an Australian institution or recognised overseas institution.
10 points are available if the qualification is in business, science or technology.
Points are available for experience relevant to the stream being applied for - ie for the business innovation stream, work experience as a business owner would be considered relevant.
Points available for business owners are as follows:
Points are available for investors who have held eligible investments of at least AUD 100,000 prior to being invited and these are as follows:
Points will be available for net personal assets held for the last 2 financial years:
Points will be awarded for turnover in a business owned by the applicant. The turnover threshold must be met for 2 of the last 4 years prior to application:
Points can be awarded in a number of items under this factor, for instance:
State and Territory Governments can support applicants by indicating that they proposed business is of unique and important benefit to the state or territory. This results in 10 points for the visa applicant.
For more information on business migration please CONTACT US.