The Australian Business Innovation Stream is a temporary business skills visa that allows successful business people to own a new or existing business in Australia.
The Australian Business Innovation Stream visa is valid for four (4) years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their provisional visa for at least two (2) years.
Book a consultation with one of our experienced migration agents to receive personalised advice on the right visa pathway for your situation.
Australian Business Innovation Stream Visa Basic Requirements
The Australian Business Innovation Stream is a temporary visa for successful business owners who are under the age of 55. Applicants are required to demonstrate a successful business career with significant turnover and a commitment to owning a business in Australia. Applicants are also required to submit a detailed business proposal with their visa application and demonstrate that they have sufficient assets to settle in Australia.
All applicants are required to lodge an Expression of Interest (EOI) and score at least 65 on the innovation points test.
An Expression of Interest (EOI) is to be submitted through an online system called "SkillSelect." Once an EOI is submitted, these details can be viewed by Australian employers, state and territory governments and by the Australian Government who have the ability to extend an invitation to lodge a visa application.
There is no guarantee that submitting an EOI will result in an invitation to apply for a visa. If an invitation is received, there will be a prescribed timeframe for applicants to formally lodge the visa application with the Department of Home Affairs.
Australian Business Innovation Stream Visa Entitlements
The Australian Business Innovation Stream is a temporary visa valid for up to four (4) years and permits the holder to own (or partially own) an Australian business. Immediate family members (such as partners/spouses and dependent children) included in the application are also entitled to live, work and study in Australia.
Upon satisfying certain requirements, successful applicants may apply for permanent residence under the Business Innovation and Investment Visa category which may require sponsorship from a participating State or Territory government.
GOVERNMENT FEES AND PROCESSING TIMES
|Partner Application Fee||AU$2440.00|
|Dependents Application fee||
|Processing Times||12 to 36 months|