​Business Innovation stream

This temporary visa is for people with business skills. It lets you operate a new or existing business in Australia. It provides up to 4 years 3 months

• You must operate a new or existing business in Australia.
• You can stay in Australia for up to 4 years and 3 months.
• You must first be nominated by an Australian state or territory government.

you MUST

• score at least 65 on the points test 
• provide proof  of your business success (annual turnover, ownership stake)
• have total net business and personal assets of at least AUD800,000
• Meet heath and character requirements

 you can

• operate a new or existing business in Australia
• stay in Australia for up to 4 years and 3 months
• bring members of your family with you
• apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream
• apply in or out of the country
• travel oo and from australia as many times as you like

STAY LONGER
Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Business Innovation stream.

If you need more time to apply for permanent residence, you can apply to extend this visa for an extra 2 years. You can only extend it once.

INCLUDE FAMILY 
You can include members of the family unit in the application.  You can also add children to your application at any time before  a decision is made.

GOVERNMENT FEES & COSTS
This visa costs AUD $4,985.
There is also a charge for each family member who applies for the visa with you:

• additional applicant over 18 years old: AUD $2,495
• additional applicant under 18 years old: AUD $1,245

You might have to pay an extra charge for any applicant 18 years old or older who has less than functional English. This charge is the second installment. This language charge is only paid if requested and is refunded if the visa is not granted. 
The second installment Government Charges are:

• main applicant: AUD$9795
• family members: AUD$4890

You might also have to pay other costs for health checks, police certificates and bio-metrics. 


PROCESSING TIMES
12- 19 months

BUSINESS OBLIGATIONS

There is certain business obligations. While in Australia you must:

• have a substantial ownership stake in a business in Australia
• take part in its day-to-day management, at a senior level

In the business, you must do at least one of these things:

• add to commercial activity and competitiveness within the Australian economy
• develop business links with international markets
• employ people in Australia
• export Australian goods
• introduce new or improved technology, or
• produce goods or services that Australia would otherwise import
• comply with workplace laws 

HEALTH INSURANCE
It is recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia.

RECIPROCAL HEALTHCARE AGREEMENTS
Some countries have a reciprocal healthcare agreement with Australia. Find out more from the Department of Human Services  - reciprocal healthcare agreements.