Duration and Conditions
This is a 5 year temporary visa. Once you have established an ownership interest in an Australian business, you can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa

Visa Criteria
The Business Innovation Stream requires you to have owned a business and to be intending to establish business operations in Australia. You will need to meet the following specific requirements:
Ownership of a business with turnover of at least AUD 750,000 for at least 2 of the last 4 fiscal years; and

• Net personal and business assets of at least AUD 1,250,000; and
• Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit; and
• Meet the pass mark in the Business Innovation and Investment Points test (currently 65)
• Have an overall successful career in business

State/Territory Nomination
This visa is only available to applicants who are nominated by an Australian State or Territory government. To be nominated, you must lodge an Expression of Interest (EOI) through the SkillSelect system.

Eligibility for Permanent Residence
To qualify for a permanent Business Innovation & Investment (Residence) Subclass 888 visa, you would need to meet the following criteria:

• Owned and operated a main business in Australia for at least 2 years immediately before you apply
• Meet an annual turnover of at least $300,000 for the last 12 months immediately before you apply
• Spend at least 12 months in Australia in the last 3 years immediately before you apply
• You and/or your partner must meet two of the following three criteria for the last 12 months:
• Assets of at least $200,000 in the business
• Net personal and business assets of at least $600,000 in Australia
• Employed at least two Australian full-time employees in your business in Australia