The provisional Business Innovation Visa (often referred to as SC188A) is for successful business innovators and business owners who intend to enter business in Australia and contribute to the growth of the Australian economy.
In order to get business innovation stream visa in Australia via Mygration, business owners up to the age of 55 years who have business management and ownership experience for at least 2 years or longer must use those business skills to obtain a substantial ownership interest in a new or existing business in Australia and actively participate in that business at a senior management level.
The main objective is to maximize the number of business migrants successfully engaging in business in Australia and to achieve better dispersal of the business migration intake to enable regional and low growth areas of Australia to attract business persons they need to promote regional economic development and growth.
Persons who successfully establish a business while holding the provisional Subclass 188 Innovation Visa are provided with clearer pathways to the permanent residence when meeting specific criteria from the first 3 (three) years of operation. You can lodge this visa from Australia or outside Australia.
This is a temporary or provisional visa and is points tested. Higher Points may be allocated if you can provide substantial business supporting evidence to demonstrate higher turnover, asset value, and years of business management operation.
Audited financials by an external and reputable auditor are required to support your points claims. Applicants who have operated their businesses in Hong Kong or Mainland China will need special-purpose audit reports for their application.
Additional factors which can enhance or affect your points threshold at the time of invitation include your age, English language levels, educational qualifications, innovation patents or trademarks registered, and financial venture capital funding received for your current business operations.