If you are in the Business Innovation stream, you must:
- be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the relevant region
- score at least 65 on the Innovation Points test
- have a total annual turnover of at least AUD500 000 (in one or more of your main businesses) in at least two of the four fiscal years immediately before you are invited to apply
- own at least one of the following percentages of that main business (or two main businesses):
- 51 per cent of a business with a turnover of less than AUD400 000 per annum
- 30 per cent of a business with a turnover of more than AUD400 000 per annum
- 10 per cent of a publicly-listed company
- have managed a business, in which you spent less than half your time on professional (such as a doctor or lawyer), technical or trade services
- have a genuine desire to own and maintain a management role in a business in Australia.
You (or your partner, or you and your partner combined) must also:
- have total assets of at least AUD800 000 that have been legally acquired and able to be legally transferred to Australia within two years of the visa being granted
- have an overall successful business career with no involvement in unacceptable business activities.
You can apply for this visa if:
- you have been nominated by a state of territory government
- you have received an invitation to apply for this visa.