Business Innovation Visa stream
The Business Innovation Visa is valid for 4 years and 3 months allowing you and your family members to live, study and work in Australia. Application thereafter can then be made for Australian permanent residency.
Applicants for the Business Innovation Visa will be required to start a business in Australia. Applicants are required to hold overseas business assets of AUD 1 250 000 (e.g. in South Africa) and have an annual turnover of AUD 750 000 to prove their business acumen.
Visa applicants must be under 55 years of age.
Also required is a minimum of 65 points from a dedicated points table. Points are awarded for age, English language ability, educational qualifications, financial assets, business turnover, business experience and innovation.
The Business Innovation Visa require nomination from a State or Territory where the applicant intends to establish the Australian business. States and Territories are yet to open their programs or announce their criteria for nomination.