Business Innovation (Permanent) Visa (subclass 888)
Please see the basic requirements for a Business visa on the overview page.
The requirements for this visa are:
You must be nominated by a state government or territory
You must also meet 2 of the following 6 criteria:
The net value of your (or your and your partner’s combined) assets in the main business (or two main businesses) in Australia is at least A$200,000 throughout the 12 months immediately before you apply
The net value of your (or you and your partner’s combined) personal and business assets in Australia has been at least A$600,000 throughout the 12 months immediately before you apply
Throughout the 12 months immediately before you apply, your (or you and your partner’s) business (or two main businesses) employed at least the equivalent of two full-time employees, who must be either Australian citizens, Australian permanent residents, or New Zealand passport holders, and are not members of your family
You must own at least:
51% of your business if its annual turnover is less than A$400,000
30% of your business if its turnover is A$400,000 or more
10% where the business is a publicly listed company
You must have a successful business background
You must meet the relevant health and character requirements