Subclass 188

Business Innovation Stream: Detailed Requirements

The Subclass 188 Business Innovation stream has strict eligibility criteria and is now closed to new applications. This guide explains age limits, turnover thresholds, asset requirements, points test rules, and nomination conditions.

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Invitation

Under regulation 188.221(1), you must be the person who received the written invitation to apply for the Business Innovation stream. The invitation specifies the stream and cannot be used for any other visa class or stream. After the invitation is issued you have 60 days to lodge your application through SkillSelect.

Age Requirement

Your age is measured at the date of invitation — you must not have turned 55 by that date. It is irrelevant whether you turn 55 during the 60-day invitation period.

Exceptional Age Cases

Under 188.221(2)(b), the 'exceptional economic benefit' provision gives nominating States and Territories the flexibility to nominate applicants who are 55 or older, if the proposed business is considered to be of exceptional economic benefit to that jurisdiction. There is no prescribed form for this — the nominating body provides written advice in support of the claim, recorded electronically in SkillSelect. Officers should generally accept the State or Territory's recommendation without further investigation unless they are considering a refusal, in which case they must contact the nominating agency first.

Successful Business Career

Under 188.224, applicants must demonstrate an overall successful business career. This is assessed having regard to the full history of the applicant's business involvement.

Business Credentials

Under 188.225(1), you must have held an ownership interest in a main business with an annual turnover of at least AUD 500,000 for at least 2 of the 4 fiscal years immediately before the visa application.

Service-Based Businesses

Regulation 188.225(2) is designed to distinguish genuine business managers from people who primarily work as professionals or tradespeople. To satisfy this criterion, you must have spent the majority of the prescribed period running and managing a business — not personally delivering services as a doctor, dentist, lawyer, electrician, mechanic, or similar practitioner.

Officers assess this by looking at the type and size of the business, your specific role within it, the number of other qualified staff employed, your business affiliations, and any timesheet or diary records showing how your working hours were actually spent.

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As a Migration & Education Consultant, I provide expert guidance on Australian visas and international education, helping clients navigate both with ease.

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Main Business Turnover

Turnover is used as a measure of how actively involved an applicant has been in a real, market-facing business. Only main businesses — those in which the applicant holds the required level of ownership and involvement — can be counted. Importantly, turnover can only be included for a business that was owned for a full fiscal year.

Net Business and Personal Assets

Under 188.226, the net business and personal assets of you and/or your spouse or de-facto partner are calculated as the total value of all assets minus all liabilities. Net business assets are not restricted to main businesses for this purpose. You are required to complete a Statement of Assets and Liabilities Position (SALP) form covering two consecutive fiscal years prior to your invitation date. This gives the assessing officer a clear snapshot of your financial position over time.

Additional Assets for Settlement

Under 188.227, applicants must also demonstrate they have additional assets available to assist with settling in Australia, above and beyond the minimum threshold amounts.

Asset Transferability

Under 188.228, your assets must be available to transfer to Australia within 2 years of visa grant. This means the assets must be reasonably liquid and genuinely capable of being moved to Australia so they can be used to start business activity.

Points Test

Under 188.222, applicants must achieve a minimum score on the Schedule 7A Business Innovation and Investment Points Test. For the Business Innovation stream, the score is calculated across Parts 7A.2, 7A.3, 7A.4, 7A.5, 7A.7, 7A.8, 7A.9, and 7A.10. Note that Business Innovation stream applicants are not eligible for points under Part 7A.6, as that part relates to investment experience and is reserved for the Investor stream.

Points are awarded for only one qualifying attribute per Part. If you satisfy more than one qualification within a single Part, you receive points for whichever qualification attracts the most points. The one exception is Part 7A.9, which covers evidence of innovation — such as patents, trademarks, and export activity — where points can be accumulated cumulatively. For example, you could score 15 points for a patent, 10 for a trademark, and 15 for export activity, giving a total of 40 points from this part alone.

Business Intentions

Under 188.229, you must demonstrate a genuine and realistic commitment to establishing or participating in business in Australia. Officers assess this based on your declaration and your broader understanding of the Australian business environment.

Demonstrated Need to Be in Australia

Under 188.223, applicants must demonstrate a genuine and specific need to be present in Australia in connection with their proposed business activities.

Public Interest Criterion 4005

Under 188.229A, the primary applicant cannot be granted a visa unless all family unit members who are also visa applicants satisfy the health requirement under PIC 4005. Even family members who have not applied for the visa must satisfy PIC 4005, unless it would be unreasonable to require this.