188 A & B Points test (Business Innovation)

Age

Points will be available depending on which age bracket the applicant falls within. Once the applicant is 55, no points will be available for age and state or territory governments must apply for a waiver of the age limit for people aged over 55.

Points Age Band
20 Between 18 and 24
30 Between 25 and 32
25 Between 33 and 39
20 Between 40 and 44
15 Between 45 and 54
0 55 and over

English Language Ability

There is no minimum English language requirement for the new business migration subclasses. However, applicants with less than functional English will need to pay an English Language Charge before receiving their visas.

Points are available for:

  • Vocational English (5 minimum in each of the 4 components of IELTS): 5 points
  • Proficient English (7 minimum in each of the 4 components of IELTS): 10 points

Qualifications

People with trade qualifications, diplomas or bachelor degrees will receive 5 points. Qualifications must either be awarded by an Australian institution or recognised overseas institution.

10 points are available if the qualification is in business, science or technology.

Experience in Business or Investment

Points are available for experience relevant to the stream being applied for – ie for the business innovation stream, work experience as a business owner would be considered relevant.

Points available for business owners (188A) are as follows:

Points Owned a business for at least:
10 4 of the last 5 years prior to invitation
15 7 of the last 8 years prior to invitation

Points are available for investors (188B) who have held eligible investments of at least AUD 250,000 prior to being invited and these are as follows:

Investor stream only
Investor experience
If you are invited to apply for the visa on or after 1 July 2021,  immediately before the time of invitation to apply for the visa you held eligible investments of at least AUD250,000 held for:
Not less than 4 years 10
Not less than 7 years 15​

Net Personal Assets

Points will be available for net personal assets held for the last 2 financial years:

Financial assets Net business and personal assets of you, your partner or you and your partner combined in each of the preceding 2 fiscal years immediately before the time of invitation  of at least:
Not less than AUD1,250,000 5
Not less than AUD1,750,000 15
Not less than AUD2,250,000 25
Not less than AUD2,750,000 35

Business Turnover

Points will be awarded for turnover in a business owned by the applicant. The turnover threshold must be met for 2 of the last 4 years prior to application:

Business turnover If you are invited to apply for the visa on or after 1 July 2021, you had an ownership interest in one or more main businesses that had an annual turnover in at least 2 of the 4 fiscal years immediately before the time of invitation to apply for the visa:
Not less than AUD750,000 5
Not less than AUD1,250,000 15
Not less than AUD1.,750,000 25
Not less than AUD2,250,000​ 35

Innovation

Points can be awarded in a number of items under this factor, for instance:

Business innovation qualifications
Patents or designs registered not less than 1 year before that time and  used in the day to day activities of the main business 15
Trademarks registered not less than 1 year before that time and  used in the day to day activities of the main business 10
An ownership in and day to day participation in the management of one or more main business operated under a  formal joint venture agreement/s entered into no less than 1 year before the time 5
An ownership interest in a main business/s that derives no less than 50% of its annual turnover from export trade 15
An ownership interest in a main buisness/s not more that 5 years before :

  • had an average annualised growth in turnover that was greater than 20% per annum over 3 continuous fiscal years; and
  • in at least one of the 3 fiscal years employed 10 or more employees for a total number of hours that was at least the total number of hours that would have been worked by 10 full-time employees
10
An ownership interest in a main business/s that received :
  • a grant from a government body in your home country of at least AUD10,000 for the purposes of early phase start up of a business, product commercialisation, business development or business expansion
    or
  • venture capital funding of at least AUD100,000 not more than 4 years before the time of the invitation for the purposes of early phase start up of a business, product commercialisation, business development or business expansion
10

Special Endorsement by State/Territory Government

State and Territory Governments can support applicants by indicating that they proposed business is of unique and important benefit to the state or territory. This results in 10 points for the visa applicant.

Other 188 Visa eligibility streams:

  • for people who are willing to invest $1.5 million in an Australian State or Territory bonds

  • for people with significant funds who are willing to invest at least $15 million into complying premium investments in Australia.

  • for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity

Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

Book a meeting for a commitment free briefing with our Registered Migration Agents in Melbourne to find more about your visa options.