Business Innovation Stream Visa
Successful and skilled business individuals are encouraged by Australia to buy or invest in the nation and take advantage of the possibilities it offers. The same is made possible through the Australian Business Innovation Stream (Provisional) visa. This is a temporary business skills visa that helps seasoned entrepreneurs launch new ventures or buy out existing companies in Australia. If the condition of their provisional visa for at least 2 years is met, the qualified visa holders may apply for permanent residency under the terms of this 4 years, 3 month visa.
Australian Business Innovation Stream Visa Basic Requirements
The maximum age for applicants to this programme is 55. However, the State/Territory Sponsored Business Owner (Provisional) visa, which has a lower financial criterion, may be available to applicants who are over 45 but under 55 years old.
Candidates should be able to demonstrate a prosperous company career with a high turnover in either scenario. They should be able to demonstrate a dedication to operating a business in Australia. In addition to the comprehensive business proposal, applicants must be able to show that they have the resources or assets necessary to establish themselves in Australia. Applicants must submit an Expression of Interest (EOI) and must pass the innovation points exam with a minimum score of 65.
Australian Business Innovation Stream Visa Entitlements
Ownership of an Australian firm is permitted for those with the Australian Business Innovation Stream (Provisional) visa (fully or partially). The duration of this temporary visa is 4 years and 3 months. The right to live, work, and study in Australia also extends to any close family members (dependents, children, or partners) who have been listed on the application.
The holders of the visas could be qualified to apply for permanent residency under the Business Innovation and Investment Visa category, however this may need sponsorship from a participating State or Territory government.