The Business Innovation Stream (Provisional) visa is a temporary business skills visa that allows successful business people to own a new or existing business in Australia.
The Business Innovation Stream (Provisional) visa is valid for four (4) years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their provisional visa for at least two (2) years.
The Business Innovation Stream (Provisional) visa is a temporary visa for successful business owners who are under the age of 55. Applicants are required to demonstrate a successful business career with significant turnover and a commitment to owning a business in Australia. Applicants are required to submit a detailed business proposal with their visa application and demonstrate that they have sufficient assets to settle in Australia.
All applicants are required to lodge an Expression of Interest (EOI) and score at least 65 on the innovation points test.
The Business Innovation Stream (Provisional) visa is a temporary visa valid for up to four (4) years and permits the holder to own (or part own) an Australian business. Immediate family members (such as a partner and dependent children) included on the application are also entitled to live, work and study in Australia.
Upon satisfying certain requirements, Business Innovation Stream (Provisional) visa holders may apply for permanent residence under the Business Innovation and Investment Visa category which may require sponsorship from a participating State or Territory government.