· be under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
· score at least 65 on the points test. Please see the Points test tab on this webpage for further information.
· for two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500 000 turnover in each of those years
· own at least one of the following percentage of your nominated main business:
o 51 per cent, if the business has a turnover of less than AUD400 000 per year
o 30 per cent, if the business has a turnover of AUD400 000 or more per year
o 10 per cent, if the business is a publicly listed company
· have an overall successful business career
· have a genuine desire to continuously own and maintain a management role in a business in Australia.
If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.
At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
You and your partner must have had no involvement in unacceptable business or investment activities.
To meet the South Australian nomination requirements you must
- Meet DIBP 188 innovation stream criteria
- Intend to live in South Australia
- Intend to establish a business in South Australia that meets the permanent DIBP 888 innovation stream criteria and state nomination requirements. Information on the proposed business in South Australia must be provided (Refer to 888 page for details on State requirements)
- Agree to register your arrival in South Australia with Immigration SA and maintain current contact details for the duration of your visa.
You must have been in Australia and held:
· a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream
· a Special Category visa (subclass 444)
for at least one year in the two years immediately before you apply.
In addition, you must be able to show ongoing business involvement, meet certain financial requirements, and have a history of employing Australian workers.
Ongoing business involvement
You must be able to show that you (or you and your partner together) have:
· had an ownership interest (and continue to have an ownership interest) and a direct and continuous management role in an actively operating main business (or main businesses) in Australia for the two years immediately before you apply.
· had an annual turnover of at least AUD300 000 from the main business (or businesses) in the 12 months before you apply. (A nominating state or territory might agree to waive the requirement to show an annual turnover of AUD300 000 if you live and operate business in a specified regional area of Australia)
· owned at least one of the following percentages of the main business (or main businesses) in Australia in the year immediately before you apply:
o 51 per cent of a business with a turnover of less than AUD400 000 per year
o 30 per cent of a business with a turnover of AUD400 000 or more per year
o 10 per cent of a publicly listed company
· obtained an Australian Business Number for each of your main businesses
· submitted Business Activity Statements to the Australian Taxation Office for the two years immediately before you apply
· not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890, 891, 892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.
You (or your partner, or you and your partner together) must also demonstrate that you have achieved at least two of the following requirements:
· a net value of business assets of at least AUD200 000 in your nominated main business (or two main businesses) in Australia throughout the year immediately before you apply
· a net value of personal and business assets of at least AUD600 000 in Australia throughout the year immediately before you apply
· employed at least the equivalent of two full-time employees in your main business (or main businesses), throughout the year immediately before you apply who are:
o Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
o not members of your family.
To meet the South Australian nomination requirements you must:
- Hold a provisional innovator visa nominated by South Australia or a completed release form
- Meet DIBP 888 innovator stream criteria
- Primary residence and business location in South Australia for a minimum of two years prior to 888 nomination application
- Meet and provide evidence of the benefit to state requirements as required for your age, business type and location.
Benefit to State Requirements under 55 years of age
You must provide evidence that you have met one of the following:
- Employed two full-time equivalent employees in SA – additional requirements apply.
- Provided a minimum capital investment of AUD $200,000 into a South Australian business. (AUD $1.5 million for property developers) See investment criteria below.
- Inject AUD $600,000 of net personal and/or business assets into South Australia.
Exceptional Benefit to State Requirements over 55 years
You must provide evidence that you have met one of the following:
- Employed four full-time employees – or an additional four workers if you purchased the business – for a minimum of 12 months prior to lodging your application. They must be Australian citizens, New Zealand passport holders, or Australian permanent residents for the full 12-month period
- Provided a minimum capital investment of AUD $1.5 million into a South Australian business or AUD $2 million for property developers
- Exported AUD $600,000 of South Australian products or services (turnover value).
If you are over 55 and undertake your investment in country region South Australia the exceptional benefit to state requirements reduce to:
- Employed three full time equivalent employees
- Provided a minimum capital investment of AUD $1 million into a South Australian business or AUD $2 million for property developers.
If you undertake your business investment in country region South Australia you can obtain a concession from Immigration SA on the DIBP minimum criteria. It is recommended you meet with Immigration SA as soon as possible to discuss any DIBP waiver requests.
Immigration SA can provide a waiver for either your minimum DIBP requirements for turnover (A) or your requirement to meet business or personal assets (B) in recognition that country areas may have a smaller customer base and lower capital requirements.
- A: AUD $300,000 turnover Or
- B: Waiver two out of the following three DIBP requirements: 1. Waiver AUD $200,000 in net business assets 2. Waiver AUD $600,000 in net personal and/or business assets 3. Wavier two full time employee requirement
The table below sets out the factors and points of the innovation points test.
|English Language||Vocational or higher
Proficient or higher
|Qualifications||Australian trade certificate, Diploma or Bachelor degree by an Australian education institute;
or a Bachelor degree recognised by the Minister
Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognised standard
|Special endorsement||The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located||10|
|Financial assets||Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:|
|Business turnover||Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:|
|Business Innovation stream only
|You have held one or more businesses before you were invited to apply for the visa for:
Not less than four years within the preceding five years
Not less than seven years within the preceding eight years
|Investor stream only
|Eligible investment of at least AUD100 000 held for:
At least four years before the time of invitation to apply for the visa
At least seven years before the time of invitation to apply for the visa
|Business innovation qualifications
At the time of invitation to apply for the visa:
|Evidence of registered patents or registered designs
Evidence of registered trademarks
Evidence of formal joint venture agreements
Evidence of export trade
Evidence of ownership interest in a gazelle business
Evidence of receipt of grants or venture capital funding
|State or territory nomination||Special endorsement (limited places)||10|