Visa applicants do not need to satisfy the innovation points test and there are no upper age limits. The visa stream features a residence requirement of 160 days spent in Australia over four years while holding the Business Innovation and Investment (Provisional) (Subclass 188) visa.
The investor, or the primary visa applicant,can make the complying investment personally or together with the investor’s spouse or de facto partner.
If the complying investment is made through a company, the company must be an ASIC registered company; and the primary visa applicant or together with the investor’s spouse or de facto partner must own all of the issued shares of the company.
If the complying investment is made through at trust, the trust must be a lawfully established and valid trust; and the primary visa applicant or together with the investor’s spouse or de facto partner, are the sole trustees and beneficiaries of the trust.
Through these investment structures, the investor may hold complying investments in any proportion.
“Eligible investments” for the purposes of the Investor Stream include:
Visa holders can extend their visa term if they would like to be given that they satisfy the extension requirements. They will be allowed to extend their provisional visa by an additional two years,with a maximum of two extensions permitted.