This is a cheaper and easier way to enter Australia by starting a new business for applicants who do not meet the requirements for the Business Talent Visa. Under this visa, the age limit of 55 years old can also be avoided if the state or territory considers your business idea a significant contribution to regional development.
The provisional visa is granted for up to four years and three months and allows you to operate a business in Australia. Requirements for the candidates depend on the stream they want to choose.
Entrepreneur stream
To apply for this visa, a candidate must:
Business Innovation stream
For this stream, requirements are higher than for the Entrepreneur stream but lower than for the Business Talent Visa.
First of all, it is a point-based stream, and a candidate needs to score at least 65 points. Points can be scored for age, English proficiency, qualifications, business experience, assets and turnover, etc.
Second, a candidate should have a successful business career. The main success measures are:
The third main requirement is functional English (IELTS 4.5).
After two to four years of successful business operation in Australia, a holder of this provisional visa is eligible to apply for residence under the Business Innovation and Investment (Permanent) visa (subclass 888). However, they must also provide certain indicators that their business is functioning well (turnover, assets and employee requirements) and they must actually live in the country for a certain period of time (at least two out of four years under the Entrepreneur stream and one out of two years for Business Innovation stream).
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