The Business Innovation Points Test

 

Applicants for the provisional subclass 188 visas will need to meet the pass mark of 65 in the Innovation Points Test.

 

Age

Points will be available depending on which age bracket the applicant falls within. Once the applicant is 55, no points will be available for age and state or territory governments must apply for a waiver of the age limit for people aged over 55.

 

PointsAge Band

20  Between 18 and 24

30  Between 25 and 32

25  Between 33 and 39

20  Between 40 and 44

15   Between 45 and 54

0    55 and over

 

English Language Ability

There is no minimum English language requirement for the new business migration subclasses. However, applicants with less than functional English will need to pay an English Language Charge before receiving their visas.

Points are available for:

  • Vocational English (5 minimum in each of the 4 components of IELTS): 5 points

  • Proficient English (7 minimum in each of the 4 components of IELTS): 10 points

 

Qualifications

People with trade qualifications, diplomas or bachelor degrees will receive 5 points. Qualifications must either be awarded by an Australian institution or recognised overseas institution.

10 points are available if the qualification is in business, science or technology.

 

Experience in Business or Investment

Points are available for experience relevant to the stream being applied for - ie for the business innovation stream, work experience as a business owner would be considered relevant.

Points available for business owners are as follows:

 

Points Owned a business for at least:

104 of the last 5 years prior to invitation

157 of the last 8 years prior to invitation

Points are available for investors who have held eligible investments of at least AUD 100,000 prior to being invited and these are as follows:

 

Points Held eligible investment of AUD 100,000:

10 Last 4 years

15 Last 7 years

 

Net Personal Assets

Points will be available for net personal assets held for the last 2 financial years:

 

Points Net assets held for last 2 financial years

5 AUD 800,000 to 1.3 Million

15 AUD 1.3 million to 1.8 million

25 AUD 1.8 million to 2.25 million

35 Over AUD 2.25 million

 

Business Turnover

Points will be awarded for turnover in a business owned by the applicant. The turnover threshold must be met for 2 of the last 4 years prior to application:

 

Points Business turnover for 2 of the last 4 financial years

5AUD 500,00 to 1.0 million

15AUD 1.0 million to 1.5 million

25AUD 1.5 million to 2.0 million

35Over AUD 2.0 million

 

Innovation

Points can be awarded in a number of items under this factor, for instance:

  • 15: Registered patents or designs

  • 10: Registered trademarks

  • 5: Joint Ventures

  • 15: Export Trade: where the business has at least 50% of its turnover in exports

  • 10: Gazelle Businesses: where the business has had 20% annualised growth for the last 3 financial years

  • 10: Grants or Venture Capital Funding: government grants of at least AUD 10,000 or venture capital funding of at least AUD 100,000 will give eligibility for points

 

Special Endorsement by State/Territory Government

State and Territory Governments can support applicants by indicating that they proposed business is of unique and important benefit to the state or territory. This results in 10 points for the visa applicant.

For more information on business migration please contact us.

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