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.
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.
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
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
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
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.