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- be under 55 years of age (unless you can show that your proposed business is of exceptional economic benefit to the nominating state or territory);

- score at least 65 on the innovation points test;

- genuinely intend to live in the State or Territory that nominated you;

- have demonstrated:

• experience in managing a business or investments; and

• an ability to make a designated investment in Australia for at least four years

- You must make a designated investment:

• of at least AU$1.5 million in a government security in the State or Territory that nominates your application; and

• using unencumbered funds accumulated from qualifying businesses or eligible investments.

- You may make the investment in your name, or the names of you and your spouse/de facto partner (if applicable).

At the time a state or territory government agency invites you to apply for the visa, you must have:

• a high level of skill (and a successful record) in managing eligible investments or qualifying businesses;

• a minimum of three years of direct involvement in the management of at least one qualifying business or eligible investment;

• had no involvement in unacceptable business or investment activities. This includes both you and your spouse or de facto partner; and

• in at least one out of the last five financial years, directly managed:

  • eligible investments owned by you (or your spouse or de facto partner) totalling at least AU$1.5 million; or

  • a qualifying business, where you (and spouse or de facto partner) owned at least 10% of the business’s total value.

Visa 188B Requirement

From Visa 188B To Visa 888B

Conditions for applicants

1. Holding Visa 188B and having been in Australia for at least 2 years for a period of 4 years

2.  Invested AUD1.5 million in an Australian state or territory and have held your designated investment for at least 4 years if the provisional visa was granted on the basis of an application made on or after 1 July 2015

3. Get a sponsorship/nomination by the state prior to applying for a visa

4. Not have been involved in unacceptable business or investment activities

5. Have a realistic commitment to continuing business or investment activities

6. Meet other language\ health and character requirement