You can apply for this visa only if you have one of these visas and you held it for at least one year in the two years immediately before you apply.
- a Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream
- a Special Category visa (subclass 444)
In addition, you must be able to show ongoing business involvement, meet certain financial requirements, and have a history of employing Australian workers.
You must be able to show that you (or you and your partner together) have:
- had and still have an ownership interest and a management role in a business in Australia
- had an annual turnover of at least AUD300 000
- owned percentages of a business in Australia
- submitted Business Activity Statements to the Australian Taxation Office
- not gained the business from a person who was an applicant for, or still hold, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890, 891, 892 or 893). Conditions apply
You must also show that you have accomplished at least two of the following requirements:
- a net worth of business assets of at least AUD200 00
- a net worth of personal and business assets of at least AUD600 000 in Australia
- hired two full-time employees in your main business who are Australian citizens, permanent residents, or New Zealand and not parts of your family.