Business Innovation (Provisional) subclass 188 visa:

The following visa criteria apply to the Business Innovation stream:

• You must have received an invitation to apply for the subclass 188 visa;
• You must be aged under 55 years at the time the invitation (some states waive
•  
• the age criterion if your proposed business or investment activity is of exceptional economic benefit to that State);
• Achieve a score of at least 65 in the points test;
• In 2 out of the last 4 financial years before you are invited to apply for the visa, you must have had an ownership interest in an established business with at least $500,000 in turnover in each of those years;
• Have at least the following ownership interest in the business:
• 51% if turnover is less than $400,000 per year
• 30% if turnover is $400,000 or more per year
• 10% if the business is a publicly listed company;
• Have an overall successful business career;
• Have a genuine desire to continuously own and maintain a management role in a business in Australia
• Demonstrate that there is a need for you to reside in Australia to establish or operate your proposed business activity;
• If your business provides professional, technical or trade services, you must have spent no more than 50% of your time providing those services (as opposed to general management of the business);
• At the time of invitation, you and your partner must have combined total net business and personal assets of at least $800,000, which were lawfully acquired and available for legal transfer to Australia within two years of visa grant;
• Your nominating state must be satisfied that the total net business and personal assets owned by you and your partner, apart from the assets referred to in the above point, are sufficient to allow you to settle in Australia;
• You and your partner must not have been involved in unacceptable business or investment activities; and
• Health and character requirements also apply.

Your proposed business activity must be a qualifying business, which means that it operates with the purpose of making a profit through the provision of goods and services.

You must either establish a new qualifying business or participate in an existing one in Australia. This commitment extends to maintaining a substantial ownership interest in, and engaging in, daily management of the business.