A business visa offers a number of advantages including a temporary visa of up to 4 years and the applicant’s immediate family members listed on the application to live, work and study in Australia with them. With a comprehensive economic policy framework, Australia offers a highly competitive market which has a sound, stable and modern infrastructure that serves as an ideal destination for investment.
Visas fall into two main categories:
- Provisional visasare pathway to permanent residency in Australia
- Permanent residency visasallow migrants to live and work in Australia
Business Talent Visa (Subclass 132):
The Business Talent Visa (Subclass 132) is a permanent resident visa for those who are willing to establish or develop a new or existing business in Australia. It requires the applicants to have sufficient funds and genuine intention to reside in a particular Australian state or territory.
Common Criteria:
- Be nominated by a state or territory government
- Submit an Expression of Interest through SkillSelect and be invited to apply
- Meet health and character requirements (including the dependent family members)
- Meet additional requirements of the stream applied
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a) Significant Business History Stream:
Eligibility Criteria:
- Stay in the nominated state or territory
- Maintain your business and investment activity in Australia even after the validity of your provisional visa is expired
- You, your partner or both have net assets of at least AUD5 million that are acquired legally and available for use to make the complying investment in Australia
- You must not have been associated or involved in deplorable business or investment activities
- You and all the dependent members of your family unit (above years 18 age) must provide assurance of not plunging into any action against the Commonwealth in case any loss happens concerning to the complying investment
- All the income earned from the complying investment in Australia must be subjected to tax under Australian taxation law
- Your complying investment or a complying significant investment must be of at least AUD 5 million over four years
- Your complying significant investment should be in the following proportions:
- At least AUD500, 000 in venture capital and growth private equity funds, which make investment in start-ups and small private companies
- At least AUD1.5 million in approved managed funds that invest in emerging companies listed on the Australian Stock Exchange
- At least AUD3 million in managed funds that invest in a range of assets including ASX listed companies or Australian corporate bonds, commercial real estate and annuities
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b) Venture Capital Entrepreneur Stream:
Venture Capital Entrepreneur Stream is for people who have sourced venture capital to fund the start up or product commercialization of a high value business idea.
Eligibility Criteria:
- Less than 55 years of age
- Must have at least $1 million in funding from an Australian Venture Capital Firm
- The venture must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL)
- Must have formal agreement with the venture capital firm for the funding
- Must be genuinely involved in maintaining an ownership interest and engagement in business
- Meet the requirements of your venture capital agreement
Business Innovation and Investment (Subclass 188):
The Business Innovation and Investment visa (Subclass 188) is a temporary visa for applicants who want to own or manage a new or existing business in Australia. It also serves as a first step towards being eligible for a permanent Business Skills visa.
Common Criteria:
- Be under 55 years of age
- Be nominated by Australian state or territory government
- Submit an Expression of Interest and be invited to apply from Department of Home Affairs
- Have health examinations done within 12 months of applying for the visa
- Have police certificate from each country lived in for 12 months or more of past 10 years to demonstrate character history
- Sign an Australian Values Statement (if the age is 18 or older)
- Be free from any outstanding debts to the Australian government
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a) Business Innovation Stream:
Eligibility Criteria:
- Have age less than 55 years
- Scored at least 65 on the point test
- Have a genuine desire to undertake a management role in a business in Australia
- Have total net business and personal assets of at least AUD 800,000 available for legal transfer to Australia
- Have had ownership interest in an established business or business with AUD500000 turnover for at least 2 out of the 4 fiscal years (at the time of invitation to apply for visa)
- Own at least either of the following percentage of nominated main business:
- 51% if the business has a turnover of less than AUD 400,000 per year
- 30% if the business has a turnover of AUD 400,000 or more
- 10% if the business is a publicly listed company
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b) Investor Stream:
Eligibility Criteria:
- Be under 55 yearsof age (this requirement can be waived if the proposed investment provides outstanding economic benefit to the nominating state or territory).
- Achieve at least 65 in the point-test
- Possess a high level of management skills to undertake a qualifying business activity
- Be committed to continue business and investment in Australia once the original investment is matured
- Have a genuine intention to stay for at least 2 years in the state or territory under which the designated investment has been made
- Have been involved directly for at least 3 years in managing one or more qualifying businesses or eligible investments
- Have a combined ownership interest (with your partner) of at least 10% in a qualifying business OReligible investment of at least AUD 1.5 million owned by you for at least one of the five fiscal years
- Make a designated investment of at least AUD 1.5 million in a state or territory government for at least 4 years from the date of issue
- Have legally attained investment, net business and personal assets of at least AUD 2.25 million for legal transfer to Australia within two years of visa being granted
- Have had no participation or association with unacceptable activities in Australia
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c) Significant Investor Stream:
Eligibility Criteria:
- Stay in the nominated state or territory
- Maintain your business and investment activity in Australia even after the validity of your provisional visa is expired
- You, your partner or both have net assets of at least AUD5 million that are acquired legally and available for use to make the complying investment in Australia
- You must not have been associated or involved in deplorable business or investment activities
- You and all the dependent members of your family unit (above years 18 age) must provide assurance of not plunging into any action against the Commonwealth in case any loss happens concerning to the complying investment
- All the income earned from the complying investment in Australia must be subjected to tax under Australian taxation law
- Your complying investment or a complying significant investment must be of at least AUD 5 million over four years
- Your complying significant investment should be in the following proportions:
- At least AUD500, 000 in venture capital and growth private equity funds, which make investment in start-ups and small private companies
- At least AUD1.5 million in approved managed funds that invest in emerging companies listed on the Australian Stock Exchange
- At least AUD3 million in managed funds that invest in a range of assets including ASX listed companies or Australian corporate bonds, commercial real estate and annuities
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d) Premium Investor Stream:
The premium investor stream is followed by the nomination of Australian Trade and Investment Commission or Austrade on behalf of the Australian government only.
Eligibility Criteria:
You must make a complying investment of at least AUD15 million in any of the following options:
- Australian government or semi-government bond or notes
- Australian proprietary limited companies
- Possess a high level of management skills to undertake a qualifying business activity
- Australian securities exchange listed assets
- State or territory approved philanthropic contribution
- Deferred annuities issued by Australian registered life companies
- Australian exchange listed entity issued corporate bonds or the investment grated rated bonds by an AFS licensed debt rating agency
- All the income earned from the complying investment in Australia must be subjected to tax under Australian taxation law
- You must have a genuine intention to continue business and investment activity in Australia after the validity of your 188 visa expires.
- You, your partner or both combined must have a combined net assets of at least AUD15 million that are lawfully acquired and available to use to make the complying investment in Australia
- You and your partner must not have found in unacceptable business or investment activities
- You and your partner along with the dependant family members (aged 18) must provide assurance of not bringing any action against the Commonwealth for any loss with reference to the complying investment
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e) Entrepreneur Stream:
Eligibility Criteria:
- Age less than 55 years (unless your complying entrepreneur activity is of exceptional economic benefit to the nominating state or territory)
- Evidence of competent English at the time of invitation for visa
- A genuine intention of undertaking a complying entrepreneur activity in Australia
- Your complying entrepreneur activity must not be related to residential real estate, labour hire or purchasing an existing enterprise or a franchise in Australia
- One or more legally enforceable agreement of funding worth at least AUD 200,000 from any of the following entities
- Publicly Funded Research Organisation
- State or Territory Government
- Commonwealth Government Agency
- Registered investor with Early State Venture Capital Limited Partnership or an Australian Venture Capital Limited Partnership
- Specified Higher Education Provider
- An agreement demonstrating of paying at least 10% funds to the entrepreneurial entity within 12 months of activity undertaken in Australia
- At least 30% of interest in entrepreneurial entity at the time of entering into the agreement
- A valid plan or innovative idea of leading commercialization of a product or service or the development of enterprise in Australia
- Maintain an ongoing relationship with the nominating state or territory government
Business Innovation and Investment (subclass 888):
The Business Innovation and Investment (subclass 888) is a permanent residency visa for those who hold a four-year provisional subclass 188 visa and looking to continue to own and manage a business or an investment activity in Australia and Australian state or territory respectively.
Common Criteria:
- Held a provisional Business Innovation and Investment visa (subclass 188) and met all the requirements of the stream you first applied OR
- Be the spouse or de facto partner of 188 visa in the investor or business innovation stream and be able to meet the primary requirements of permanent business innovation and investment visa in the relevant stream OR
- Held a Special Category visa (subclass 444) and met the requirements of business innovation stream
- Not have been involved or associated with any unacceptable business or investment activity
Additional Requirements:
- Hold a fine record of abiding by the laws of Commonwealth along with state or territory in which you operated a business or entrepreneurial activity
- Nomination by the Australian state or territory or by Austrade on behalf of the Australian government
- Evidence of meeting the health and character requirements for 188 visa
- Genuine commitment to maintain business or investment activity in Australia
- Met all the requirements of the stream in which you held your 188 visa
- Must be free from any outstanding debts to the Australian government (this also applies to all the members of family unit)
- You must enter in Australia by a specified date once you are granted this visa
- Any family member included as dependent in the application must not marry or be in a de facto relationship before entering in Australia
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a) Business Innovation Stream:
- Hold a business innovation and investment visa (subclass 188) in the business innovation or business innovation extension stream OR
- Hold a special category visa (subclass 444) for at least 1 of 2 years prior to making an application
- Be able to demonstrate ongoing business involvement, meet certain financial requirements and a history of employing Australian workers
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b) Investor Stream:
- Have held 188 visa in the investor for at least 2 of the 4 years prior making to application
- Have maintained a designated investment with an Australian state or territory for at least 4 years
Note: If you have applied for 188 visa before 1 July 2015, you can only apply for 888 visa under this stream once you have completed 3 years on your 188 visa.
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c) Significant Investor Stream:
- Have held 188 visa in the significant investor stream or significant investor extension stream
- Held complying investment consistently for at least 4 years on your 188 visa
- Operated a qualifying business under the private Australian company
Note: If you have applied for 188 visa in the significant investor stream before 1 July 2015, you must have held your visa for 3 years and 11 months to be eligible to apply for 888 visa. If you have applied after 1 July 2015, you are required to have held your 188 visa for at least 4 years.
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d) Premium Investor Stream:
- held 188 visa in the premium investor stream for at least 1 year and be nominated by the commonwealth government
- Held complying premium investment continuously for at least 1 year
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e) Entrepreneur Stream:
- Have held your provisional 188 visa in the entrepreneur stream for at least 4 years prior making an application
- Have evidence that demonstrate a successful record of your entrepreneurial activities in Australia