Business Visas

Business Innovation and Investment (Provisional) (Subclass 188) Visa

Business Innovation and Investment (Provisional) (subclass 188) visa is valid for four (4) years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their provisional visa for at least two (2) years.

Basic Requirements

Business Innovation and Investment (Provisional) (subclass 188) visa is a temporary visa for successful business owners and investors.

The Business Innovation stream is for people who want to own and manage a new or existing business in Australia.

The Investor stream is for people who want to make a designated investment in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.

You must be less than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the relevant region.

You must score at least 65 on the Innovation Points test. Points are awarded for:

>Age.

English language ability.

Qualifications.

Experience in business or investments.

Net personal and business assets.

Business turnover.

Innovation.

On rare occasions, the nominating state or territory government can award you 10 points towards the test because they think your proposed business is of exceptional economic benefit to them.

Other requirements depend on whether you apply for the Business Innovation stream or the Investor stream.

Business Innovation Stream

If you apply for the Business Innovation stream, you (or your partner, or you and your partner combined) must have:

Total assets of at least AUD800 000 that have been legally acquired and can be legally transferred to Australia within two years of the visa being granted.

A total annual turnover of at least AUD500 000 (in one of more of your businesses) in at least two of the four fiscal years immediately before you are invited to apply.

Owned at least:

51 per cent of a business with turnover of less than AUD400 000 per annum, or

30 per cent of a business with turnover of more than AUD400 000 per annum, or

10 per cent of a publicly-listed company.

An overall successful business career with no involvement in unacceptable business activities,

Managed a business, in which you spent less than half your time on professional, technical or trade services.

A genuine desire to own and maintain a management role in a business in Australia.

If you apply for the Investor stream, you (or your partner, or you and your partner combined) must:

Have a net value of at least AUD2.25 million for the two fiscal years immediately before you are invited to apply,

Have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities,

Have a high level of management skill in relation to eligible investments and/or qualifying business activity,

Have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments,

Make your government-approved designated investment of AUD1.5 million before a visa can be granted,

Have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.

You (or your partner, or you and your partner combined) must also have had one of the following:

Direct involvement, for at least one of the five fiscal years you are invited to apply, in managing your eligible investments that total at least AUD1.5 million, or

Direct involvement, for at least one of the five fiscal years before you are invited to apply, in managing a qualifying business in which you owned at least 10 per cent of the total alue of the business.

Each State or Territory have different criteria for the visa. To be able to lodge a valid application for this visa you need to first submit an ExpressionInterest through SkillSelect. You can do this in or outside Australia.

Visa Entitlements

The Australian Business Owner (Provisional) visa is a temporary visa valid for up to four (4) years and permits the holder to own (or part own) an Australian business. Immediate family members (such as a partner and dependent children) included on the application are also entitled to live, work and study in Australia.

Upon satisfying certain requirements, Business Owner (Provisional) visa holders may apply for permanent residence under the Business Skills (Residence) visa category which may require sponsorship from a participating State or Territory government.

This visa is the second stage of the Business Innovation and Investment visa. You can apply for it after you have fulfilled the requirements of your provisional visa.

Basic Requirements

You do not need to lodge a new Expression of Interest, but you do need to:

Be the primary holder of a provisional Business Innovation and Investment visa (subclass 188).

Have met all the requirements of your visa, in the stream in which you first applied.

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

Be nominated by an Australian state or territory.

Visa Entitlements

Successful applicants and holders of an Australian Business Talent visa become permanent residents of Australia. Permanent residents are entitled to live, work and study in Australia on a permanent basis. Additional benefits of Australian permanent residence include access to government-subsidised healthcare (Medicare), certain social security benefits and the ability to apply for Australian citizenship.

Business Talent (Permanent) (Subclass 132) Visa

The Australian Business Talent visa is a permanent business skills visa that allows the highest calibre of business owners to contribute to the success of a new or existing Australian business.

Basic Requirements

This visa has two streams:

The Significant Business History stream is for affluent owners or part owners of a business who want to have a major management role in a new or existing business in Australia.

The Venture Capital Entrepreneur stream is for people who have obtained at least AUD1 million in funding from an Australian venture capital firm.

If you apply for the Significant Business History stream, you (or your partner, or you and your partner combined) must have all of the following:

You must be less than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the relevant region.

Net assets of at least AUD400 000 (in a qualifying business) in at least two of the four fiscal years immediately before you are invited to apply.

Total assets of at least AUD1.5 million that can be legally transferred to Australia within two years of the visa being granted.

A total annual turnover of at least AUD3 million (in one or more of your main businesses) in at least two of the four fiscal years immediately before you are invited to apply.

Ownership of at least:

51 per cent of a business with turnover of less than AUD400 000 per annum, or

30 per cent of a business with turnover of more than AUD400 000 per annum, or

10 per cent of a publicly-listed company

An overall successful business career with no involvement in unacceptable business activities.

A genuine desire to own and maintain a management role in a business in Australia.

Venture Capital Entrepreneur Stream

If you apply for the Venture Capital Entrepreneur stream, you must have obtained at least AUD1 million in funding from an Australian Venture capital firm for the start-up, product commercialisation or business development relating to a promising high value business idea.

Visa Entitlements

Successful applicants and holders of an Australian Business Talent visa become permanent residents of Australia. Permanent residents are entitled to live, work and study in Australia on a permanent basis. Additional benefits of Australian permanent residence include access to government-subsidised healthcare (Medicare), certain social security benefits and the ability to apply for Australian citizenship.