Business Migration

Business Innovation – Provisional (Subclass 188)

This visa is for people who have a successful business or investment career, and have a genuine and realistic commitment to be involved in investments or with a business in Australia.

This visa is also the first step towards being granted a permanent Business Skills visa.

Who is eligible for a Business Innovation and Investment Visa?

This visa is for significant investors/business people from overseas who are willing to invest funds in a business and/or designated investments in Australia (including NSW and Victoria) for four (4) years.

You must lodge the Expression of Interest (EOI) before you can be invited to apply.

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

At present, you must score at least 65 points on the Innovation Points test. Points are awarded for:

  1. Age
  2. English language ability
  3. Qualifications
  4. Experience in business or investments
  5. Net personal and business assets
  6. Business turnover
  7. Innovation.

Other Requirements for a Business Innovation and Investment Visa

Depending on whether you are applying for the Business Innovation stream or the Investor stream, you need to satisfy the following requirements:-

Business Innovation Stream

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

  1. A significant total assets of at least AUD $800 000.
  2. A significant total annual turnover of at least AUD $500 000 in at least two of the four fiscal years immediately before you are invited to apply.
  3. Owned at least:
    a. 51 per cent of a business with turnover of less than AUD $400 000 per annum, or
    b. 30 per cent of a business with turnover of more than AUD $400 000 per annum, or
    c. 10 per cent of a publicly-listed company.
  4. An overall successful business career with no involvement in unacceptable business activities.
  5. Managed a business, in which you spent less than half your time on professional, technical or trade services.
  6. A strong desire to own and maintain a management role in a business in Australia

Investor Stream

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

  1. Have a net value of at least AUD $2.25 million for the two fiscal years immediately before you are invited to apply.
  2. Have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities.
  3. Have a high level of management skills in relation to eligible investments and/or qualifying business activity.
  4. Have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments.
  5. Make your government-approved designated investment before a visa can be granted.
  6. 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:

  1. 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 AUD $1.5 million, or
  2. 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 value of the business.

Benefits of the Business Innovation and Investment Visa

With this visa you can travel in and out of Australia (NSW, VIC, QLD, every state and territory) any number of times as long as the visa is valid, have your family accompany you to Australia (they will have access to work and study rights) and establish a pathway to permanent residence.

If you are in the Business Innovation stream, you can renew your visa for an additional two years. A renewal application must be lodged with your state or territory government who must confirm, in writing, that they continue to support you.

Business Talent Visa (Subclass 132)

This permanent visa is designed for high calibre business people who are owners or part owners of an overseas business and have a genuine and realistic commitment to participate in the management of a new or existing business in Australia.

You must be sponsored by a state or territory government. This visa is for high calibre business people from overseas who are less than 55 years old, and their families.

Who is eligible for a Business Talent Visa Permanent?

You must be less than 55 years old (exceptions apply) and have an overall successful career in business.

You must be sponsored by an appropriate regional authority of a State or Territory Government and be invited to apply for the visa.

Other Requirements for a Business Talent Visa Permanent

An EOI (Expression of Interest) must be submitted for you to be invited. You must nominate in EOI one of the Significant Business History stream or Venture Capital Entrepreneur stream and satisfy the relevant requirements.

Significant Business History Stream

For Significant Business History Stream, you are required to proof:

  1. You (and your spouse combined) had net assets in a qualifying business of $400,000 for at least two (2) of the four (4) fiscal years immediately before you apply.
  2. You (and your spouse combined) had total assets of at least AUD $1.5 million that can be legally transferred to Australia within two years of the visa being granted
  3. The annual turnover of your main business (or two main businesses combined) was at least AUD $3,000,000 in at least two of the four fiscal years immediately before you apply.
  4. You (and your partner combined) must have owned at least:
    a. 51 per cent of the business where the turnover is less than AUD $400 000 per annum.
    b. 30 per cent of the business where the turnover is AUD $400 000 or more per annum.
    c. 10 per cent where the business is a publicly listed company.
  5. Your (or your and your spouse’s) total assets have a net value of at least AUD $1,500,000, and were legally acquired and are capable of being transferred to Australia within two years of being granted this visa.
  6. You (or your spouse) have never been involved in unacceptable businesses or investment activities and you have a commitment to develop and maintain an ownership interest in a business in Australia and you must maintain direct and continuous involvement in the management of that business.

Venture Capital Entrepreneur Stream

You must have obtained at least AUD $1.0million in funding from an Australian Venture capital firm for the start-up, product commercialization or business development relating to a promising high value business idea.

Benefits of the Business Talent Visa

With this visa you can work in a new or existing business in Australia, travel in and out of Australia any number of times as long as the visa is valid, study in Australia, have your family accompany you to Australia (they will have access to work and study rights) and live in Australia as a permanent resident for five years (after 5 years, you will need to apply for a resident return visa).

Business Obligations

1. Significant Business History stream 

If you are in this stream, after entering Australia, you must:
• Establish a qualifying business in Australia, or
• Participate in an existing qualifying business in Australia.

In the business, you must:
• Maintain substantial ownership.
• Maintain direct and continuous involvement in the day-to-day management of the business.
• Make decisions that affect the overall direction and performance of the business in a way that benefits the Australian economy.

2. Venture Capital Entrepreneur stream 

If you are in this stream, after entering Australia, you must meet the requirements of your venture capital agreement.

Business and Innovation Visa (Investment) – Permanent (Subclass 888)

You can apply for permanent migration with this visa if you are a holder of the provision Business and Innovation (188) Visa in Australia, and have met the immigration requirements prescribed.

Who is eligible for a Business and Innovation Visa?

You need to be the primary holder of a provisional Business Innovation and Investment visa (subclass 188).

NO Expression of Interest, but you do need to:
1. Have met all the requirements of your visa, in the immigration stream in which you first applied.
2. Not have been involved in any unacceptable business or investment activities.
3. Be nominated by an Australian state or territory.

Other Requirements for Business and Innovation Visa

Business Innovation Stream

If you are in the Business Innovation stream, you must be in Australia and hold your provisional visa for at least two of the four years immediately before you apply.

In addition, you (or your partner, or you and your partner combined) must:

  1. Have had and continue to have a direct and continuous management role in a main business providing products or services (or two main businesses) in Australia for at least two years immediately before you apply.
  2. Have had a turnover, in that main business providing products or services (or two main businesses), of at least AUD $300 000 in the year immediately before you apply.
  3. Own at least one of the following percentages of that main business (or two main businesses):
    • 51 per cent of a business with a turnover of less than AUD $400 000 per annum, or
    • 30 per cent of a business with a turnover of more than AUD $400 000 per annum, or
    • 10 per cent of a publicly-listed company.
  4. Not have acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.
  5. You (or your partner, or you and your partner combined) must also meet two of the following criteria:
    • The net value of your assets in the main business (or two main businesses) in Australia is at least AUD $200 000 throughout the year immediately before you apply.
    • The net value of your personal and business assets in Australia have been at least AUD $600 000 throughout the year immediately before you apply.
    • You employed, in your main business (or two main businesses), throughout the year immediately before you apply, at least the equivalent of two full-time employees who are:
    a.  Australian citizens, or
    b.  Australian permanent residents, or
    c.  New Zealand passport holders, and
    d.  Not your family members.

Investor Stream

If you are in the Investor stream, you (or your partner, or you and your partner combined) must have:

  1. Held a designated investment with an Australian state or territory for at least four years.
  2. A satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business.
  3. Not been involved in unacceptable business or investment activities.
  4. A strong desire to continue your business and investment activities in Australia.

Benefits of the Business and Innovation Visa

With this visa you can work in your established business in Australia, travel in and out of Australia any number of times as long as your visa is valid, study in Australia, have your family accompany you to Australia who will have the same entitlements as you, and live in Australia as a permanent resident for five years (after 5 years, you will need to apply for a resident return visa).