BUSINESS VISAS

This visa is for people who have a successful business or investment career in their past to recent life, and have a genuine and realistic future commitment to be involved in investing or business in Australia.

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

Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).

Features

This visa allows you to:

  • own and manage a business in Australia (the Business Innovation stream)
  • conduct business and investment activity in Australia (the Investor stream, the Significant Investor stream and the Premium Investor stream).
  • undertake an entrepreneurial activity in Australia (Entrepreneur stream).

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 investment in Australia for four (4) years.
This visa is only granted upon invitation. The applicant is required to submit Expression of Interest through Skill Select at first and can apply for visa after getting an invitation. We can lodge the Expression of Interest (EOI) on your behalf before you can be invited to apply.
The innovation points test for the provisional Business Innovation and Investment (Subclass 188) is a key component of the new program. The points test gives points for various elements of human capital and business innovation. The test also includes objective measures of business performance. It aims to select innovative entrepreneurs who will transfer their skills to Australia and diversify the existing pool of business expertise.
You must be less than 55 years of age, although a state or territory can waive this requirement if your proposed business plan will be of exceptional economic benefit to the relevant region.
You must score at least currently 65 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

The visa includes five streams:

• Business Innovation stream:
for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.

• Investor stream:

for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.

• Significant Investor stream:

for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.

• Premium Investor stream:

for people who are willing to invest at least AUD15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.

• Entrepreneur stream:

for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government.

Business Talent Visa (Subclass 132)

Business Talent subclass 132 is a Permanent visa and has two streams:

  1. The Significant Business History stream is for the owners of large businesses who would like to have a senior management role in a new or established business in Australia.
  2. The Venture Capital Entrepreneur stream is for high-caliber businesspersons who have access to Venture capital funding of at least AUD 1 million

This permanent visa is designed for high caliber 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 caliber 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 business career.
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 AUD1.5 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:

• 51 per cent of the business where the turnover is less than AUD400 000 per annum
• 30 per cent of the business where the turnover is AUD400 000 or more per annum
• 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 $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 business 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)

The Business Innovation and Investment is the second stage of the Business Innovation and Investment visa (subclass 188). 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.

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 activity 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).

Other Requirements for Business and Innovation Visa

Business Innovation Stream

If you are in the Business Innovation stream, you must have been in Australia and held 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
have had a turnover, in that main business providing products or services (or two main businesses), of at least AUD300 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 AUD400 000 per annum, or
• 30 per cent of a business with a turnover of more than AUD400 000 per annum, or
• 10 per cent of a publicly-listed company
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.
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 AUD200 000 throughout the year immediately before you apply
• the net value of your personal and business assets in Australia has been at least AUD600 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:

  • Australian citizens, or
  • Australian permanent residents, or
  • New Zealand passport holders, and
  • Not your family members.

MIGRATION TEAM – OZ CONSULTANCY

Australian Education, Migration and Business Consultants