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Business Skilled Migration Visas

The Australian Government is keen to attract people who have demonstrated an ability within business either as business owners, senior executives, or as investors. This has led to the class of visas dealt with under the Business Skills Program.

 

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

This visa is designed for people who have a successful investment or business career as well as a genuine commitment in being involved with business or investment within Australia. This visa can be used as a first step to gaining a permanent Business Skills visa, and applicants must submit an Expression of Interest (EOI) before an invitation to apply can be granted.

Applicants must be less than 55 years of age, however if the applicant’s proposed business will be of exceptional economic benefit to the state or territory, the relevant government can choose to waive this requirement. All applicants will need to score at least 65 on the Innovation Points test to be eligible.

Applicants can choose to apply for either the Business Innovation stream or the Investor stream, which have different requirements to fulfil.

Business Innovation Stream

You (or your partner, or you and your partner combined) must have:

  • Complete assets of at least AU$800,000
  • A total annual turnover of at least AU$500,000 in at least two of the four financial years prior to your invitation to apply
  • A successful business career with no involvement in unacceptable business activities
  • A desire to own and maintain a management role within business in Australia
  • Managed a business and spent less than half your time on professional, technical or trade services
  • Owned at least:
    • 51% of a business with revenue of less than AU$400,000 p.a. or;
    • 30% of a business with revenue of more than AU$400,000 p.a. or;
    • 10% of a publicly-listed company

In order to qualify for the Business Innovation Stream visa you will first be required to meet these above criteria. This visa allows the successful applicant to travel to and from Australia for the duration of the visa, have their family accompany them to Australia and be one step closer to permanent residency. It allows renewal for an additional two years however a renewal application must be lodged online and your elected state or territory government must confirm their support for you in writing.

Investor Stream

You (or your partner, or you and your partner combined) must have:

  • A net value of at least AU$2.25 million for the first two financial years immediately prior to your invitation to apply
  • An overall successful history of eligible investment or business activity with no involvement in unacceptable activity
  • A high level of management skills pertaining to suitable investments or eligible business activity
  • At least three years’ experience directly managing one or more qualifying businesses or investments
  • Made sure your designated investment is government-approved prior to being granted a visa

You must also have direct involvement in one of the following:

  • Managing your eligible investments that total at least AU$1.5 million for at least one of the five financial years you are invited to apply or;
  • Managing a qualifying business where you owned at least 10% of the total value of the business for at least one of the five financial years before you are invited to apply.

These above requirements will need to be satisfied in order to qualify for the Investor Stream visa. This visa allows you to travel to and from Australia for the duration of the visa, have your family accompany you to Australia and become one step closer to permanent residency.

Business and Innovation Visa (Permanent) (Subclass 888)

This visa allows permanent migration to Australia if the applicant is a holder of the provisional Business and Innovation Visa (Subclass 188) and has met the necessary requirements.

To apply for this visa, no Expression of Interest is necessary, however you will need to:

  • Have met all requirements of your visa, in the stream you selected when you first applied
  • Have not been involved in unacceptable or illegal business or investment activities
  • Be nominated by a territory or state government in Australia

Other requirements for this visa include:

Business Innovation stream:

  • You have had and continue to have direct and continuous management role in a main business in Australia at least two years prior to your application
  • Have had revenue in that main business of at least AU$300,000 in the year immediately prior to your application
  • You own at least one of the following percentages of that main business:
    • 51% of a business with revenue of less than AU$400,000 p.a. or;
    • 30% of a business with revenue of more than AU$400,000 p.a. or;
    • 10% of a publicly-listed company
    • You have not acquired the ownership of the main business from someone who was an applicant for or a holder of a permanent Business Innovation and Investment Visa (Subclass 888), unless joint interest in the main business was founded for at least one year prior to the lodgement of your application.

The following criteria also needs to be met for yourself, your partner, or yourself and your partner combined:

  • The net value of your assets in the main business in Australia is at least $AU200,000 throughout the year immediately prior to your application
  • The net value of your personal and business assets in  Australia has been at least AU$600,000 throughout the year immediately prior to your application
  • You employed in your main business throughout the year immediately prior to your application at least two full time employees who are:
    • Australian citizens or;
    • Australian permanent residents or;
    • New Zealand passport holders and;
    • Not members of your family

Investor stream:

If you hold a visa in the Investor stream, yourself, your partner or yourself and your partner combine must have:

  • A satisfactory history of complying with Australian laws – including taxation, superannuation and other laws pertaining to your business
  • Held a designated investment for at least four years with an Australian state or territory
  • Not been involved in unacceptable or illegal business or investment activity
  • A desire to continue maintaining your business or investment activity within Australia

For approved applicants, this visa allows you to work in your established business within Australia, to study in Australia, to travel to and from Australia for the duration of your visa, to have your family accompany you to Australia (and have the same entitlements) as well as live in Australia as a permanent resident for a duration of five years. After this time you will need to apply for a resident return visa.

Business Talent Visa (Permanent) (Subclass 132)

This visa is designed specifically for business people who meet high calibre criteria and own or part-own an overseas business, as well as have a genuine commitment in participating in the management of an existing or new business within Australia.

This visa requires sponsorship by a state or territory government in Australia, and requires the applicant to be less than 55 years of age (exceptions can apply) who have an overall successful business career. An Expression of Interest (EOI) must be submitted before you can be invited to apply. You must nominate either the Significant Business History stream or Venture Capital Entrepreneur stream as well as satisfy their relevant requirements before you can be considered for this visa.

Significant Business History stream

To apply for the Significant Business History stream visa, you (and your spouse combined) must:

  • Had net assets in a suitable business of AU$400,000 for at least two of the four financial years immediately prior to applying
  • Had total assets of at least AU1.5 million that can be legally transferred to Australia within two years of approval of your visa
  • Have owned at least:
    • 51% of a business with revenue of less than AU$400,000 p.a. or;
    • 30% of a business with revenue of more than AU$400,000 p.a. or;
    • 10% of a publicly-listed company
    • Total assets have a net value of at least AU$1.5 million that was legally acquired and can be legally transferred to Australia within two years of approval of your visa
    • Never been involved in unacceptable or illegal business or investment activities, you have a commitment to develop and maintain ownership interest in an Australian business and you must keep direct and continuous involvement for the management of that business
    • The annual turnover of your main business was at least AU$3 million in at least two of the four financial years immediately prior to applying.

Obligations of this visa stream

After entering Australia on the Significant Business History stream you must:

  • Establish a qualifying business in Australia or;
  • Participate in an existing qualifying business in Australia

In your qualifying business you must:

  • Maintain substantial ownership
  • Keep direct and continuous involvement in the everyday management of the selected business
  • Make decisions that affect the overall direction and performance of the business that benefits the Australian economy.

Venture Capital Entrepreneur stream

To be eligible for this stream you must have obtained at least AU$1 million in funding from an Australian Venture capital firm for the set-up, commercialisation or development relating to a valuable business idea.

Obligations of this visa stream

After entering Australia you absolutely must meet the requirements of your venture capital agreement.

The Business Talent Visa (Subclass 132) allows successful applicants to work in a new or existing business within Australia and travel to and from Australia for the duration of the visa. It also allows the successful applicant to study in Australia, have their family accompany them with work and study rights also, and live in Australia as a permanent resident for five years. After this time you will need to lodge an application for a resident return visa.

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The contents of this page are necessarily an abbreviated overview of a very detailed subject. The situation may change as the law can alter quickly and we therefore strongly recommend that you take professional advice about your personal circumstances before placing any reliance on the contents of the website.

Choice Migration Australia Pty Ltd can be contacted by email on info@choicemigration.com.au, by telephone in Australia on 07 5571 0456 (ask for Mofid Bebawy), or by writing to us at PO Box 2121, Southport BC, QLD, 4215 Australia.

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Code of Conduct: View code of conduct ›

The contents of this page are necessarily an abbreviated overview of a very detailed subject. The situation may change as the law can alter quickly and we therefore strongly recommend that you take professional advice about your personal circumstances before placing any reliance on the contents of the website.

Choice Migration Australia Pty Ltd can be contacted by email on info@choicemigration.com.au, by telephone in Australia on 07 5571 0456 (ask for Mofid Bebawy), or by writing to us at PO Box 2121, Southport BC, QLD, 4215 Australia.