Business Migration Visa
The Australian government is encouraging businessmen, high net worth individuals and venture capital firms who have established business enterprises and/or are keen to invest in Australia by granting them a business visa which allows them to migrate to Australia and set up businesses or invest in businesses in Australia.
A business visa is granted to an applicant with a strong business background and career until the age of 55 years.
Business Innovation and Investment (Provisional) Visa (subclass 188)
There are 5 different types of Business Innovation and Investment (Provisional) Visas:
(i) 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.
(ii) Business Innovation Extension Stream: for holders of the Business Innovation Stream who wish to extend their stay for a further 2 years which means that the stay in Australia will total 6 years from the date of the grant of the visa subclass 188 in the Business Innovation Stream. Once must have held a Business Innovation Stream visa for 3 years. Applicants must be nominated by a state or territory government.
(iii) Investor stream: for people who want to make a designated investment of at least $AUD1.5 million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
(iv) Significant Investor stream: for people who are willing to invest at least $AUD5 million 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.
(v) Significant Investor Extension Stream: for holders of the Significant Investor Stream visas who wish to extend their stay for a further 4 years which means that the stay in Australia will total of 8 years from the date of the grant of the visa subclass 188 in the Significant Investor Stream. One must have held a Significant Investor Stream visa for 3 years. Applicants must be nominated by a state or territory government or by Austrade.
(vi) Premium Investor stream: for people who are willing to invest at least $AUD15 million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Austrade will make the initial contact with suitable candidates for nomination on behalf of the Australian government.
(vii) Entrepreneur stream: for people who have a funding agreement from a third party for at least $AUD 200,000 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.
A Business Innovation and Investment (Provisional) Visas is valid for 4 years and 3 months and is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).
You must score at least 65 points (the pass mark) in the points test to be eligible to apply for a Business Innovation and Investment (Provisional) visa.
The points test does not apply to the Significant Investor stream, the Premium Investor stream, the Entrepreneur stream, the Business Innovation Extension stream, or Significant Investor Extension stream.
Points are awarded for:
- Age
- English language ability
- Qualifications
- Experience in business and net worth
- Net personal and business assets
- Business turnover
- Innovation
- Special Endorsement
If an Applicant of a provisional business visa has been resident in Australia for a certain period of time and complied with the requirements of his/her provisional visa, then it is possible for the Applicant to apply for a permanent resident business visa without the need to leave Australia.
Business visa applicants are required to undergo health check examinations and furnish a police clearance certificate prior to the issuing of the business visa.
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You may be eligible for a number of different visa categories and each has different requirements and obligations so that it is best to seek professional advice in order to select the visa most beneficial to you and suitable to your circumstances.
Kangaroo Migration Services is a company that has for many years dealt with and continues to deal with immigration and the obtaining of all types of visas (short term and long term) to Australia.
Please feel free to contact us to discuss with our representative the options available to you and/or to complete our questionnaire and send it to us.