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INTRODUCTION

The Australian government Business Innovation and Investment Programme aims to increase entrepreneurial talent and diversify business expertise in Australia. It is catered towards foreign nationals that have a demonstrated history of success in innovation, investment and business and can make a significant contribution to the Australian economy.

The objectives of the programme are to contribute to the growth of the Australian economy by:

  • generating employment
  • increasing the export of Australian goods and services
  • increasing the production of goods and services in Australia
  • introducing new or improved technology
  • increasing competition and commercial activity
  • developing links with international markets
  • increasing the dispersal of business migrants across Australia through state and territory government sponsorship.

BUSINESS TALENT (PERMANENT) SUBCLASS 132 VISA

The Business Talent visa is for business persons who are nominated by an Australian state or territory government agent.

Subclass 132 Australian visa applicants must meet the requirements under the specific stream under which they seek to qualify.

Significant Business History Stream

Subclass 132 (Business Talent) visa applicants must be able to demonstrate the following:

  • Total net assets of at least AUD400,000 as the ownership interest in one or more qualifying businesses for two of the four fiscal years immediately before visa applicants are invited to apply, and if the qualifying business(es) were publicly listed entities, a shareholding of at least 10 percent of the total issued capital.
  • Net business and personal assets of at least AUD1.5 million that are legally acquired and can be transferred to Australia within two years after the visa is 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 visa applicants are invited to apply.
  • Business ownership of at least:
    • 51 percent of a business with turnover of less than AUD400,000 per annum.
    • 30 percent of a business with turnover of more than AUD4300,000 per year, or
    • 10 percent of a publicly listed company.
  • An overall successful business career.
  • No involvement in unacceptable business activities.
  • A genuine desire to own and maintain a management role in a business in Australia.

Subclass 132 Business Talen visa applicants must be younger than 55 years of age. It is possible for a state or territory government knowledge to waive the age requirement if the visa applicant’s proposed business activity will be of exceptional economic benefit to the region where it will operate.

Venture Capital Entrepreneur Stream

Under this stream, Subclass 132 Business Talent visa applicants must have received at least AUD 1 million in funding from an Australian venture capital firm.

The funding obtained must be for the start-up, product commercialisation or business development of a high value business idea.

The venture capital firm must be a member of the Australian Private Equity and Venture Capital Associated Limited (AVCAL). Subclass 132 Business Talent visa applicants must have entered into a formal agreement with the AVCAL member firm for the investment funding.


BUSINESS INNOVATION AND INVESTMENT (PROVISIONAL) VISA (SUBCLASS 188)

The Business Innovation and Investment (Provisional) visa (subclass 188 visa) is part of the Business Innovation and Investment Programme.

The Subclass 188 visa includes five qualifying streams:

Business Innovation stream: The Subclass 188 Business Innovation Stream is for Australian visa applicants with business skills who want to establish, develop and manage a new or existing business in Australia. Visa applicants must be nominated by a state or territory government agency.

Investor stream: The Subclass 188 visa Investor Stream is for Australian visa applicants who want to make a designated investment of at least AUD1.5 million into an Australian state or territory and maintain business and investment activity in Australia. Visa applicants must be nominated by a state or territory government agency.

Significant Investor stream: The Subclass 188 visa Significant Investor stream is 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. Visa applicants must be nominated by a state or territory government agency.

Premium Investor stream: The Subclass 188 visa Premium Investor stream is 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. Visa applicants must be nominated by a state or territory government agency.

Entrepreneur stream: The Subclass 188 visa Entrepreneur stream is 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. Visa applicants must be nominated by a state or territory government agency.


BUSINESS INNOVATION AND INVESTMENT (PERMANENT) VISA (SUBCLASS 888)

The Business Innovation and Investment (Permanent) visa (subclass 888 visa) is part of the Business Innovation and Investment Programme.

Australian visa applicants might be able to apply for this visa if:

  • They are the primary visa holder of a provisional Business Innovation and Investment visa (subclass 188) and have met all the requirements of the Business Innovation and Investment visa in the stream in which they first applied; or
  • They are the secondary visa holder who is the spouse or de facto partner of a provision Business Innovation and Investment visa (subclass 188) holder in the Investor or Business Innovation stream and can meet all the primary criteria requirements of the permanent Business Innovation and Investment visa in the relevant stream; or
  • They hold a special category visa (Subclass 444) and have met all the requirements of the business innovation stream.

The Subclass 888 visa includes five qualifying streams:

Business Innovation Stream: Subclass 888 visa applicants must have been in Australia and held:

  • A Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream.
  • A Special Category visa (Subclass 444).

for at least one year in the two years immediately before the Subclass 888 visa application is lodged. In addition, Subclass 888 visa applicants will need to demonstrate ongoing business involvement, meet the financial requirements and have a history of employing Australian workers.

Investor Stream: Subclass 888 visa applicants under the Investor stream must have been in Australia and held a provisional visa in the investor stream for at least two out of the four years prior to the application lodgement. In addition, applicants must have maintained their designated investment with the Australian state or territory government agency for at least four years. 

Significant Investor Stream: Subclass 888 visa applicants must hold a Subclass 188 (Provisional) visa in the Significant Investor stream or in the significant investor stream at the time of visa application.

Subclass 888 visa applicants under the above stream must have been in Australia as the holder of provisional visa (Subclass 188) in the Significant Investor stream or the Significant Investor extension stream for at least 40 days per year for the time the applicant held the provision (188) visa. Alternatively, applicants together with the spouse need to have been in Australia for at least 180 days (cumulatively) on the basis of the period of time the primary applicant held their provisional Subclass 188 visa.

Subclass 188 visa applicants under the Significant Investor visa stream must have:

  • Held complying investments continuously for at least four years as the holder of a Subclass 188 Business Innovation and Investment (Provisional) visa (subclass 188).
  • Operated a qualifying business under the private Australian company in which the applicant has made a direct complying investment (if applicable).

Premium Investor Stream: Subclass 888 visa applicant must hold a provisional (Subclass 188) visa under the Premium Investor stream at the time of application and be nominated by the commonwealth government.

Subclass 888 visa applicants must have held their provisional visa for a minimum of one year. Visa applicants must have held complying premium investments continuously for at least one year, and for the entire time the applicant has held their Business Innovation and Investment (Provisional) visa (subclass 188).

Entrepreneur Stream: Subclass 188 visa applicants under the Entrepreneur stream must have been in Australia and held their provisional visa in the Entrepreneur stream for a continuous period of at least four years immediately before they are invited to apply. Visa applicants must also demonstrate a successful record of entrepreneurial activities in Australia.

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Migration Agent Registration Number 0851787

        

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