The business innovation and investment program offers an ideal route to permanent residency in Australia. As the most popular business immigration program, the stream is designed to encourage investment into Australia while allowing high net-worth investors and entrepreneurs to permanently settle in the country.
The Business Innovation and Investment Program accepts applications under three subclasses. Each subclass has its own requirements and eligibility criteria which applicants must meet in order to qualify:
BUSINESS INNOVATION STREAM (PROVISIONAL) VISA (SUBCLASS 188)
This is a provisional visa aimed at attracting people with excellent business skills. The stream allows the holder to run and manage their own business in Australia.
In order to apply, you must:
- Score at least 65 on the points test
- Provide proof of your business success (annual turnover, ownership stake)
- You, your partner, or you and your partner together, have total net business and personal assets of at least AUD800, 000.
- Be nominated by an Australian state or a territory government in Australia.
The visa category requires applicants to make a designated investment in an Australian state or a territory. It also allows investors to carry on with their business activities after their invested amount is matured.
The business innovation stream is also comprised of the Extension Stream for applicants having an ownership interest in more than one businesses that are fully operational in Australia, and would like to extend their stay in Australia for two years.
BUSINESS INNOVATION AND INVESTMENT (PERMANENT) VISA (SUBCLASS 888)
This is yet another business visa Australia designed for the holders of subclass 188 visa. The Business Innovation and Investment (Permanent) visa (subclass 888) allows entrepreneurs and investors to continue with their business activity in Australia. Investors may apply for this visa after they fulfil all requirements of the subclass 188 visa.
BUSINESS TALENT (PERMANENT) VISA (SUBCLASS 132)
The Business Talent Visa Subclass 132 is an Australia investment program for high-calibre business migrants seeking a permanent move to Australia. The holders of subclass 132 visa are eligible to either establish a new business or buy an existing business in Australia. It has two streams:
The business visa Australia requirements under the Business Talent Visa Subclass 132 are described as follows:
- be nominated by an Australian state or territory government agency
- be invited to apply for the visa
- have the required funding or assets
Significant Business History stream: created for successful investors or experienced business owners willing to operate a new or buy an existing business in Australia.
Venture Capital Entrepreneur stream: for people who have already sourced venture capital funding from an authorized representative of Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL).
How Abhinav Can Help?
Migrating to Australia under the business and investment category is a confusing process due to lots of steps and documentation process involved. Our immigration consultants at Abhinav are efficient at handling Australia business migration cases, therefore, understand all factors involved to process a visa application under the business investment. So, don’t hesitate to call or drop us an email to learn how we can assist you.
Helen Allen – May 19, 2020:
What is the minimum investment required under the 132 venture capital stream visa for Perth please?