Can I get PR if I buy a business in Australia?
The government of Australia gives opportunities to foreign investors and entrepreneurs to start their business in Australia and obtain permanent residency status. The Business Innovation and Investment Program (subclass 888) allows individuals to undertake investment or business activities in Australia. Interested applicants must meet the basic eligibility requirements for the subclass 188 visa through the following streams:
- Business innovation stream; or
- The investor stream
Basic Eligibility Requirements for Subclass 188 Visa
From July 1, 2021, several fundamental changes applied to the Business Innovation and Investment program. Under the business innovation stream, the applicant must:
- be under 55 years old;
- score 65 points or higher
- be nominated by a State or Territory agency;
- Lodge an Expression of Interest and be invited for the visa
- have personal and business net assets of AUD800,000;
- Be genuinely interested in establishing a business in Australia.
The Business Innovation and Investment Australia business visa is a two-stage process, with a provisional visa (subclass 188) first and then a permanent visa (subclass 888).
Key Changes to Know
Please find an overview of the changes implemented by the government of Australia on the Business Innovation and Investment program from July 1, 2021.
| Subclass 188 visa
| About the visa | Changes from July 1, 2021
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| Business Innovation
Investor Stream
Significant Investor
Entrepreneur Stream
Premium Investor
| For applicants planning to buy a new or operate an existing business in Australia.
It’s a temporary visa that requires you to invest at least AUD2.5 million in Australian investments. The holders of this visa can carry out business activities in Australia for two years.
A provisional visa allows you to invest a minimum of AUD5 million into a complying business in Australia. The visa holder must hold the investment for at least five years. Visa is valid for five years with an opportunity to extend twice.
Designed for start-up and early-stage entrepreneurs who have the endorsement to build an innovative business in Australia.
For people nominated by Austrade, and have investments of at least AUD15 million for Australian investments and/or philanthropic contributions. | AUD1.25 million if you were invited to apply on or after July 1, 2021. AUD800,000 if you were invited to apply before July 1, 2021 AUD750, 000 turnovers in each of those 2 years if you were invited to apply on or after July 1 2021.
Eligible investments of at least AUD 1.5 million have a net business, investment, and personal assets of at least AUD2.5 million
be invited to apply for this visa be nominated by a State or Territory government invest at least AUD5 million in a qualifying business
You must have a funding agreement with a third party to carry out entrepreneurial activities Submit a valid business plan.
You must invest AUD15 million in Australian investments and/or philanthropic contributions that meet specific requirements. Be nominated by Austrade.
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The pathways mentioned above lead to an Australia PR visa with minimum hassles, provided you must meet the basic eligibility requirements. To learn more, call one of our immigration agents and get the right answers to your questions.
To know more about Business Visa Australia, you can write us at [email protected] and our expert team of experts will get in touch with you to resolve your queries. You can even give us a ring on (+91) 859 533 8595 or directly interact with our expert Visa Consultants through our Live Chat window.
