Which Type Of Business Visa Australia Suits You?
There is many type of business visa Australia created to support the nation’s ongoing growth.
Australia needs international business-minded migrants. Australia is an ideal investment destination with close links to the Asia-Pacific region and a robust economy.
Australian Business migration visas are one of the options available for international business community wanting to expand their business in Australia, and stay here too!
There are a wide range of Australian Business visa options available for migrants wanting to open a business, or just invest, in Australia.
Australian Business visas are state-nominated and, therefore, required nomination by a state or territory government or the relevant agency. This basically means that the state government must nominate you the businessman before business visa application can be done.
As such, as an business visa applicant, you must meet both state nomination criteria as well as the Department of Home Affairs eligibility criteria.
In general there are small number of business visa under the business migration program. However, each subclass offer numerous stream which may confuse lay-people.
Various type of Business Visa Australia for Businessman or Businesswoman who wish to migrate to Australia under this class are below:
Type of Business Visa Australia #1 – Business Innovation and Investment (subclass 188 provisional and subclass 888 permanent)
This is a two-step pathway to permanent residency. First you apply for a provisional subclass 188 visa and after four years, you can apply for a permanent subclass 888 visa. There are five different streams in this program, and Immigrations and State nomination requirements differ for each stream.
- Visa for Business Innovation: business owners – businessman who want to relocate their overseas business or establish a new business in an Australian state or territory. You must have total net business and personal assets of at least AUD 800,000, under 55 years of age, and score at least 65 on the points test.
- Investor: successful investors or business owners or businessman willing to invest a minimum AUD $1,500,000 in an Australian state or territory for four years. You must have total net business, investment and personal assets of at least AUD2.25 million, under 55 years of age, and score at least 65 on the points test.
- Visa for Significant Investor: for businessman willing to benefit an Australian state or territory and invest $5 million into a complying investment for four years. There are investment proportions to be followed which includes venture capital and growth private equity funds and approved managed funds.
- Visa for Premium Investor stream – This stream is for talented entrepreneurs and innovators who are nominated by the Australian Trade and Investment Commission, or Austrade, and make a complying investment of at least AUD15 million in Australia and hold them for at least 12 months. You must have net assets of at least AUD15 million. These assets could belong to you, your partner, or you and your partner combined.
- Visa for Entrepreneur – 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.
To be able to apply for the Australian Business Visa subclass 888 permanent, you must have hold a four-year provisional subclass 188 visa and applied through the same stream that you originally applied for during the subclass 188 visa regardless of the stream.
This permanent visa will allow the holder to continue their activity in Australia. Eligibility to apply for subclass 888 permanent varied depending on the 188 stream.
Type of Business Visa Australia #2 Business Talent – subclass 132
This second type of Business visa Australia allows you to establish a new or develop an existing business in Australia. The Significant Business History stream, especial, attracts high caliber business owners who have a proven successful business record and want to do business in Australia.
As a business owner and entrepreneurs, once your visa application has been granted, you will be able to live in Australia. You must demonstrate that you have a genuine and realistic commitment to continuously maintain an ownership interest and participate in the daily management of their business.
There are two stream under this subclass:
- Significant Business History: high level business owners who want to undertake significant business activity providing either, employment, exports or high level investment. Once the visa is granted, the applicant must operate a new or existing business in Australia, the Department of Home Affairs will generally conduct a review after two years. To be able to be eligible for this stream you must have assets worth AUD1.5 million and business turnover of AUD3.0 million
- Venture Capital Entrepreneurs: people who have obtained at least AUD$1 million in agreed funding from an Australian venture capital firm, which is also a member of The Australian Private Equity and Venture Capital Association Limited (AVCAL), to develop an innovation to a commercial stage.
For people who already hold a subclass 160, 161, 162, 163, 164 or 165 visa and who have owned or operated a business in Australia for at least 2 years, there are options Subclass 890 and Subclass 892.
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Know The Right Visa
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Discover a migration pathway tailored to your background and future plan with ONE derland Consulting. Fill the form below to know which visa best suited for your migration aspirations.
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