Business

In July last year the investment visa regime in Australia was significantly changed.

Provisional visas allow the visa holder to settle in Australia for the purposes of establishing a business. These visas are intended for people who can demonstrate that they have a significant business career and who are willing to obtain a substantial ownership interest in a new or existing business in Australia. All applicants for business skills visas, with some exceptions, must first apply for a provisional business visa. After successfully operating a business, or maintaining an investment, for between 2 and 4 years such people are eligible to apply for a permanent business skills visa.Under the new scheme applicants will first need to be nominated by an Australian State or Territory or be invited to apply.

There are three streams under the new Business Innovation and Investment (Provisional) subclass 188 visa:

  • 1. Business Innovation stream- for those who want to establish a new or develop and existing business in Australia.
  • To be eligible to apply you must:
  • - be under 55
  • - score at least 65 points on the Innovation Points test
  • - have a turnover of at least $500,000 in at least two of the last four years prior to application
  • - have managed a business, in which you spent less than half of your time on professional, technical or trade services
  • - have a genuine desire to own and maintain a management role in a business in Australia
  • 2. Investor stream - for those people willing and able to make a significant investment with an Australian state or territory.
  • To be eligible you must:
  • - be under 55
  • - score at least 65 on the Innovation Points test
  • - have a high level of management skill in relation to eligible investments or qualifying business activity
  • - have total assets of at least $2.25 million for the two years immediately before you are invited to apply
  • - be prepared to make a designated investment of at least $1.5 million in government approved funds
  • 3. Significant investor stream - for those who are in a position to invest upwards of $5 million in Australia.
  • To be eligible you must:
  • - be prepared to invest at least $5 million in one of a number of "complying" investments which can include government bonds, listed equities, regulated managed funds or by obtaining an ownership interest in a qualifying business in Australia.

Each state and territory in Australia has its own office to support prospective migrants. Different rules and application procedures apply. All authorities will look for a genuine commitment to settle in the state or territory. Clicking on each of the territories below will take you to the relevant site for each region.

At IMSVISA we can work with you to help you identify the right region for you and will work with the relevant agencies to assist you in putting forward the best possible applications and business plans to obtain a nomination. Enquire now for more information.

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