AUSTRALIAN BUSINESS INNOVATION STREAM VISA
The Australian Business Innovation Stream (Provisional) visa is a temporary business skills visa that allows successful business people to own a new or existing business in Australia.
The Australian Business Innovation Stream (Provisional) visa is valid for four (4) years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their provisional visa for at least two (2) years.
Australian Business Innovation Stream Visa Basic Requirements
The Australian Business Innovation Stream (Provisional) visa is a temporary visa for successful business owners who are under the age of 55. Applicants are required to demonstrate a successful business career with significant turnover and a commitment to owning a business in Australia. Applicants are required to submit a detailed business proposal with their visa application and demonstrate that they have sufficient assets to settle in Australia.
All applicants are required to lodge an Expression of Interest (EOI) and score at least 65 on the innovation points test.
Australian Business Innovation Stream Visa Entitlements
The Australian Business Innovation Stream (Provisional) visa is a temporary visa valid for up to four (4) years and permits the holder to own (or part own) an Australian business. Immediate family members (such as a partner and dependent children) included on the application are also entitled to live, work and study in Australia.
Upon satisfying certain requirements, Business Innovation Stream (Provisional) visa holders may apply for permanent residence under the Business Innovation and Investment Visa category which may require sponsorship from a participating State or Territory government.
AUSTRALIAN BUSINESS STREAM VISA
The Australian Business Investor Stream (Provisional) visa is a temporary business skills visa that allows successful business people to invest in a new or existing business in Australia.
The Australian Business Investor Stream (Provisional) is valid for four (4) years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their visa.
Australian Business Investor Stream Visa Basic Requirements
Australian Business Investor Stream (Provisional) is a temporary visa for successful business people and investors who are under 45 years of age. Applicants are required to demonstrate a successful record of investment or business activity in a qualifying business or investment. Applicants are also required to demonstrate that they have sufficient assets to settle in Australia. Most notably, prior to the visa being granted, applicants must make a significant designated investment in Australia which is held for four (4) years.
All applicants are required to lodge an Expression of Interest (EOI) and score at least 65 on the innovation points test.
Australian Business Investor Stream Visa Entitlements
The Australian Business Investor Stream (Provisional) visa is a temporary visa valid for up to four (4) years and permits the holder to invest in an Australian business. Immediate family members (such as a partner and dependent children) included on the application are also entitled to live, work and study in Australia.
Upon satisfying certain requirements, Business Innovation Stream (Provisional) visa holders may apply for permanent residence under the Business Innovation and Investment Visa category which may require sponsorship from a participating State or Territory government.
AUSTRALIAN BUSINESS TALENT VISA
The Australian Business Talent visa is a permanent business skills visa that allows the highest calibre of business owners to contribute to the success of a new or existing Australian business. This visa requires State or Territory government sponsorship.
Business Talent Visa Assessment
The Free Visa Assessment from Migration Expert lets you know if you meet the basic requirements to apply for a visa to Australia. To ensure that your assessment gives you a realistic result, ensure that the information you provide is as accurate as possible.
Australian Business Talent Visa Basic Requirements
The Business Talent (Migrant) visa is a permanent visa for the highest calibre of business people who are under the age of 55 (unless exceptional circumstances exist) and have sponsorship from a State or Territory government. Applicants must be able to demonstrate that they have a successful business career and that their main business generated a minimum turnover of AUD$3,000,000 for at least two (2) of the preceding four (4) years. Applicants are required to submit a detailed business proposal with their visa application and demonstrate that they have sufficient assets to settle in Australia.
Australian Business Talent Visa Entitlements
Successful applicants and holders of an Australian Business Talent visa become permanent residents of Australia. Permanent residents are entitled to live, work and study in Australia on a permanent basis. Additional benefits of Australian permanent residence include access to government-subsidised healthcare (Medicare), certain social security benefits and the ability to apply for Australian citizenship.
The Entrepreneur visa is part of the Business Innovation and Investment visa programme which allows applicants to establish a new business or develop an existing business in Australia. The new Entrepreneur stream is available for entrepreneurs who wish to develop and commercialise their innovative ideas in Australia.
Key facts and main requirements for the Business Innovation and Investment (Provisional) visa (Subclass 188), Entrepreneur Stream are as follows:
• Initially a temporary visa for up to 4 years
• Entrepreneurs will require $200,000 in funding from a specified third party to grow a venture in Australia. One or more funding agreements must be in place for at least $200,000 between the entrepreneur or venture and a third party funding body or bodies. The funding agreement must involve the transfer of at least 10% of the funds within 12 months of commencing the activity in Australia.
• Applicants must be under 55 years of age, although a state or territory can waive this requirement if you can prove that your proposed complying entrepreneur activity will be of exceptional economic benefit to the nominating state or territory
• Applicants must be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity
• Applicants must hold at least 30 per cent interest in their entrepreneurial venture
• Applicants must have competent English, the equivalent of an English IELTS score of 6 in each component *an exemption may apply in some cases
• The applicant’s business must be nominated and sponsored by a state or territory government or Austrade on behalf of the Australian government
• An expression of interest (EOI) will need to be submitted
• Applicants must be invited to apply for the visa through the skillselect system
• Applicants must provide a detailed business plan outlining their plans for the venture in Australia
• There is no requirement to show a minimum amount of personal net assets or significant business background
• Applicants may be required to provide evidence of business experience and/or qualifications
• An Entrepreneur visa holder can progress to permanent residency (subclass 888) after four years and in some cases earlier if they can prove business success, this includes factors such as business turnover, employment of Australians and ability to obtain significant financial backing. To qualify for permanent residency, applicants must have also been in Australia on the 188 visa for one year in the two years immediately before lodging the permanent residency application
Most requirements outlined for the Entrepreneur stream apply also for other business investment streams such as the Business Innovation stream, Investor, Significant Investor and Premium Investor streams however applicants must be able to prove that they have at least $800,000 to invest in government shares. A points test also applies for some streams which is based on factors such as age, English language ability, qualifications, business experience, net personal and business assets, business turnover and innovation. Minimum residency requirements also apply in most cases in order to be granted permanent residency.
If you believe you can meet the main requirements outlined for the entrepreneur stream or other streams specified please contact us to arrange an in-depth migration assessment and confirm eligibility with our Business Investment visa Specialist.
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