Did you know there are a number of ways you can get a permanent visa to live in Australia if you are willing to start/run a business or invest in Australia?
The Business Innovation & Investment Visa program (the business visa program) provides a number of visas for living in Australia.
Why Start a Business in Australia?
Australia is the 11th largest economy in the world. The Australian government runs many programs to support business people. There are tremendous opportunities for experienced business people to achieve double returns or even triple digit returns. Australia has a stable and efficient economy with huge potential. The legal system provides commercial stability and protections around property ownership.
The Business Visa Program
The business visa program helps successful business people and investors migrate to Australia. The program requires that the business person and their business / investment activity be done in Australia. The business visa program is a State or Territory nomination program which means that business visa applicants must get a nomination by a State or Territory government. We can assist you with this. The business visa program has main 3 subclasses of visas:
- Business Innovation and Investment (Provisional) visa (subclass 188)
- Business Innovation and Investment (Permanent) visa (subclass 888)
- Business Talent (Permanent) visa(subclass 132)
Subclass 188 and 888
Subclass 188 is a temporary visa which allows you to remain in Australia for 4 years before then applying for the permanent 888 visa. The subclass 888 visas are for visa applicants who have held and complied with their subclass 188 visa.
Both the subclass 188 and 888 visa have the following streams:
- Business Innovation Stream - for people who want to start and manage a new or existing business in Australia.
- Investor Stream ($1.5million) - for people who are willing to invest into complying investments in Australia and maintain those investment activities.
- Significant Investor Stream ($5million) - for people who are willing to invest into complying investments in Australia.
- Premium Investor Stream ($15million) - for people who are willing to invest into complying investments in Australia.
- Entrepreneur stream ($200,000) - for people who have a third-party funding agreement 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.
Subclass 132 Visa
The subclass 132 visas are for eligible applicants who have demonstrated business talent, gained while running their own business.
The subclass 132 is a permanent visa and has two streams.
- Significant Business History stream - Between you and your spouse, you must have complying assets and business turnover. You must either establish or participate in a qualifying business in Australia.
- Venture Capital Entrepreneur stream - You must have entered into a formal agreement for at least $1 million in funding from an Australian venture capital firm.
Why use Visa & Citizenship Lawyers?
At Visa & Citizenship Lawyers, we guide you through the business visa program with care and diligence.
If required, we can introduce you to financial institutions who offer financial advice regarding the business visa program.
We are also partnered with other experts who’s services you may require such as chartered accountants.
We are your one-stop-shop overseeing the whole of your business visa process.
In Summary, the business visa program is complex. The information provided above is a brief outline of the business visa program. Contact us today to arrange a personalised visa assessment.