Australia Business Visa
- Business innovation and investment (Permanent) visa (Subclass 888)
This visa is the second stage of the Business Innovation and Investment visa; you can apply for it after you have fulfilled the conditions of the provisional (subclass 188) visa. The subclass 888 visa has two streams: the Business Innovation stream, which is for people who own and manage an existing business in Australia; and the Investor stream, which is for people who have a designated investment in a state or territory in Australia and want to maintain an investment and/or business in Australia after the designated investment has matured.
You do not need to lodge an Expression of Interest (EOI) in order to apply under this subclass, but you do need to meet the following requirements:
- Be the primary holder of a provisional Business Innovation and Investment (subclass 188) visa
- Have met all of the requirements of the subclass 188 visa, in the stream in which you originally applied
- Not have been involved in any unacceptable business or investment activities
- Be nominated by a state or territory
- Business innovation and investment visa (subclass 188)
TThis visa subclass has two streams: the Business Innovation stream, which is for applicants who wish to own and manage a new or existing business in Australia; and the Investor stream, which is for applicants who wish to make a designated investment in a state or territory and want to maintain business and investment involvement in Australia once the original investment has matured. Applications in this category are by invitation only. In order to be invited to apply under this category, applicants must meet the following requirements:
- Have lodged an Expression of Interest (EOI)
- Be nominated by a state or territory government
- Be less than 55 years of age
- Have a successful investment and/or business history
- Have sufficient personal and business assets
- Score at least 65 points on the innovation points test.
Points on the innovation points test are awarded for a variety of factors, including age, English language ability, qualifications, business and investment experience, business turnover and innovation. Occasionally the nominating state or territory can award an applicant with an additional 10 points if they believe that the proposed business will be of exceptional benefit to them.
Other requirements for this visa category depend on whether you choose the Business Innovation or Investor stream. Once you have obtained this visa, you and your dependent family members are able to travel in and out of Australia for up to five years, and to eventually apply for permanent residence.
- Business Talent visa (Sub-class 132)
Business Talent (Migrant) (Sub-class 132) visa is a part of Australian Business Program which introduce to improve Australian economy. This visa is available by invitation only. Before proceedings to obtain this visa you are initiated by submit a profile through an Expression of interest – EOI on Skill select platform. While filing an EOI choice of sponsoring state can be indicated where you are interested in only one or all state and territories of Australia.
This visa is available under 2 categories :
- Significant business history class for the affluent business owner with substantial financial credential and with an intent to establish and run their newly established corporate or take over an existing concern.
- Venture capital entrepreneur for migrants who have been able to source funds in tune of minimum of AUD 1 million from an Aussie venture capital organization.
This visa will permit you to :
- This visa grants permanent residence status and work permission of Australia
- Travel in out of borders for 5 years
- Include family in the application for visa
- Set-up a new or acquire an ongoing business in Australia
The following requirements needs to be shown to be eligible for the permanent Business Talent (Migrant) Visa to Australia :
- You have a sponsor or been sponsored by a State/Territory government.
- You must be aged less than 55 years at time of application, or you are proposing to establish or participate in a business that your sponsoring State/Territory has determined is of exceptional economic benefit to the State or Territory.
- You must have an overall successful business career.
- For at-least 2 (Two) of the last 4 (Four) fiscal years immediately before the application is made, you had an ownership interest in a main business / businesses with an annual turnover of at least AUD 3 million (every year).
- For at least 2 (Two) of the last 4 (Four) fiscal years immediately before the application is made, you (or you and your spouse together) have net assets in a qualifying business (in which you held an ownership interest) of at least AUD 400,000.
- You have to maintain substantial ownership interest, and be involved in the day to day management of the business.
- You or your spouse must have not any history of involvement in business or investment activities of a nature not generally acceptable in Australia.
- You must have a genuine intension and realistic commitment to establish or participate actively in a qualifying business in Australia and to maintain and hold a substantial ownership level.
In order to satisfy labour market shortages, the Department of Immigration and Border Protection (DIBP) has set specific basic requirements for people who are interested in applying under the Skilled Migration Stream.
To qualify for skilled migration, applicants (or their partner) must be able to satisfy the basic visa requirements related to age, English language ability, occupation, skills, qualification, health and character. In addition, applicants for a Skilled Regional Sponsored visa (Subclass 489) must obtain sponsorship from a participating State or Territory government and pass a points test. Points can be claimed in areas related to age, English language ability, specific work experience, spouse skills and other bonus categories.
The current pass mark for the Skilled Regional Sponsored visa (Subclass 489) is 60 points.
To be sponsored by a relative, an applicant's relative must live in a Specified Regional Area of Australia* and be either:
- an Australian citizen;
- an Australian permanent resident; or
- an eligible New Zealand citizen.
The applicant (or their spouse) must be related to their sponsor as either:
- a non-dependent child - including a natural, adoptive or step-child;
- a parent - including adoptive or step-parent;
- a brother or sister - including adoptive or step-siblings;
- a niece or nephew - including adoptive or step-niece or nephew; or
- an aunt or uncle - including adoptive or step-aunt or uncle.
- Western Australia - everywhere.
To be nominated by a State or Territory government, applicants must satisfy specific criteria, as set by the particular State or Territory. These may include:
- having an occupation on the skills shortage list in that State or Territory; or
- demonstrating specialised skills in an area of need.
- Investor Retirement Visa (Subclass 405)
The Investor Retirement visa, subclass 405, is a visa for self funded retirees who have no dependants and who want to reside in Australia during their retirement years.
This visa is a long term temporary residency visa which does not lead to Australian permanent residence or citizenship.
It can though be renewed every 4 years.
The main eligibility requirements are as follows:
- The main visa applicant must be 55 years of age or older. An accompanying partner or spouse can be any age.
- There can be no dependent children or other dependent family members, other than the partner of the main applicant. If married or in a de facto relationship, the partner of the main applicant must have no dependent children or other dependent family members.
- Applicants must have assets valued at least AUD 750,000 (AUD 500,000 if the applicant intends to live in regional Australia – as defined). These assets must be:
- Legally owned and lawfully acquired
- Capable of – and available for – transfer to Australia.
All assets must have been held for 2 years prior to the date the visa application is lodged, unless the assets are related to superannuation and/or an inheritance.
These assets are in addition to the funds required to make the Designated Investment discussed below.
- Applicants must have (individually, or combined with the main visa applicant’s partner or spouse) access to a minimum annual net income of AUD 65,000 (eg. pension and/or investment income). This income requirement is reduced to AUD 50,000 if the applicant intends to live in regional Australia – as defined.
- Applicants for an initial 405 visa must make a Designated Investment of AUD 750,000 (AUD 500,000 if the applicant intends to live in regional Australia – as defined) with the State or Territory which has sponsored the visa application.
- For a renewal 405 visa application the amount of the Designated Investment reduces to AUD 500,000 (AUD 250,000 if the applicant intends to live in regional Australia). There is no change to the required annual net income for a renewal 405 visa application.
Note: A Designated Investment is an interest paying Bond issued by a State or Territory Government in Australia, which is arranged as the final stage in the visa application process.
The funds used to make the Designated Investment are in addition to the assets requirement discussed above.
- Applicants must be sponsored by a State or Territory Government. Individuals intending to apply for a subclass 405 visa should also check the requirements of the State or Territory Government, to ensure there are not additional requirements to be met prior to sponsorship being approved.
- Applicants must have evidence that they hold an adequate health insurance package for the period of the intended stay in Australia.
The subclass 405 visa is a provisional or temporary residency visa, which allows individuals holding such a visa to be in a very attractive tax position – as discussed more fully here. link to Tax in Australia for Investor Visa Holders
It has a validity of 4 years, and before the expiry of the visa another visa must be applied for – this is usually a further subclass 405 visa with another 4 year validity period.
The customary health and character requirements do not usually have to be met for a renewal 405 visa application, save that satisfactory health insurance must have been maintained throughout the period in which the last 405 visa was held.
- Significant Investor Visa
The Australian Government has announced a new visa option for migrant investors coming to Australia.The Significant Investor visa is a new option within the “Business Innovation and Investment (Provisional) (Subclass 188) visa” and the “Business Innovation and Investment (Permanent) (Subclass 888) visa”.
Visa applicants must have to:
- Submit an expression of interest in SkillSelect
- Be nominated by a State or Territory government
- Make investments of at least five million Australian dollars into complying investments.
Visa applicants do not need to satisfy the innovation points test and there are no upper age limits. This visa option features a residence requirement of 160 days spent in Australia over four years while holding the Business Innovation and Investment (Provisional) (Subclass 188) visa.
Visa holders can extend their visa term if they would like to given that they satisfy the extension requirements. They will be allowed to extend their provisional visa by an additional two years, with a maximum of two extensions permitted.
Complying investments for the Significant Investor visa include:
- Commonwealth, State or Territory government bonds
- Australian Securities and Investment Commission (ASIC) regulated managed funds with a mandate for investing in Australia; and
- Direct investment into Australian proprietary companies.
Visa applicants may hold investments in each of the above investment options and may also change between complying investments, provided they meet specified reinvestment requirements.
The investment must be made and held:
- Directly by the applicant or together with their spouse or de facto partner; or
- Through a company where the total amount of issued shares are owned by the applicant or together with their spouse or de facto partner; or
- Through a valid trust where the trustees and beneficiaries include the applicant or their spouse or de facto partner together
- Working holiday visa
The Australian working holiday visa scheme provides a great opportunity for young people aged 18 – 31 to travel round Australia, whilst earning money to help fund their holiday.
The Australia working holiday visa permits applicants to stay for up to 12 months. The visa permits applicants to work to subsidise travel when entering under Australian working holiday visas. However, you may only work for an individual employer for a maximum of 6 months.
You may also study or train for up to 4 months using your Australian working holiday visa. There is also the opportunity to extend the Australia working holiday visas for up to another 12 months by completing 3 months seasonal work; you will be required to provide evidence of this when applying for your second year.Eligibility Criteria
- Aged between 18 and 30
- Hold a valid passport from the following countries:
Belgium, Canada, Cyprus, Denmark, Estonia, Finland, France, Germany, Ireland, Italy, Japan, Korea, Malta, Netherlands, Norway, Sweden, Taiwan or United Kingdom.
Applicants with dependant children are not eligible to apply under this category.
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