Under the Business Innovation and Investment visa programme, people with backgrounds as business owners or investors can be nominated by a State or Territory Government for a Provisional (temporary) visa in the first instance. After satisfactory evidence of a specified level of business or investment activity in Australia, business innovation and investment (Provisional) visa holders can apply for permanent residence.
High-calibre business migrants or entrepreneurs with venture capital funding, nominated by a state or territory government, may obtain up-front direct permanent residence under the Business Talent (Permanent) category.
Out of the available Business Migration pathways, the more popular pathway is entering Australia under the Subclass 188. Under this subclass, you will firstly migrate as a temporary resident. Upon satisfying the requirements, you will be granted permanent residency.
The Subclass 188 visa includes four streams:
Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
Significant Investor stream: for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
Premium Investor stream: for people who are willing to invest at least AUD15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
The direct permanent visa pathway via Subclass 132
Affluent business migrants who can demonstrate a high level of business attributes can gain direct permanent residence with the subclass 132, “Business Talent” visa. The special attraction of this visa is the ability to operate your existing business in your own country while owning and managing the business in Australia. There are 2 streams for entry under this subclass. They are;
• Significant Business History stream
• Venture capital Entrepreneur steam
For all these subclass/streams, there are certain criteria such as age, pass marks, overall successful business career, level of turnover and amount of business assets etc., that need to be satisfied. There are also other pathways to invest in Australia and gain the permanent residency, if you do not satisfy prerequisites for the two subclasses mentioned above. Trans Aus Migration can provide more details on these avenues.
Proceed with care
If you have knowledge of Migration Law, ideally with finance background and are familiar with the ground situation in Australia, you can start this process as a “Do It Yourself” project. If it is not the case, then it is best that you engage a competent consultant. A Business Migration advisor should possess an in-depth knowledge about the business process and the law that applies to the selected pathway.
Some of the important aspects in this process include;
• Giving consideration to regulatory requirements that stipulate investment levels for the selected pathway
• Set out business plans and budgets
• Prepare all the relevant supporting documents based on historical business results
• Prepare a comprehensive submission to strengthen your case by justifying presented results and future plans
• Formation of a company and business registration upon granting of business visa
• Fulfilling obligations under sponsorship requirements and providing financials and quarterly Business Activity Reporting to satisfy migration regulations and financial regulations
How can we help?
Trans Aus Migration we have successfully obtained subclass 132 Business Talent Visas for many business people overseas. With the in-house expertise available in Finance, Business & Tax Law combined with Migration Law, we at Trans Aus Migration can boast of 100% success in our previous visa applications. Further our team handles all other business visas successfully.
Please contact us for a consultation.