Australia’s thriving and vibrant business landscape make it a sought-after destination for business leaders all over the world. The economy has enjoyed consistent growth for more than 20 years and counting. The political climate is stable, infrastructure is excellent and prospects for the future are good. The government is serious about establishing more pro-business policies. The proximity and ease of access to the Asia Pacific further make Australia an advantageous place for expanding your market.
If you’re looking to access the various business-making opportunities in Australia, it’s important to apply for the right visa and meet the legal requirements for business owners or investors. If you’re interested in coming to Down Under to build a business, the following are some must-know information about applying for an Australian business migration visa:
Business Innovation and Investment Programme
Entrepreneurial activity drives economic growth. That is why Australia established the Business Innovation and Investment Programme – to encourage successful business migrants to live and do business in Australia, and make a significant contribution to the country’s economic growth.
The Business Innovation and Investment Programme consists of three subclasses:
- Permanent Business Talent visa (subclass 132)
- Provisional Business Innovation and Investment visa (subclass 188)
- Permanent Business Innovation and Investment visa (subclass 888)
Business Talent Visa
The Permanent Business Talent visa is suitable for you if:
- You are an owner or part-owner of a business overseas.
- Your net business and personal assets are worth at least AU$1.5 million and your business has at least AU$3 million in yearly turnover, or you have a high-value business idea that acquired at least AU$1 million development funding from venture capitalists.
Provisional Business Innovation and Investment Visa
Getting a provisional visa is the first step to applying for a Permanent Business Innovation and Investment visa.
- To be eligible to apply for this visa, you’ll need a nomination from a state or territory government in Australia.
- To get a nomination, you must submit an expression of interest to the SkillSelect program under the Department of Immigration and Border Protection (DIBP).
- After sending your expression of interest, you can either wait for a state or territory government to invite you for a visa application, or you can reach out to them directly.
- The state or territory government will then check if you meet their requirements and may ask you to submit supporting documents. If granted, provisional visas are valid for four years.
- You will have to invest from AUD$800,000 up to AUD$15million, depending on the stream you apply for (see below in permanent visa), either to create a business or to maintain complying investments.
Permanent Business Innovation and Investment Visa
This visa has three main streams:
- Business Innovation stream, if you’re looking to continue operating as a business owner;
- Investor stream, if you want to take part in business and investment activities;
- Entrepreneur stream, if you seek to continue to engage in entrepreneurial activity in Australia.
Doing Business in Australia
If you need to register a company, you’ll have to approach the Australian Securities & Investments Commission. If you would like to get information and support for your small business, business.gov.au is a good resource. Meanwhile, the Australian Business Licence and Information Service is your go-to place for government permits and licenses.
Every business is unique, and so the requirements and resources you need to build and operate your venture in Australia will depend on the specific characteristics of your business. To address the specific conditions of your case, it’s crucial to get honest advice and get your Australian visa applications right with the assistance of experienced migration experts.
Need assistance with your business visa application?
Contact our experienced migration agent for a consultation to get your business visa process started or give us a quick call +61-2 9188 9616, we’re based in Sydney, Australia.
Visa consultations are available via phone, in-person or Skype.