A Subclass 188A Business Innovation Stream allows you to own and run a business in Australia. This is not a permanent visa but provides a pathway to permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888).
Visa period: Four years and three months
Main Criteria For Business Innovation Stream
• You must be under 55 years old or you are proposing to establish or participate in business or investment activity that the nominating State or Territory government agency has determined is of exceptional economic benefit to the State or Territory in which the agency is located.
• Your score on the business innovation and investment points test must not be less than 65.
• You must demonstrate that there is a need for you to be resident in Australia to establish or conduct the proposed business activity.
• You must have overall had a successful business career.
• For at least 2 of the 4 fiscal years immediately before the time of invitation to apply for the visa, you had an ownership interest in one or more established main businesses that had an annual turnover of at least AUD 750,000 in each of those years.
Whether you have 1 or 2 businesses, you must own at least:
• 51%, of the total value of the business if the business has a turnover of less than AUD400,000 per year
• 30%, of the total value of the business if the business has a turnover of AUD400,000 or more per year, or
• 10%, of the total value of the business if the business is operated by a publicly listed company
• If you were engaged in one or more businesses providing professional, technical or trade services for at least 2 of the 4 fiscal years immediately before the time of invitation to apply for the visa, you must have been directly engaged in the provision of the services, as distinct from the general direction of the operation of the business, for no more than half the time spent by you from day to day in the conduct of the business.
• At the time of invitation to apply for the visa, the business and personal assets of you, your spouse or de facto partner, or you and your spouse or de facto partner together, that can be applied to the establishment or conduct of a business in Australia have a net value of at least AUD 1,250,000.
• The nominating State or Territory government agency must be satisfied that the net value of the business and personal assets of you, your spouse or de facto partner, or you and your spouse or de facto partner together, other than the business and personal assets mentioned in previous clause, is sufficient to allow you and your spouse or de facto partner to settle in Australia.
• The business and personal assets of you, your spouse or de facto partner, or you and your spouse or de facto partner together must be lawfully acquired; and are available for transfer to Australia within 2 years after the grant of a Subclass 188 visa.
• You must genuinely have a realistic commitment to establish a qualifying business in Australia; or participate in an existing qualifying business in Australia.
• You must genuinely have a realistic commitment to maintain a substantial ownership interest in the qualifying business mentioned in previous clause and maintain a direct and continuous involvement in the management of the qualifying business from day to day, and in the making of decisions that affect the overall direction and performance of the qualifying business, in a manner that benefits the Australian economy.
• You and each member of your family unit must satisfy health and character requirements.
The Australia Investor Stream Visa is a residency-by-investment program that requires a financial commitment of at least AUD 2,500,000 that must be invested according to determined proportions. Its processing is currently over 20 months and may lead to Australian citizenship after 5 years.
ADVANTAGES
• Ability to work, live or study in Australia
• Safe living environment and one of the highest standard of living in the world
• Ability to bring eligible dependents:
o Spouse or de facto partner
o Dependent children under 18
o Dependent children between 18-23 years old
• High standard education and healthcare systemA
• No English requirement
• Secure investment through government bonds
• Pathway to Citizenship
o Provisional > Permanent > Citizenship
INVESTMENT OPTIONS
• Make an investment of at least AUD 2.5 million in the following proportions:
o at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
o at least AUD750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
o a ‘balancing investment’ of at least AUD1.25 million in managed funds
• The investment must be held for at least 5 years from the date of its issue in the nominating State or Territory.
• The investment may be changed, but if withdrawn, the visa will be cancelled
REQUIREMENTS
• Investment of at least AUD 2.5 million in an Australian State or Territory for at least 5 years
• Have business and personal net assets of at least AUD 2.5 million*, owned by the applicant and/or spouse, in the 2 fiscal years preceding the filing date with evidence
• Have at least 3 years’ experience managing one or more qualifying businesses or eligible investments
• Be under 55 years of age (exemption can apply)
• Score at least 65 on the points test
• You and all family members included in the application must meet Australian health and character requirements
• Have a genuine intention to live for at least 2 years in the state or territory in which you have made a designated investment
• In at least 1 out of the 5 fiscal years prior to submission, the applicant and/or spouse have:
o managed a qualifying business which the applicant holds at least 10% ownership interest; or
o managed ‘eligible investments’ of at least AUD 1.5 million
PROCESS
• Submit an Expression of Interest (EOI) via “Skill Select” online service in order to be nominated by a State or Territory Government
• Upon receiving a nomination from a State or Territory government and an invitation to apply, submission of an online visa application within 60 days
• Upon approval-in-principal of the visa application, the investor will be advised when to make the complying investment
• Upon making the complying investment, the temporary visa will be issued
• The visa has a duration of up to 5 years with a minimum physical residency requirement
The Australia Significant Investor Visa (SIV) is a residency-by-investment program that requires a financial commitment of at least AUD 5,000,000 that may be invested in a wide range of acceptable investments. It is currently processed between 12-24 months and may lead to Australian citizenship after 5 years.
ADVANTAGES
• Ability to work, live or study in Australia
• Safe living environment and one of the highest standard of living in the world
• High standard education and healthcare system
• Ability to bring eligible dependents:
o Spouse or de facto partner
o Dependent children under 18
o Dependent children between 18-23 years old
• No English language proficiency required
• No points test to satisfy
• No upper age limits
• Ability to extend provisional visa once for up to 4 years, giving a maximum of 9-year provisional visa
• Pathway to Citizenship
• Provisional visa > Permanent visa > Citizenship
INVESTMENT OPTIONS
• Make a complying significant investment in the following proportions and have a genuine intention to hold that investment for the duration of the visa:
o At least AUD 1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
o At least AUD 1.5 million in approved managed funds investing in emerging companies listed on the Australian Stock Exchange
o A ‘balancing investment’ of at least AUD 2.5 million in managed funds that may invest in a range of assets
• If the investment is withdrawn, it must be re-invested into another complying investment within 30 calendar days
REQUIREMENTS
• Investments of AUD 5 million must be made into complying investments for the duration of the visa (up to 5 years)
• The applicant must prove that the assets or funds used for the complying investment have been lawfully acquired
• Must meet Australian health and character requirements
• Physical residence for an average of 40 days/year for primary visa holders or 180 days per/year for secondary visa holders before applying for the permanent visa
• Have a genuine and realistic commitment to live in the nominating State or Territory and continue business and investment in Australia
PROCESS
• Submit an Expression of Interest (EOI) via “Skill Select” online service to be nominated by a State or Territory Government, or Austrade
• Upon receiving a nomination from a State or Territory government and an invitation to apply, submission of an online visa application within 60 calendar days
• Upon receiving the approval-in-principal of the visa application, the investor will be advised when to make the complying investment
• Upon making the complying investment, the temporary visa will be issued
• The visa has a duration of up to 5 years (and can be extended up to 9 years) with a minimum requirement for physical residency in Australia
Statistics
Nominations by State and Territory Governments – 2017/18 total activity.
The number of intending migrants who received nominations from State and Territory Governments from 1 July 2017 to the end of August 2017
The top five Citizenship countries for primary applicant grants in a subclass 188 visa (Business Innovation stream) are as follows: China, Iran, Malaysia, Vietnam and Bangladesh. More Info Source: DIBP