Business Short-Stay E-Visa

Information coming soon…

188 Business Innovation and Investment (Provisional)

This visa is open to people intending to establish a new business or manage an existing business in Australia or who wish to invest in Australia. This is a four- year provisional visa. Provided that you meet qualifying criteria during the provisional period, you may be eligible to apply for permanent residency under the subclass 888 visa.

For the Business, Investor and Entrepreneur schemes you must generally be under fifty- five years of age. Applicants under the Business Owner and Investor Streams must get more than 65 points (based on factors such as age, financial assets and skills) in the points assessment

The visa is comprised of 5 streams, all of which require state or territory government nomination.

1. 188 Business Innovation Stream– you must have a genuine and realistic commitment to be involved as an owner of a new or existing business in Australia and have had an overall successful business career, net business and personal assets of at least $800,000 and a business turnover of at least $500,000 in at least two of the last four financial years.
2. 188 Investor Stream– you must have at least three years experience of direct involvement in an eligible investment, make a designated investment of $1,500,000 into a State or Government bond for a four- year period and have net business and personal assets of at least $2,250,000.
3. 188 Significant Investor Stream– you must have at least $5,000,000 available to invest in complying significant investments in Australia.
4. 188 Premium Investor Stream– you must be nominated by Austrade and have at least $15,000,000 available to invest in Australia or who make philanthropic contributions that meet government requirements.
5. 188 Entrepreneur Stream– this is for entrepreneurs seeking to undertake entrepreneurial activity in Australia and who have an Australian funding agreement of at least $200,000 and a viable business plan.

188 Extension streams. Applicants under the Business Innovation and Significant Investor Streams can apply to extend the length of their provisional visas. In the case of Business Innovation visa holders, they can extend their visas by a further two years having held the 188 visa for at least three years. The purpose of the extension is to enable Business Owners to meet the qualifying criteria to apply for permanent residency.

Significant Investor Stream visa holders can extend their provisional visa by another four years, allowing a total maximum stay of eight years.

888 Business Innovation and Investment (Permanent) Visas

This visa is available if you hold a 188 visa and have met qualifying requirements while operating your business / investing your funds in Australia. The requirements for each of the five streams are;

888 Business Innovation Stream

This is the pathway to permanent residency for holders of 188 Business Innovation visas.

To be eligible you must in the 2 years before applying have and continue to have an ownership interest in up to two main businesses in Australia and maintained a continuous management role in the business or businesses.

In addition;

• You must have a prescribed interest in the business or businesses.
• You must meet the assets and employees requirement;

For the 12 months immediately before you apply, you or your partner (or you and your partner together) must show at least 2 of the following:

• assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia
• personal and business assets in Australia of AUD600,000 net value
• equivalent of at least 2 full-time eligible employees in your main business

If you want to meet the employee rule, your employees must work in your main business (or main businesses) and:

• be Australian citizens, Australian permanent residents, or holders of valid New Zealand passports
• not be members of your family

888 Investor Stream

This is the pathway to permanent residency for holders of 188 Investor Stream visas;

To be successful you must have;

• Held your designated investment for at least 4 years if the provisional visa was granted on the basis of an application made on or after 1 July 2015, or for at least 3 years and 11 months if the provisional visa was granted on the basis of an application made before 1 July 2015.
• Lived in Australia for at least 2 of the 4 years immediately before applying.
• Not been involved in any business or investment that are unacceptable to Australia.
• Have a realistic commitment to continuing your business or investment in Australia.

888 Significant Investor Stream

This is the pathway to permanent residency for holders of 188 Significant Investor Stream visas.

To be successful you must have;

• Confirmation from the state or territory that their nomination is still current
• For the whole period during which you held your Business Innovation and Investment (Provisional) (subclass 188) visa, have held a ‘complying investment’ (if your subclass 188 visa was granted on the basis of an application made before 1 July 2015) or a ‘complying significant investment’ (if your subclass 188 visa was granted on the basis of an application made on or after 1 July 2015)
• Meet the residency requirement. Time spent in Australia does not need to be continuous but can be gained cumulatively.
• Not been involved in any business or investment that are unacceptable to Australia.
• Have a realistic commitment to continuing your business or investment in Australia

888 Premium Investor Stream

This is the pathway to permanent residency for holders of 188 Premium Investor Stream visas.

To be successful you must;

• Have held the 188 visa for least 12 months.
• Hold a current nomination from Austrade
• Held a compliant investment for at least 12 months before applying for permanent residency
• Not been involved in any business or investment that are unacceptable to Australia.
• Have a realistic commitment to continuing your business or investment in Australia

888 Entrepreneur Stream

This is the pathway to permanent residency for holders of 188 Entrepreneur Stream visas.

To be successful you must;

• Have confirmation from the state or territory that their nomination is still current
• Have a record of successful entrepreneurial activities;

You will need to show either:

• 2 key success factors, or
• 1 key success factor and 3 supporting success factors

Key success factors include:

• employing 2 or more Australians, permanent residents or other eligible persons
• generating an annual turnover of at least AUD300, 000
• filing a provisional patent or acquiring a standard or innovation patent
• receiving ongoing funding or investment in your entrepreneur activity
• entering into a partnership with a university
• selling an entrepreneurial venture for AUD2 million

Supporting success factors include:

• adapting your entrepreneurial activities into other business areas
• receiving a statement of success from a state or territory government nominator
• receiving sponsorship from the corporate sector
• starting at least 1 other business or contributing to at least 2 other businesses
• receiving formal awards or recognition
• raising or contributing to social capital

Entrepreneurial activities in Australia can’t be:

• residential real estate
• labour hire
• buying an existing enterprise or a franchise in Australia
•  
• Have been living in Australia for at least 2 of the last 4 years
• Not been involved in any business or investment that are unacceptable to Australia.

Have a realistic commitment to continuing your business or investment in Australia.

The Business Talent Subclass 132 Visa

The 132 visa offers qualifying business owners and enterpreneurs, permanent residency without first completing a qualifying period on a provisional business visa in Australia.

The qualifying criteria are far more stringent than for the 188 / 888 visa streams to reflect the fact that applicants gain Permanent residency straight away.

This visa will appeal to business owners and entrepreneurs with a clear vision for their business in Australia and who have carried out the necessary research to be confident of their business ‘s long term viability.

The basic eligibility for the visa are;

• you must be nominated by an Australian state or territory government*
• you must be invited to apply for the visa via the Skill Select system. This system invites individuals and business owners to make an Expression of Interest stating their interest and qualifications to migrate to Australia. Expressions remain in the system for up to two years within which time applicants must be invited to apply for a visa. Only if invited can an applicant lodge a visa application. States and territories will review business and investment visa expressions and identify those that they wish to nominate. In the year to August 2019, 689 subclass 188 applicants were invited to apply and 132 subclass 132 visa applicants.
• you must have the required assets and funding.
• you must have had an overall successful business career and genuine desire to own and manage an Australian business.
• you must be under 55 years of age.

The 132 visa is divided into two streams;

• The Significant Business History Stream
• The Venture Capital Entrepreneur Stream

The Significant Business History Stream

This visa stream is for business owners who can demonstrate business acumen and ambition and who are determined to own and manage a business in Australia.

The basic eligibility are;

• you must have assets of more than $1.5m
• In at least 2 or the past 4 financial years, their business must have achieved an annual turnover of at least $3m
• you must have net assets of at least $400k from the ownership interest in one or more business, gained over at least 2 of the last four financial years.

*As mentioned under the basic eligibility criteria, applicants must be nominated by their selected state or territory. The requirements of each state vary but as an example, Queensland currently has the following criteria in addition to those required by the Australia government;

• Applicants must demonstrate that they have net business and personal assets of at least A$1.5 million to be transferred to Queensland within 2 years of your visa being granted, which includes a minimum of A$1 million for investment into a business and a minimum of A$500,000 for settlement costs
• Applicants must demonstrate a commitment to Queensland with an intention to reside and invest in Queensland

The Venture Capital Entrepreneur Stream

This visa is for applicants who have sourced venture capital funding from a member of the Australian Investment Council (AIC). This visa allows for the operation of a new or existing business in Australia.

Generally speaking, both the Australian government and the State or territory will expect the new business to have high growth potential and high value.

You must have sourced approved funding of at least $1m and be able to demonstrate a genuine and realistic commitment to manage an eligible business and maintain a substantial ownership interest in the business.

*To be successful with a Queensland nomination, you must;

• demonstrate that you have net assets of at least of A$200,000 to be transferred to Queensland for settlement costs
• demonstrate a commitment to Queensland with an intention to reside and invest in Queensland.