Australian Business Visa program is meant for business owners, investors, and senior executives who can create new businesses and employment opportunities in the country. You can enter Australia through provisional business visas which are valid for four years. Once you have established the business in the country, you can obtain the state or territory government nomination and apply for Australia business PR (permanent residence) visa.
Some of the most popular Australia Business PR visas are:
Business Innovation and Investment Visa - Provisional (Visa Subclass 188)
This business visa allows you to invest in Australia, establish a new business, or manage an existing business. The requirements of Business Visa Australia are quite stringent and it is tough to qualify for them. Only legit businesses make the cut for this provisional business visa. The validity period of this Australian visa is four years.
It has several streams and all of them lead to PR (except the Investor Retirement visa):
- Business Innovation Stream: If you want to set up a new business or own and manage an existing business in Australia, you need to apply for business visa Australia under this stream.
You must be younger than 55 years of age. The state or territory government may waive this requirement if your proposed business or investment activity is exceptionally profitable to the region's economy. You should also score 65 points or more in the Innovation Points test, have a high level of management skills in the relevant field, should have been managing related business or investment activity directly for at least three years, and have a genuine interest in continuing the business or investment activity in Australia after your original investments mature.
If you apply for the provisional business Australia visa with your partner, your total assets should be at least AUD 2.5 million for at least two fiscal years before you receive your ITA (Invitation to Apply). You must have acquired your money legally and transfer it to Australia within two years of being granted the visa.
- Investor Stream:If your original investment in a business or investment activity in any Australian state or territory has matured and you want to invest at least AUD 1.5 million again, you can apply under the 'investor' stream.
The requirements for this stream are essentially the same as the Business Innovation stream.
- Significant Investor Stream: If your original investment has matured and you are willing to make a designated investment of AUD 5 million or more, you can apply under the 'significant investor' stream.
To qualify for this visa, you need to invest in:
- Commonwealth, state or territory government bonds.
- Managed funds that invest in infrastructure projects and real estate in Australia, cash held by Australian institutions that take deposits, Australian companies and trusts listed on any of the Australian Stock Exchange, government bonds, bonds or term deposits issued by financial institutions in Australia, and Australian agribusiness.
- Private Australian companies that are not listed on stock exchanges of Australia but operate as a qualifying business in the country, is registered with the ASIC and has an ABN (Australian Business Number). The investor must have an ownership interest in the company.
You need to be invited to apply for visa 188. To win the nomination by a state or territory government, you should have a successful business or work and investment history as well as be able to prove that you have adequate personal and business assets.
Getting a provisional business visa may take anywhere between 18 to 22 months to get processed.
If you are granted the short-stay visit visa, it is only valid up to three months and cannot be extended later. But other visa pathways lead to permanent residence in Australia if you fulfil all the requirements.
Business Innovation and Investment Visas - Permanent (Visa Subclass 888)
Once you fulfil the requirements of the provisional visa (subclass 188), you can apply for this business PR visa to continue your business and investment activity and get direct entry to permanent residence in Australia. This visa allows you to live and work permanently in the country, travel in and out of Australia for five years, and bring in family members. It also allows you to enrol in Medicare Australia scheme for healthcare.
This business visa does not ask you to satisfy the innovation points test and does not have an upper age limit. All you need is to spend 160 days (out of four years) in Australia while holding the Business Innovation and Investment Provisional visa (subclass 188). You need to comply with Australia laws and be nominated by the Australian state or territory to be eligible for this visa.
The 888 visa has several streams but your stream will be determined by the original stream you chose for your 188 visa. It means that if you had 188 visa subclass under the Business Innovation stream, you need to apply for 888 Business Innovation stream (permanent) visa. People who held 188 visa under the Business Investor stream will have to apply for the 888 visa subclass under the 'Investor' stream and those who held it under the Significant Investor stream will have to choose the same stream for their 888 Australia business PR visa.
There's an exception to this case though. New Zealand citizens on 444 subclass visa can apply directly for this PR visa without having to go through the 188 visa requirement.
Business Talent Visa (Visa Subclass 132)
This Australia business visa is meant for business people nominated by the Australian state or territory government. To get this visa, you need to submit an EOI (Expression of Interest) through SkillSelect and the Australian government will invite the most eligible people to apply. It is valid for four years and is a pathway to permanent residency.
You can apply for this visa if you own a business in an overseas location.
The two streams under which you can apply for visa subclass 132 are:
- Significant Business History stream: Business owners who want to play a major management role in a new or existing business in Australia can apply under this stream. They must discuss their business proposal with the state or territory government before they lodge an EOI on SkillSelect. They also need to make an investment of at least AUD 2.5 million (in certain regions) and create five new employment positions or invest at least AUD 1.5 million (in other regions) and create at least three new employment positions.
Businesses in the agribusiness, infrastructure, tourism infrastructure, resources, and education and training sectors gain preference in regional Queensland. Other states and territories may have their own preferences.
- Venture Capital Entrepreneur stream: Business people who have received a funding of at least AUD 1 million from an Australian venture capital firm can apply under this stream. You need to use the funds to start or expand a high-potential and high-value business, commercialize products, and in business development.
Australian authorities take about two years to process this visa once they receive your application and all your supporting documents.
Investor (Residence) Visa (Visa Subclass 893)
This is a State or Territory Sponsored Investor visa. If you already hold Visa subclass 165 or the State/Territory Sponsored Investor (Provisional) Visa and have invested in Australia for four years, you can apply for this visa. Like 188 visa, it provides an Australia business PR pathway to visa 165 holders with successful business or investment record and significant net assets.
You need to prove that you have stayed in Australia for two years and maintained an investment in the state treasury for at least 3 years and 9 months immediately prior to applying for this visa. Once you submit your application with all the documents, it takes about two weeks to a month to process this visa.
What are the 2 stages of becoming a permanent resident of Australia through a business visa?
The Business Skills Program of Australia is meant for:
- People who own or partly own a business,
- Senior executive employees of big businesses,
- Individuals who want to invest in Australia, and
- People with a successful business or investment record who have been nominated or sponsored by a State or Territory government.
The first step to the Australia Business PR is to obtain a temporary business visa or the 188 Business visa. It has five streams, including:
- 188A Visa or Business and Innovation Stream
- 188B Visa or Investor Stream
- 188C Visa or Significant Stream
- 188D Visa or Premium Investor Stream
- 188E Visa or Entrepreneur Stream.
The first three streams of 188 visa subclass are more popular. The Premium Investor Visa Stream is meant for those who are willing to invest AUD 15 million in a business or investment activity in Australia. The Entrepreneur Visa Stream is meant for business owners who have received a funding of AUD 200,000 from a third party to develop a business in Australia and have been nominated by the State or Territory government.
The second step is to get a permanent business visa or visa 888. After two years of holding the Business Innovation stream 188 visa or four years of holding the Investment stream 188 visa, you may apply for this business PR visa.
What are the factors that impact the processing time of an Australian business visa?
While most business visitor visas (visa subclass 600) get processed between 9 and 20 days, the processing time of each provisional or PR business visa application may range from 18 months to 24 months. Some of the factors that can affect the processing time of an individual application are:
- Whether the application is complete and has all the supporting documents attached to it or not?
- Do authorities need additional information and how much time an applicant takes to respond to their enquiries?
- How much time different departments need to assess and verify the information and evidence provided by candidates?
- How much time does it take for the department to obtain relevant information from an external agency (such as health status or response to a background check)?
- How many places are available and how many people have applied for it?
If a candidate has applied for citizenship, it will take some time to obtain a citizenship certificate. Visa2Immigration visa and immigration consultants can help you with all the steps and hasten up the process for you by providing you with the right guidance and support on a timely basis.
What do I need to win a State sponsorship for my Australia Business PR visa?
State sponsorship requirements differ for Business Owners and Investors. But a few things are common, such as:
- You must be under 55 years of age. This requirement may be waived if your business seems to be exceptionally profitably for the region.
- You also need to have 65 points on the Points Test.
- Your business should be successful and you must have a genuine desire to manage the business in Australia to win a state sponsorship.
If you are a Business Owner, you must have an ownership interest in the business for two years (out of the four years) of your 188 visa validity with a turnover of at least AUD 500,000. You must have at least 51% ownership of the business with less than AUD 400,000 turnover per annum, 30% ownership of a business with a turnover of AUD 400,000 or more for one or more years, or 10% ownership of a public listed company.
If your business provides technical services, trade services, or professional services, you must have worked in your nominated business area for at least two years. The total business and personal assets of the business owner and/or their partner should also be at least AUD 800,000 which need to be transferred to Australia within two years of the visa being granted. Investor
Investor stream visa applicants must have at least three years of experience in managing an eligible business or investment activity. They have to agree that any income they earn from their investments in Australia will be subjected to Australian taxation laws.
This visa grants working rights to the family members and partners of the investor. People can combine two or more businesses to meet the eligibility criteria as a potential investor.
Obtaining an Australian business visa is considered very difficult. However, Australia business PR specialists at Visa2Immigration are well-versed with all the legislation and regulatory guidelines for the process and can increase your chances of winning it considerably.
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