In 2012, the Australian government introduced the Business Innovation and Investment (Provisional) Visa Category (Subclass 188), which is split into 4 streams. Each of the visa subclasses can lead to permanent residency in Australia under the Business Innovation and Investment (Permanent) visa (subclass 888).
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What are the 5 business visa streams available to you?
Business Innovation stream – for those who want to establish or develop a business in Australia.
Investor stream – for investors who want to place AUD$1.5 million or more in Australia and continue their business/investment activities for at least 2 years.
Significant Investor stream – for investors who want to invest AUD$5 million or more in Australia and extend their activities over a longer period.
Premium Investor stream – for investors who want to invest AUD$15 million or more into an Australian ‘complying premium institution’ and extend their activities further.
Entrepreneur Stream – for entrepreneurs who have a funding agreement of at least AUD$200,000 that want to carry out entrepreneurial activities in Australia.
How can you become a business owner in Australia?
You must score points on 8 selection factors:
Age (max. 30 points)
English language proficiency (max. 10 points)
Academic qualifications (max. 10 points)
Experience in business and/or investment (max. 15 points)
Net worth and business assets (AUD$800,000 is the minimum required. You can obtain max. 35 points)
Business turnover (max. 35 points)
Business innovation (max. 65 points)
Special endorsement (max. 10 points)
What are the benefits of obtaining this visa?
The Business Innovation and Investment (Provisional) Visas are valid for 4 years and 3 months. These visas enable you to travel in and out of Australia, manage and develop new and existing businesses, sponsor your family to come live with you, and eventually provide you with the opportunity to apply for Australian citizenship.
Interested to learn more?
Contact UIS Australia‘s immigration team today. We are a team of certified MARA immigration agents with years of expertise in Australian immigration for Business owners and entrepreneurs. Click the link below to contact our team today.