Business owners who would like to invest beyond their countries, and to be specific, Australia, can live their dream through the Australian business visa. Even so, you should know that it’s much more complicated to get a business visa than other visas.
While we have several visa subclasses under this category, it might take your age to get one. The application is extremely rigorous, and missing out on even a single requirement can earn you a refusal.
With most business visa categories, an applicant needs state nomination before lodging an application. So, if you’re not eligible for state nomination, you might not proceed with your visa application.
So, what business visa categories do we have in Australia?
We have two business visa categories in Australia; a temporary business visa and the permanent business visa. Let’s have a look below.
Temporary Business Visa (Subclass 188 Business Innovation & Investment Provisional Visas)
This visa is suitable for investors who would like to establish a business in Australia for a given time period, usually four years. We have at least five eligibility streams under the temporary visa category.
- 188A Visa(Business and Innovation Stream)
- 188B Visa (Investor Stream)
- 188C Visa (Significant Investor Stream)
- 188D Visa (Premium Investor Stream)
- 188E Visa (Entrepreneur Stream)
Let’s break them down below:
188A Visa (Business and Innovation Stream)
Only applicants who’ve been nominated by an Australian state or territory government qualify for this visa stream. For one to be nominated, they should lodge an Expression Of Interest (EOI) through Skillselect. The visa is valid for four years, and available for applicants who would like to own and manage a new or existing business in Australia.
However, soon after establishing the business, one can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa. Additionally, an applicant is eligible for a two-year extension once they’ve held the subclass 188 visa for 3 years.
With this type of visa, you can either lodge the application while in Australia or overseas.
For those lodging the visa application from Australia, it’s mandatory to hold either a Substantive Visa or a Bridging A, B, or C visa.
Additionally, you must score at least 65 points to be eligible for this visa stream.
188B Visa (Investor Stream)
This visa is available for applicants nominated by an Australian state or territory government. The visa is valid for four years for those planning to have a designated business in the Australian state or territory. One can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa after sustaining the business for four years.
You can lodge your visa application from Australia or overseas.
If you’re lodging the application from Australia, you must hold a Substantive Visa or a Bridging A, B, or C visa. Additionally, the applicant must have lived in the nominating state for 2 years.
- An applicant must have had personal and business assets amounting to at least AUD 2.25 million for the last 2 fiscal years
- The applicant must be under 55 years of age, not unless nominating state or territory certifies that there are exceptional circumstances.
- Before the visa is granted, an applicant should make an investment of at least AUD 1.5 million in State treasury bond.
- At least 3 years’ experience in managing a qualifying business or eligible investments with proven high-quality management skills
- An applicant must have managed a business in which they hold 10% of shares or an eligible investment of at least AUD 1.5 million for at least 1 to 5 fiscal years
- Meet the prescribed points test of 65
188C Visa (Significant Investor Stream)
This is a temporary visa stream available for those planning to invest AUD 5 million in Australia. The visa is valid for four years, and an applicant needs state or territory nomination to qualify for it. After maintaining a business for four years, one can apply for permanent residency through the Business Innovation & Investment (Residence) Subclass 888 visa.
With this visa stream:
- Upper age limits don’t apply
- No English language requirement
- No points tests
To qualify for this visa, an applicant must make an investment of at least AUD 5 million.
188D Visa (Premium Investor Stream)
Only applicants nominated by Austrade are eligible for this visa. It’s meant for those people who would like to make at least AUD 15 million in a complying investment in Australia for a period of four years. After maintaining the investment for 1 year, one can apply for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.
You can lodge the visa application from Australia or overseas. If you’re applying from Australia, you must hold a Substantive Visa or a Bridging A, B, or C visa.
Before the grant of visa, one must make an investment of at least AUD 15 million in a premium investment.
188E Visa (Entrepreneur Stream)
This visa is available for those people with great entrepreneur ideas with financial back up from a third party. For one to qualify for permanent residency under the Business Innovation & Investment (Residence) Subclass 888 visa after spending 2 years in Australia and being sponsored by a state or territory government.
- An applicant must be nominated by a state or territory government
- Must be competent English
- Should be 55 Years of age unless an applicant provides an exceptional benefit as indicated by the State or Territory Government nominates
- Funding agreement in place for at least $200,000 to establish a venture in Australia
- Ownership interest of at least 30% in the venture
Permanent Business Visa (888 Visa)
This visa lets applicants permanently live and work in Australia. It’s meant for entrepreneurs who would like to obtain permanent residency in Australia. Applicants holding the temporary business 188 visa can apply for it to become permanent Australian residents. The 888 visa allows applicants to bring along family members and they can enroll in Medical Australia’s scheme to take care of health-related expenses.
- Fulfill the requirements for business visa 188
- Primary holder of temporary business visa 188
- Must not be involved in an illegal business or investment activity
- Must be nominated by an Australian state or territory
- Both applicant and family members meet Australia’s health and character requirements
- Show genuine commitment to continue sustaining a business or investment in Australia
If you’re an entrepreneur wishing to explore available business opportunities in Australia, consider applying for any of these business visas.
Need help with your Visa?
Call 1300 066 267 to book a free consultation with No Borders Migration Agents