Business Innovation and Investment (Provisional) Visa (Subclass 188)
This is a temporary visa that allows people to establish a new business or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government, make and maintain complying investments in Australia or participate in complying entrepreneurial activity in Australia. Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888). To be eligible for this visa one must be nominated by a state or territory government and be invited to apply by the minister. This visa includes five streams.
This stream is for the people who are under 55 and are nominated by state or territory government and want to make a designated investment of at least AUD1.5 million in Australian state or territory. This visa is points tested and the applicant must score at least 65 points. The applicant must also have high level of management skill in relation to the eligible investment or business activity and have at least three years experience in the direct management of one or more qualifying businesses or investments.
Business Innovation Stream
This stream is for the people who have business skills and want to establish, develop and manage a new or existing business in Australia. This stream is also points tested and applicant must be nominated by the state or territory government.
Significant Investor Stream
This is for the people who are willing to invest at least AUD 5 million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated bye state or territory government or Austrade on behalf of the Australian government.
Premium Investor Stream
This is for people who are willing and able to make an investment of at least AUD15 million into complying premium investments in Australia and wish to maintain their business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
This stream is for the people who have received funding from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity that is anticipated to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia.
Business Innovation and Investment (Permanent) visa (Subclass 888)
This visa is the second stage of the subclass 188 visa. To be eligible for this permanent visa the applicant must fulfil all the requirements of the provisional visa and be nominated by a state or territory government. There is no need of submitting a new Expression of Interest.
Business Talent (Permanent) visa (Subclass 132)
This visa id for business people who are nominated by an state or government agency. The applicant needs to submit an Expression of Interest (EOI) through skillselect and then be invited to apply. This visa allows the applicant to establish a new or develop an existing business in Australia and has two streams.
Significant Business History Stream: The applicant should have and overall successful business career and a genuine desire to own and maintain a management role in a business in Australia.
Venture Capital Entrepreneur Stream: The applicant must have received at least AUD 1 million in funding from an Australian venture capital firm and that funding must be for the start-up, product commercialisation or business development of a promising high- value business idea. The venture capital firm must be a member of Australian Private Equity and Venture Capital Association Limited (AVCAL) and the applicant must have entered into a formal agreement with the firm for funding.
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