Are you a savvy business owner or operator internationally or domestically in your home country? Have you ever had ambitions to enter the Australian market?

As Australia continues to provide business opportunities in existing and future growth sectors, demand for talented business developers and entrepreneurs has increased significantly.

Currently, two streams exist for potential migrants to apply:

• Significant Business History stream: applicable to applicants with significant experience in starting, managing or developing a business. Under this stream the applicant must be able to prove net personal and business assets of at least $1.5m AUD. In addition, the business must generate annual revenues of at least $3m AUD
• Venture Capital Entrepreneur stream: applicable to applicants who have already secured venture capital funding for launching a new business in Australia. Note that any funds raised must be from a member of the Australian Venture Capital Association Limited (AVCAL). The minimum amount required is $1m AUD

Note: State and territory governments each have their own nomination criteria.

If you are successful in obtaining a nomination by one of the state or territory governments you may be invited to apply for a Business Talent Visa.

 

GENERAL REQUIREMENTS FOR BUSINESS TALENT VISA (PERMANENT)

1. Eligibility

Before applying for a Business Talent visa, candidates must:

• have completed an EOI and have received an invitation
• be nominated by a state or territory government
• pass the health and character requirements (including direct family members who are not applying)
• meet the requirements for the stream you intend to apply under

2. Business Experience

At the time that you lodge your visa application:

• net assets of at least $400K AUD as ownership interest in one or more qualifying businesses for a minimum of two years in the four years immediately before you are invited to apply. If the business is publicly listed, you must hold share in excess of 10% of the total issued capital
• at least $1.5m AUD in personal and business assets that can transferred to Australia within a two year period after the visa is granted
• a minimum annual turnover of $3m AUD in two of the four years immediately prior to being invited to apply
• ownership of at least:
• 51% share in a business with annual revenues no higher than $400K AUD
• 30% share in a business with annual revenues in excess of $400K AUD, or
• 10% share of a publicly listed company
• a proven career in one or more successful businesses
• no track record of conducting unacceptable business activities
• genuine intensions of remaining in a management role in an Australian business for the duration of your stay
• The current rules for the Business Talent visa (subclass 132) state that applicants must be under the 55 year age threshold. However, if the business is expected to bring significant economic benefit to the region, the department may waive this requirement.

 

3. Net Assets

You (and/or your spouse or de facto partner, if applicable) must:

• in at least two out of the last four financial years have had net assets of A$400,000 in a business (or businesses) in which you had an ownership interest (i.e. shareholder, partner, sole proprietor)
• have total net business and personal assets of at least A$1.5 million that can be legally transferred to Australia within two years of the date that your visa is granted

 

VENTURE CAPITAL ENTREPENEUR STREAM

At the time that you lodge your visa application you must:

• be nominated by an Australian State or Territory government
• have obtained at least AU$1 million in funding from an Australian Venture capital firm for the start-up, product commercialisation or business development of a promising high value business idea

The Innovation and Investment visa offers an opportunity for individuals with great business ideas to enter Australia.

Can you demonstrate your innovative business skills? Are you interested in developing a new or existing business with significant financial investment in Australia? Then this could be the visa for you.

The Innovation and Investment visa (subclass 188) is a provisional business visa that allows the visa holder (and any additional visa holders) to enter Australia for a four year period.

This pathway to Australia is a two-step process. Once your provisional visa is granted, you may be able to apply for the permanent Innovation and Investment visa (subclass 888) after four years.

There are three streams under which applicants can apply:

• Business Innovation stream: applicable to applicants who intend to start, manage or develop a new or existing business in Australia
• Investor stream: applicable to applicants with at least $1.5m AUD capital funding to invest in a new or existing business in Australia
• Significant Investor stream: applicable to applicants with at least $5m AUD capital funding to invest in a complying investment in Australia

 

GENERAL REQUIREMENTS FOR INNOVATION AND INVESTMENT VISA (PROVISIONAL)

 

1. Eligibility

At the time that you are invited to apply for this visa, you must:

• be under 55 years of age
• genuinely wish to own, and maintain a major management role in, a business in Australia
• score at least 65 on the innovation points test (which takes into account your age, English competency, qualifications, experience, turnover and assets, amongst other factors)
• be nominated by an Australian State or Territory government agency

2. Business Experience

At the time that you lodge your visa application:

• be under the 55 year age threshold. In some cases this condition may be waived depending on the nature of the business and expected economic benefits it may bring to the nominating state or territory
• obtain a score of at least 60 in the points test
• have a business or a proprietary interest in a business with a minimum annual turnover of $500k AUD for two out of four fiscal years immediately before your visa application invitation date
• a minimum ownership in your nominated business of one of the following:

51% if the business has annual turnover less than $400K AUD

30% if the business has annual turnover exceeding $400K AUD

10% if the business is listed on the stock exchange

• have a proven career in business
• have genuine intensions of continuing in a management role in an Australian business
• You must have spent more than half of your time in a managerial role if your business provides technical, professional or trade services. For example, if you have owned an IT consulting business for the last 10 years, you must have spent more than 5 in the last 10 years in a management role.

 

3. Net Assets

You and/or your partner must own a minimum of $800k AUD in lawfully obtained personal and business assets. These assets must also be available for transfer to Australia within 2 years of your visa has been approved

 

INVESTOR STREAM

At the time that you lodge your visa application you must:

• be under the 55 year age threshold – in some cases this condition may be waived depending on the nature of the business and expected economic benefits it may bring to the nominating state or territory
• obtain a score of at least 60 in the points test
• exhibit high level management skills relating to the eligible investment or qualifying business
• provide evidence that you have a minimum of three years’ experience of direct involvement in managing at least one eligible investment or qualifying business
• demonstrate a successful history relating to the eligible investment or qualifying business
• be committed to your business or investment activity in Australia after the investment has matured
• aim to live in the state or territory where you have made your designated investment for a minimum of two years

You and/or your partner combined must:

• have managed one of the following for a minimum of one of the five fiscal years immediately prior to being invited to apply:
• a qualifying business where you and/or your partner owned a minimum 10% share, or
• eligible investments of at least $1.5m AUD owned by you and/or your partner
• have acquired at least $2.25m AUD in net business, investments and personal assets during the two years immediately prior to being invited to apply, and be available for transfer to Australia within a two year period after the visa is granted
• make a minimum investment of $1.5m AUD in state or territory government security, with liquid funds raised through your qualifying business or eligible investments – this investment must be held for a minimum of four years in the state or territory that nominated you
• not have had any involvement in unacceptable business practices
• Note: Income generated from your investment in Australia will be taxed in accordance with Australian taxation law.

 

SIGNIFICANT VISA STREAM

be eligible for the Significant Investor stream, the applicant must make an investment of $5m AUD and hold that investment four a period of at least four years, in one or more of the following:

• Commonwealth, state or territory government bonds
• eligible managed funds – that are restricted to investing in any or all of the following Australian assets:
• infrastructure projects in Australia
• cash held by Australian deposit-taking institutions
• Commonwealth, state or territory government bonds
• bonds, equity, hybrids or other corporate debt in companies and trusts listed or expected to be listed within 12 months on any Australian stock exchange
• bonds or term deposits issued by Australian financial institutions
• real estate in an Australian state or territory
• agriculture businesses in Australia
• annuities issued by an Australian registered life company in accordance with section 9 or 12A of the Life Insurance Act 1995
• loans secured by mortgages over the investments listed above
• derivatives used for portfolio management and non-speculative purposes which constitute no more than 20 per cent of the total value of the managed fund
• investment funds that invest in the assets listed above
• invest in privately owned businesses in which you have an ownership interest. If you want to apply for the permanent Business Innovation and Investment visa (subclass 888) in the Significant Investor stream, you must invest in qualifying businesses.

Note: Income generated from your investment in Australia will be taxed in accordance with Australian taxation law.

The applicant must be committed to, or at least intend to:

• live in the state or territory that nominated you
• reside in Australia for a minimum of 160 cumulative days whilst on your provisional Innovation and Investment visa
• carry on your business and investment activities beyond the maturity date of your complying investment

You and/or your partner must have cumulative liquid, legally acquired assets worth at least $5m AUD that are free to be used in your complying investment in Australia.

The Commonwealth of Australia will not be held responsible for losses suffered in your complying investment. You and any relatives aged 18 and over must agree not to bring any legal action against the Commonwealth.

You and/or you partner must not have taken part in inappropriate or unaccepted business or investment practices.

For people who enter Australia and are interested in gaining Permanent status from their business activities the following are other types of business visas permitted in Australia:

• 888-Business Innovation and Investment (Permanent)
• 890-Business Owner visa (Permanent)
• 891-Investor visa (Permanent)
• 892-State/Territory Sponsored Business Owner visa (Permanent)
• 893-State/Territory Sponsored Investor visa (Permanent)

Besides the 888-Business Innovation and Investment, many of the other visa require applicants to hold visa that have been superseded and are closed to new applicants.

If you feel that you are eligible or would like more information please contact us.