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Meeting the requirements of an Australian business visa

2020-03-18 17:50:25
Meeting the requirements of an Australian business visa
For successful business owners, investors and senior executives who wish to settle in Australia, the Australian Business Visa Program is an encouraging pathway towards conducting your business operations in Australia.

The business skills program is essentially subdivided into 4 different categories, which are as follows:

 

1. For owners or part owners of a business

2. A senior executive employee of a big business

3. Individuals or business owners who are willing to invest in Australia

4. People with significant business history who have obtained a sponsorship from a State or Territory government.

 

Process

Under Australian Immigration law, any applicant who enters Australia under the first stream will be required to undergo a 2-stage progression for permanent residence. This process involves holding a Business Skills Provisional visa for a period of 4 years while continuing to satisfy the requirements before an application for Business Skills Residence Visa can be made.

 

Stage 1

Apply for the temporary Business Innovation and Investment Visa (188) under the first stream which is the Business and Innovation Stream 

 

The subclass 188A visa is suitable for business owners and investors from overseas who are willing to invest in a new or existing business located in Australia. This is a provisional visa for up to 4 years. Under 55 years of age or exceptional benefit to the state.

 

Eligibility

In order to qualify for this four-year visa that can pave the way for permanent residency an applicant must meet the following criteria:

 

· be less than 55 years old,

· have owned and managed a business,

· Have a successful business career

· Be nominated by a State or Territory, and invited to apply

· attain a passing mark of 65 points in a points test. Points can be awarded for age, qualifications, business or investment experience, net personal and business assets, turnover, English language ability, innovation and special state/territory endorsement.

· Have functional English

· Meet the health and character requirements

 

In addition, the applicant must meet these requirements

 

· Net assets of at least AUD 800,000 available for transfer to Australia within two years of the visa grant and you must also meet the following business criteria:

· Turnover of at least AUD 500,000 in one or more of the applicant’s businesses in two of the last four years immediately before applying,

 

· Business ownership requirements:

 

51% ownership of a business with turnover of less than AUD 400,000;

30% ownership of a business with turnover of more than AUD 400,000; or

10% ownership of a publicly-listed company.

 

Application

1. Ensure that you meet the Department of Home Affairs visa criteria and Australian state nomination requirements.

2. Lodge an EOI through the Department of Home Affairs SkillSelect website. Choose your preferred state and select the visa stream you want nomination for. Keep note of the reference number as you will need it for your state nomination application.

3. Create an Immigration SA account and submit an online application for state nomination.

4. If you are approved for state nomination, you will receive an invitation from the Department of Home Affairs asking you to lodge your visa application within 60 days of nomination.

5. Once you’ve received an invitation, create an ImmiAccount and submit your visa application on the Australian Department of Home Affairs’ website

 

This visa costs AUD5,375 for the main applicant. There is also a charge for each family member who applies for the visa with you:

 

· additional applicant over 18 years old: AUD2,685

· additional applicant under 18 years old: AUD1,345

 

Documents

Attach the necessary documents to your visa application and submit your application online

 

· The Expression of Interest (EOI)

· Passport and national ID card (if you have one)

· If applicable, proof of name change

· Business documents

· Documents that prove you have net assets of 800,000 AUD

· Points test documents

· English language documents

· Health documents (provided by the doctor)

· Character documents

· If someone is helping you, provide proof of that

· Partner documents, if applicable

· Documents for dependents under/over 18, if applicable

 

Stage 2 

After receiving your provisional visa and living in Australia for two years, you can start your application for the Permanent Business Innovation And Investment Visa (888) 

 

The 888 visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream gain permanent resident status

 

You must

 

· hold a Business Innovation and Investment (Provisional) visa in the Business Innovation stream or the Business Innovation Extension stream

· meet certain business requirements

· have a current nomination from an Australian state or territory government agency

· Own and manage a business in Australia

· Have an annual business turnover of AUD300,000

· Meet the assets and employees requirement

· Functional English

· Meet the residence requirement

· Have followed Australian laws

· Not have been involved in unacceptable business activities

· Have a realistic commitment to continuing business activities

· Meet the health and character requirements

· Have no debt to the Australian government

 

The visa costs AUD2,590 for the main applicant. There is also a charge for each family member who applies for the visa with you.

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