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Are you looking at applying for a visa to Australia? Did you know that there are business visa options available for people who are seeking to establish and manage, invest in a business, or innovate a product or service to commercialise in Australia? There are both provisional and permanent residence business visa options available, including pathways for you to settle in Australia indefinitely.

To be eligible, you need to be granted sponsorship approval by a State or Territory Government.

What Business Visas Are Available?

There are currently two business visa subclass options available, comprising of nine visa streams in total. Note there will be changes from 1 July 2021 (as discussed below).

Subclass 188 Business Innovation And Investment (Provisional) Visa

The first is the Subclass 188 Business Innovation and Investment (Provisional) visa (BIIP), comprising the following visa streams:

Business Innovation Stream

This stream is designed for applicants who possess business skills, and enables them to operate a new or existing business in Australia. The visa term is 4 years and 3 months.

Business Innovation Extension Stream

Subclass 188 Business Innovation stream visa holders may be eligible to extend their stay in Australia for an additional 2 years. An additional 2 year extension period is also available to Subclass 188 Business Innovation extension stream visa holders in certain circumstances.

Investor Stream

Applicants must invest at least $1.5 million in an Australian State or Territory, and maintain business or investment activity in Australia. The visa term is 4 years and 3 months.

Significant Investor Stream

Applicants must invest at least $5 million in complying significant investments in Australia (that meet certain requirements) and maintain investment activity in Australia. The visa term is 4 years and 3 months.

Significant Investor Extension Stream

Subclass 188 Significant Investor stream visa holders may be eligible to extend their stay in Australia for an extra 4 years. An additional 2 year extension period is available to Subclass 188 Significant Investor extension stream visa holders in certain circumstances.

Premium Investor Stream

For applicants who are nominated by Austrade and who invest at least $15 million in Australian investments and/or philanthropic contributions that meet certain requirements. The visa term is 4 years and 3 months.

Entrepreneur stream

This 188 visa stream is aimed for applicants who seek to undertake entrepreneurial activities in Australia. A funding agreement with a third party to carry out entrepreneurial activities is required. The visa term is 4 years and 3 months.

Expression Of Interest

A common feature of the above visa streams (except for the extension streams) is the requirement that applicants must first submit an Expression of Interest (EOI) with the Department of Home Affairs (the Department). Only upon receipt of an invitation can you then proceed to apply for the visa itself.

Note also that age limits may apply.

Permanent Residence Pathway For Subclass 188 Visa Holders

The visa 188 also provides a pathway to permanent residence via the Subclass 888 Business Innovation and Investment (Permanent) visa once you have held the temporary visa for between 1-4 years (depending on the visa stream), provided specified requirements are met.

Subclass 132 Business Talent (Permanent) Visa

Another business visa option available is the Subclass 132 Business Talent visa, which provides automatic permanent residence in Australia (unlike the BIIP visa discussed above, which is provisional, meaning it may lead the the grant of a permanent visa if certain requirements are met).

The subclass 132 visa enables you to establish a new, or to develop an existing business, in Australia.

To qualify, you need to be nominated by an Australian state or territory government agency, and receive an invitation to apply for the visa (as with the subclass 188 visa discussed above). You also need to have the required funding or assets to meet eligibility requirements.

The Business Talent visa consists of the following two visa streams:

Significant Business History Stream

This visa stream enables experienced business owners to operate a new or existing business in Australia.

To qualify, you must demonstrate:

a net value of at least $1.5 million;

an annual business turnover of a minimum $3 million for at least 2 of the last 4 years before you are invited to apply for the visa; and

total net assets of at least $400,000 as the ownership interest in one or more qualifying businesses, for least 2 of the last 4 years before you are invited to apply for the visa.

Venture Capital Entrepreneur Stream

This stream is aimed for applicants who have sourced venture capital funding from a member of the Australian Investment Council (AIC). You must have at least $1 million in funding from an Australian venture capital firm.

Important Changes From 1 July 2021

Please be aware that the Government has announced changes to the Business visa program, which will come into effect from 1 July 2021.

The program will be simplified, with a reduction in the number of visa streams from the existing nine, to four streams. There will also be changes to the eligibility requirements.

Effective from 1 July 2021, the following four visa streams will be available:

Business Innovation;

Entrepreneur;

Investor; and

Significant Investor.

Each provisional visa will have a five-year term. They will also each provide a pathway to permanent residency after three years.

As a result of these changes, the following visa streams will cease from 1 July 2021:

Premium Investor;

Significant Business History; and

Venture Capital Entrepreneur.

Business Innovation and Significant Investor visa holders will continue to have the option to extend their provisional visa if they meet specified requirements;

Eligibility requirements for the Business Innovation visa stream will also change, with minimum business assets required to be held increasing to $1.25 million, and the annual turnover threshold increasing to $750,000; and

Entrepreneur visa stream applicants will no longer need to meet the $200,000 funding threshold. Applicants will require endorsement by a State or Territory government.

The team of professional registered migration agents at EZ Migration have a wealth of experience in migration law, and the skills and qualifications to advise potential applicants on their eligibility for a business visa, and strategies to help you to achieve your goals for business migration, whether that be a temporary stay, or permanent residence in Australia. Whatever your objectives are, EZ Migration are there to guide you through the process, to carefully explain the requirements and assess your eligibility, so as to ensure that you have a full understanding of what is involved, so that you can make an informed choice on how to proceed. And, if you decide, EZ Migration can take the process out of your hands, and prepare the application on your behalf. With our help, you can rest assured that you are receiving the best advice from experts in migration law, who have extensive experience in assisting people like yourself to achieve your migration goals.