Business Migration
Australia Business Visa: An Introduction
Entrepreneurs and business enthusiasts have the opportunity to apply for visas that facilitate the establishment and growth of businesses within Australia through the Australian Business Innovation and Investment Visa Program.
The Australian Government introduces the Business Innovation and Investment Program as a strategy to support the expansion of Australia’s economy. Holders of this visa are empowered to establish, manage, invest in, and run a business on Australian soil.
The 188 Visa is initially granted as a provisional residency and involves a two-phase process towards obtaining permanent residency. Candidates seeking the 188 visa must receive a nomination from a State or Territory Government. Various state-nominated visa options exist for migrants, offering different streams tailored to individuals who either already possess a business, aspire to initiate a business in Australia, or aim to invest in a particular state. A transition to permanent residency is available after the 188 subclass through the permanent subclass 888 visa. This article will delve into two streams under the Australia business visa category.
Exploring Australia Business Visa Streams
This visa enables you to manage and own a business in Australia, engage in investment and business activities, or pursue entrepreneurial ventures within the country. While there are multiple streams, this article focuses on the following:
Temporary Australia Business Visas
- Business Innovation and Investment (Provisional) Visa Subclass 188
- Business Investor Stream Subclass 188B
Permanent Australia Business Visas
- Business Innovation and Investment (Permanent) Visa Subclass 888 (Business Innovation Stream)
- Business Innovation and Investment (Permanent) Visa Subclass 888 (Business Investor Stream)
Temporary Australia Business Visa Advantages
Advantages of the Business Innovation and Investment (Provisional) Visa Subclass 188 include:
- Permission to stay for up to 5 years
- Eligibility for Permanent Residency (PR) through the Subclass 888 visa after fulfilling specific criteria
- Ability to bring family members along
The Tourist Visa for Australia, subclass 600, is designed for international visitors who wish to travel to Australia for vacation or to visit family members.
Basic Requirements for the 600 Visa
- Must be 18 years or older.
- Should intend to stay temporarily.
- Should not plan to find employment in Australia.
- Must possess sufficient financial resources to cover expenses during the stay.
Benefits of the Business Investor Stream Subclass 188B are similar, offering:
- A stay of up to 5 years
- Pathway to PR through the Subclass 888 visa upon meeting the necessary requirements
- Opportunity to relocate family members to Australia
Understanding the Australian Business Visa Subclass 188 and Subclass 188B
The Subclass 188 Business Visa serves as a temporary permit for entrepreneurs to either run a business or undertake investment activities in Australia.
Australia Business Visa – Subclass 188
Innovative Business and Investment (Temporary) Visa
This visa is designed for entrepreneurs who are looking to establish, develop, or manage a business in Australia, whether it’s a new venture or an existing one. The application is evaluated on a points-based system, requiring a minimum of 65 points for an invitation to apply. Points are given for various criteria including the financial performance of your business, your personal net worth, your experience in business management, your age, among other factors. It is essential to have a sincere intention to pursue business activities in Australia once you arrive.
This visa is ideal for those aspiring to own and operate a new or existing business, invest in provisional Australia, or engage in entrepreneurial endeavors.
The visa grants a temporary residence in Australia for up to 4 years and 3 months, with the possibility of extension.
To be eligible, you must first receive a nomination from a state or territory government in Australia through the Expression of Interest (EOI) process.
Basic Requirements for Australia Business Visa 188
- You are required to run a new or current business in Australia.
- You need to be nominated by a state or territory government agency in Australia to be eligible for this visa.
- Your investment must meet the specified monetary threshold relevant to your business.
- Achieving at least 65 points in the SkillSelect evaluation is necessary.
- Proof of business accomplishments, such as annual revenue and ownership interest, is required.
- Your total business and personal assets must be at least AUD 800,000.
Australia Entrepreneur Visa – Category 188B
Investor Stream
The Entrepreneur Visa under the Australian business visa framework is designed for entrepreneurs, investors, and business proprietors with a minimum of AUD$2.25 million ready for investment. This visa necessitates the investment of at least AUD$1.5 million into an approved investment over a span of 4 years. The approved investment is primarily in Government Bonds, ensuring safety and guarantee. Applicants must achieve a minimum of 65 points on the immigration points test to qualify for an invitation to apply. The assessment criteria mirror those applied to the subclass 188A.
Targeted at entrepreneurs, investors, and business owners who possess a subclass 188, 444, or 457 visa, this visa category aims to support the continuation of business activities within Australia.
Granting the holder permanent residency status, this visa offers an indefinite opportunity to live and engage in business in Australia.
Basic Requirements for the Australia Entrepreneur Visa 188B
- Possession of a subclass 188, 444, or 457 visa.
- Fulfillment of specific business criteria.
- Nomination by a state or territory government agency in Australia.
- Demonstrate a minimum annual business revenue of AUD$300,000.
Australia Business Visa - Permanent Residency
Key Advantages of the Business Innovation and Investment (Permanent) Visa Subclass 888
Australia Entrepreneur Visa – Category 188B
(Business Innovation Path)
Key Advantages of the Business Innovation and Investment (Permanent) Visa Subclass 888
- Permanent residency in Australia.
- Freedom to work and study anywhere in Australia.
- Continue the business operations you initiated with the Business Innovation and Investment (Provisional) visa.
- Permanent residency in Australia.
- Freedom to work and study anywhere in Australia.
- Keep up your investment activities that began with the Business Innovation and Investment (Provisional) visa.
Business Visa Subclass 888: Business Innovation and Investor Paths
The Subclass 888 Business Visa is a permanent residency option for those looking to engage in business or investment activities within Australia. It offers a pathway to continue growing your business or investment endeavors on Australian soil.
Innovation in Business Stream – Subclass 888
Permanent Visa for Business Innovation and Investment – Innovation Pathway
This visa is designed for individuals who already possess a Business Innovation and Investment (Provisional) visa (subclass 188) within the Business Innovation or Business Innovation Extension streams, granting them permanent residency in Australia.
It enables you to continue any business endeavors initiated while under your Business Innovation and Investment (Provisional) visa.
Through this visa, you’re granted the opportunity for permanent residence in Australia.
Eligibility Criteria for Visa 888 Innovation Pathway
- Possess, or in specific situations, have previously held, a Business Innovation and Investment (Provisional) visa in the Business Innovation pathway, a Business Innovation and Investment (Provisional) visa in the Business Innovation Extension pathway, a Special Category visa, or in particular instances, a subclass 457 visa.
- Fulfill specific business-related criteria.
- Have an active endorsement from a state or territory government agency in Australia.
Investor Category – Visa Class 888
Permanent Business Innovation and Investment Visa - Investor Category
This visa provides individuals with a Business Innovation and Investment (Temporary) visa (subclass 188) in the Investor category the opportunity to continue their investment activities in Australia on a permanent basis.
Designed for business people, investors, and company proprietors presently in possession of a subclass 188, 444, or 457 visa, this visa facilitates the continuation of your commercial and investment pursuits within Australia.
This visa permits the extension of your investment ventures initiated with the Business Innovation and Investment (Temporary) visa.
It grants permanent residency status in Australia.
The visa allows for both employment and educational opportunities in Australia.
Visa 888 Investor Category Basic Requirements
- Possession of a subclass 188, 444, or 457 visa is necessary.
- Fulfillment of the business criteria is required.
- Must be endorsed by a state or territory government agency in Australia.
- Must demonstrate a yearly business income of at least AUD300,000.
Navigate Your Immigration With Expertise
Book a consultation with our immigration specialist to uncover the ideal visa solution tailored for you, and design a detailed roadmap for your migration journey.
For personalized guidance and to start your journey towards living your dreams in Australia, contact Starks Immigration Services today. Let us help you navigate through the process seamlessly.