Australia ~ Business Innovator & Investor Programs
Time to Permanent Residency: 1-4 Years ~ Time to Citizenship: 5-8 Years
Under the Business Innovation and Investment Programme foreign-nationals conducting business or investing in the country, may obtain a temporary residency visa, together with their dependents, and eventually a permanent residency visa. To be eligible the foreign national must be nominated by a state or territory government or Australian agency.
To be nominated, the investor/entrepreneur must file an application for State Nomination with the Business Migration Centre (BMC).
Once approved, it is required to submit an Expression of Interest (EOI) through the SkillSelect Online process of the Australian Department of Immigration and Border Protection.
Once nominated in SkillSelect, he or she will receive an invitation from the Department of Immigration and Border Protection to apply for a Provisional visa subclass 188.
After a certain period of time, depending on the business/investment stream, he or she may apply for a permanent visa subclass 888. After 4 years of permanent residency, he or she may be eligible to apply for citizenship.
Investment
Business Innovation Stream
To apply for the provisional visa subclass 188 under the Business Innovation Stream, you must have scored at least 65 on SkillSelect test.
Two out of the four fiscal years immediately prior to the application, you have had an ownership interest in a business that had a turnover of at least AUD500,000.
And you own 51% of the nominated business that has a turnover of less than AUD400,000 per year, or, 30% of the nominated business that has a turnover of more than AUD400,000, or 10% of the nominated business if it is a publicly listed company.
You must also have a successful business career and a will to own and maintain a management role in a business in Australia.
If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.
At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800,000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
After one year holding the provisional visa, you may apply for a permanent visa subclass 888 (permanent residency), provided that:
– You still have an ownership interest and direct and continuous manage role,
– Your business had a turnover of at least AUD300,000 (not required in all Australian states),
– You own 51% of the nominated business that has a turnover of less than AUD400,000 per year, or, 30% of the nominated business that has a turnover of more than AUD400,000, or 10% of the nominated business if it is a publicly listed company,
– You have obtained an Australian Business Number for each of your main businesses,
– Your company has submitted Business Activity Statements to the Australian Taxation Office for the two years immediately before you apply,
– You have not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890, 891, 892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodged your application for this visa,
– You (or your partner, or you and your partner together) must also demonstrate that you have a net value of business assets of at least AUD200,000 in your nominated main business (or two main businesses) in Australia throughout the year immediately before you apply, and/or a net value of personal and business assets of at least AUD600,000 in Australia throughout the year immediately before you apply, and/or have employed at least the equivalent of two full-time employees in your main business (or main businesses), throughout the year immediately before you apply who are Australian citizens, Australian permanent residents, or holders of valid New Zealand passports and not members of your family.
Investment
Premium Investor Stream
To apply for the provisional visa subclass 188 under the Premium Investor Stream, you must invest at least AUD15 million in any of the following options (may be a combination):
– Australian securities exchange listed assets.
– Australian government or semi-government bonds or notes.
– Corporate bonds or notes issued by an Australian exchange listed entity (or wholly owned subsidiary of the Australian listed entity) or investment grade rated Australian corporate bonds or notes rated by an AFS licensed debt rating agency.
– Australian proprietary limited companies.
– Real property in Australia excluding residential property.
– Deferred annuities issued by Australian registered life companies.
– State or territory government approved philanthropic contribution.
You, your partner (spouse or de facto), or you and your partner combined must have net assets of at least AUD15 million that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.
You and your partner must not have been involved in unacceptable business or investment activities.
After 1 year, you may apply for a permanent visa subclass 888 (permanent residency visa), provided that you still keep the qualifying investments.
Investment
Entrepreneur Stream
To apply for the provisional visa subclass 188 under the Entrepreneur stream, you must be undertaking or proposing to undertake a entrepreneurial activity in Australia.
This activity must not relate to residential real estate, labour hire or purchase of an existing enterprise or a franchise in Australia.
To qualify for the program, you must have one or more legally enforceable agreements to receive funding with a total of at least AUD200,000 from the Commonwealth Government agency or the State or Territory Government or a Publicly Funded Research Organisation or an Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership or a Specified Higher Education Provider.
Under the agreement at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia; you must have held at least 30 per cent interest in your entrepreneurial entity when you entered into the agreement.
You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialization of a product or service in Australia, or the development of an enterprise or business in Australia.
After 4 years, you may apply for a permanent visa subclass 888, provided that your entrepreneurial activity has been successful, measured by number of employees, annual turnover, innovation patents, partnerships with Universities, receiving ongoing investment or funding, or selling the venture for at least AUD2,000,000.
Investment
Significant Business History Stream
To apply for the permanent visa subclass 132 under the Business History Stream, you, your partner, or you and your partner combined must have total net assets of at least AUD400,000 as the ownership interest in one or more qualifying businesses for least two of the four fiscal years prior of application, or own shares of a publicly listed company, with a minimum shareholding of at least 10 per cent of the total issued capital.
Your net business and personal assets must be at least AUD1.5 million, have been legally acquired and can be transferred to Australia within two years after the visa is granted.
Your business must have had a total annual turnover of at least AUD3 million in one or more of your main businesses in at least two of the four fiscal years prior to application.
And you own a minimum of 51 per cent of a business with turnover of less than AUD400,000 per year, or 30 per cent of a business with turnover of more than AUD400,000 per year, or 10 per cent of a publicly listed company.
After 4 years of permanent residency, you will be eligible for Australian citizenship.
Investment
Investor Stream
To apply for the provisional visa subclass 188 under the Investor Stream, you must have scored at least 65 on SkillSelect test.
You have a high level of management skill in relation to the eligible investment or qualifying business activity, at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments and overall successful record of eligible investment or qualifying business activity.
You must make a real commitment to continuing your business and investment activity in Australia after the original investment has matured and live for at least two years in the state or territory in which you have made a designated investment.
You, your partner, or you and your partner combined must for at least one of the five fiscal years immediately before you are invited to apply, have directly managed a qualifying business in which you, your partner or you and your partner combined had at least 10 per cent ownership interest, or eligible investments owned by you, your partner or you and your partner combined of at least AUD1.5million.
During the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million that are available for legal transfer to Australia within two years of the visa being granted.
You must make a designated investment of at least AUD1.5 million in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue in your nominating state or territory.
After 4 years, you may apply for a permanent visa subclass 888 (permanent residency), provided that you still hold the investment.
Documents Required
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Certified copy of passport- Two passport-size photos
- Certified copy of ID Card
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Medical Certificate
- Original Police Clearance Certificate
- Bank Statement
- Proof of net wealth
- Certified copy of Business License or Incorporation documents
- Investment Plan
- Evidence of Business Background
- Certified copy of Business License or Incorporation documents (if applicable)
- Proof of Payment of Business Purchase
