Business Skills program
The business migration program provides opportunities for successful business owners, entrepreneurs, investors and high net wealth individuals and families to obtain temporary and permanent residents status in Australia. Applicants will need to start up, buy into or purchase an Australian business or make an investment in an approved investment fund and meet a points test.
General Visa Criteria
Applicants for Business skill visas will be assessed against criteria such as:
- Age (under 55 – unless exceptional circumstances apply or significant investments can be made)
- English language ability
- Business ownership and/or investment experience
- Turnover in previous 4 years – at least $500k AUD for 2 of these years
- Evidence of your innovative business skills
- Net Personal and business assets – at least $800k AUD
- Intended business or investment activities in Australia
- Which state or territory they intend to establish business or investment activities
Temporary residents visa – Business Innovation and Investment (subclass 188) visa
Initially applicants can apply for a Subclass 188 visa. This is a temporary residents visa. There are five streams that can be applied for:
- Business Innovation Stream – For applicants that want to establish or manage a new or existing business in Australia.
- Investor Stream – For applicants that can make a designated investment of AUD $1.5 million in an Australian State or Territory bond for 4 years and maintain business and investment activity in Australia.
- Significant Investor Stream – For applicants that are able to invest AUD $5 million into complying investments for at least 4 years and maintain business and investment activity in Australia.
- Premium Investor stream – For applicants who are willing to invest at least AUD $15 million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
- Entrepreneur stream – For applicants who have a funding agreement from a third party for at least AUD $200,000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government.
Permanent residents visa – Business Innovation and Investment (Subclass 888) visa
The Subclass 188 visa is the pathway visa to applying for permanent residency under the Subclass 888 visa. The criteria that applicants will be assessed against for the 888 visa will differ depending on the initial stream that the individual applied under. This criteria can include:
- Evidence of owning and operating a business in Australia
- Personal and business assets in Australia
- Maintaining designated or complying investments in Australia
- Employment of staff, periods of residence in Australia
- Compliance with Australian taxation and relevant business law
- Periods of residence in Australia
Permanent residents visa – Business Talent (Subclass 132) visa
For those seeking permanent residents status prior to arrival in Australia there is the Subclass 132 visa. The criteria for the Subclass 132 is quite stringent and is significantly higher than the Subclass 188 Business Innovation scheme. The streams available under this visa are:
- Significant Business History or
- Venture Capital Entrepreneur
To meet the Significant Business History stream must be high calibre business people, have net business assets of $400,000, have combined net business and personal assets of $1,500,000 and have have business turnover of $3,000,000 AUD in two of the last 4 years.
To meet the Venture Capital Entrepreneur stream applicants must have sourced $1,000,000 AUD in form appropriate sources to fund the start up or product commercialisation of a high value business idea in Australia.
The visas detailed can require significant planning and detailed information about your intentions in Australia. There can also be specific requirements depending upon which state or territory the applicant intends to establish their business or investment activity. In order to meet the visa and be nominated by state or territory consultation with banks, accountants, commercial lawyers, financial advisers and other professional service providers may be required. We have affiliations with companies and advisers that can support these activities, and can provide ongoing assistance upon arrival in Australia.
Want to know more?
For some thoughts on Doing Business in Australia and the Top 5 tips on where to start please read our Blog .
If you want to know more about your visa options please get in touch.
Phone: + 44 (0)7710 649 194
Contact Us: Please send your general enquiry using the button below.