Business skills program – permanent residency visas

The business migration program provides opportunities for successful business owners, entrepreneurs, investors and high net wealth individuals to obtain temporary and permanent residents status in Australia.

Applicants will need to prove their business background and business and personal assets. To obtain their visa they will need to either start up or buy into an Australian business, make an investment in an approved investment fund or state/territory bond or find an approved venture capital partner to establish a business.

Permanent residency business visas

To be eligible for a Permanent residents business visa, you will generally either meet the criteria for the below:

  1. Business Innovation and Investment (Subclass 888)
  2. Business (Subclass 132) Talent visa

Details about these visas can be found below.

Business Innovation and Investment (Subclass 888) visa

If the applicant is a holder of the Subclass 188 visa, an applicant can then apply for permanent residency under the Subclass 888 visa.

The criteria that applicants will be assessed against for the Subclass 888 visa will differ depending on the initial Subclass 188 stream that the individual applied under.

This criteria can include:

  • Turnover – minimum $300,000 AUD in the previous 12 months (Business innovation stream)
  • Evidence of owning and operating a business in Australia (Business innovation stream)
  • Your personal and business assets in Australia
  • Investments – maintaining designated or complying investments in Australia for the required period of time (varies according to initial investor stream applied for)
  • Employment of staff periods of residence in Australia (Business innovation stream)
  • Employment of staff periods of residence in Australia (Business innovation stream)
  • Compliance with Australian taxation and relevant business law
  • Periods of residence in Australia
  • Compliance with and ongoing nomination from a state/territory government
  • Health and character requirements

Business Talent (Subclass 132) visa streams

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 the Subclass 132 visa are:

  1. Significant Business History or
  2. Venture Capital Entrepreneur
Subclass 132A – Significant Business History stream

To meet the Significant Business History stream must be high calibre business people and meet the following:

  • Be under 55 – unless exceptional economic circumstances apply to the region that you intend to operate business in
  • Have had ownership of a qualifying business/businesses
  • Have net business assets of $400,000
  • Have combined net business and personal assets of $1,500,000
  • Have business turnover of $3,000,000 AUD in two of the last 4 years.
  • Have a desire to own and manage a business in Australia
  • Meet state/territory nomination requirements – these vary by state/territory and generally include minimum investment commitments
Subclass 132B – Venture Capital Entrepreneur stream

To meet the Subclass 132B Venture Capital Entrepreneur stream applicants must have sourced $1,000,000 AUD from a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL)

The funding must be for the start-up, product commercialisation or business development of a promising high-value business idea.

Support Services

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.

Banks, Accountants, Lawyers, Financial Advisers, DIBP approved fund mangers ….

In order to meet the visa requirements, and to be nominated by state or territory government department, consultation with banks, accountants, commercial lawyers, financial advisers, fund managers 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.

AVCAL approved firms

For the Subclass 132B Venture Capital Entrepreneur stream we can introduce applicants to firms that are registered with AVCAL (Australian Private Equity and Venture Capital Association Limited). Once we assess that you are eligible for this visa, we can make an introduction.

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 .

Are you eligible?

If you want to know more about the visas, and whether you are eligible please Contact Us for an assessment.

Migration Agents Registration Number