Are you a businessman of high net worth? And considering investment avenues? Consider Australia for your investment destination. Australia offers some interesting visas under business investment and innovation. There are both provisional and permanent visas available for business investors in Australia.
Why Australia is a hot favourite investment destination worldwide?
That’s the question you should explore further to understand Australia and its economy closely.
- Australian economy has shown consistent growth over past 2 decades.
- Australia is comparatively stable economy that offers safe and minimal risk business opportunities.
- 5 significant industries fuel Australia’s economy; they are – travel and tourism, education, financial services, resources and energy, and agriculture based commerce.
- Australia’s labour market is the most diverse and skilled in the world.
- Australia is strategically connected to the APAC region and the business environment of Australia has best of both eastern and western countries.
- Australia highly values innovative business ideas and provides necessary environment for its growth.
If the above reasons have sparked your interest in exploring Australia for your business and investment plans, you should also read further down about the facts of business migration in Australia.
1. The business migration has 3 categories of visas available for interested business investors: Business Talent Visa (132), Business Investment and Innovative (Provisional) Visa (188) and Business Investment and Innovative (Permanent) Visa (888).
2. Business Investment and Innovative visas must be obtained on temporary basis for minimum of 4 years before you could apply for permanent visa under business investment category. You must show you are doing consistent business in the country as required by your provisional business visa, before applying for permanent business visa.
3. Only Business Talent Visa can enable you to get permanent business visa in Australia.
4. Business Talent Visa is for you if you are exceptionally skilled in business or is obtaining funds from Australian venture capital firm or any other authorised Australian entity.
5. Business Talent Visa holders are monitored for initial 3 years in Australia. If you are applying for Business Talent Visa you may be asked to submit as much more information as you can and the documents to support your intended business interests during this time.
6. You should get nominated by a state or territory in Australia to get a business visa.
7. You should apply through Australian immigration site(DIBP)’s migration management program: SkillSelect for Business Talent Visa (132) and Business Innovation and Investment Visa (188). You will be invited by the minister of state or territory to lodge your business visa with immigration department.
8. If you are keen on applying for Business Innovation and Investment (Provisional) Visa (188); along with SkillSelect you must meet the points test requirement too. To qualify for provisional business visa under subclass 188, you should get at least 65 points to get invitation from the ministry of state or territory.
9. If you get more than one invitation from the states or territories of Australia as a response to your EOI on SkillSelect, you should lodge your visa to either any or all of them within 60 days of invitation. If you fail to do so your EOI will be removed from the SkillSelect database and you may need to submit fresh EOI for the next round of invitations.
The fact sheet above is only indicative of the entire process of business migration. You may contact us to discuss your specific business and investment plans in Australia and know which business visa category fits into your plan.