Australia Business Migration (2017) – The Complete Guide
Australia Business Migration (2017) – The Complete Guide
Australian Immigration Business Skills Visa, is available to businessmen, high net worth individuals, or venture capital firms, who have established business enterprises and/or keen to invest in Australia. Australia being one of the best and stable economies in the world, is highly attractive investment destination. The Australia Business Visas are given to experienced business people to migrate to Australia and set up their businesses or invest in businesses in Australia. The Australian government has made business immigration to Australia from across the world very encouraging.
Australia Business Visa Requirements:
Investors Visa in Australia requires few guidelines to be met, which are different from guidelines set for individuals and travellers. There are again 3 types of Investor Visas available for you to choose. We will help you select suitable category for you, based on the size of your investment and interest. Higher the investment, higher will be the benefits offered by the Australian states and lesser will be the eligibility criteria for permanent residency.
- Business Innovation Stream
- Investor Stream
- Significant Investor Stream
- Premium Investor Stream
- Entrepreneur Stream
I. Business Innovation Stream:
This stream of visa category is for those businessmen with proven business skills who intend to start, develop and manage either a new or an existing business in Australia.
Requirements for Business Innovation Visa for Australia:
Apart from age and points test criteria that are some mandatory criteria for all the business visa categories (explained in business investor visa); Business Innovation visa applicants must meet these requirements:
Out of 4 fiscal years immediately before applying for business innovation visa for Australia, 2 years of which you must have had minimum turnover of AUD 500,000 in the businesses in which you had ownership interest.
Own at least one of below mentioned businesses:
- 51% of the business, if the turnover of it is less than AUD 400,000, per year.
- 30% of the business, if the turnover of it is AUD 400,000 or higher, per year.
- 10% of the business, if it is public listed company.
You alone or in partnership, must own at least AUD 800,000 of net assets that are lawfully accumulated and legally transferrable to Australia, if business visa is granted.
II. Investor Stream Visa for Australia:
Since the very common category in investor immigration to Australia is Investor Stream, we have elaborated the eligibility criteria for Investor Visa for Australia below.
Read the detailed guideline for getting visa for business investment in Australia under Subclass 188. The business investment visa (subclass 188) is initially granted on provisional basis for 4 years. Upon completion of the provisional term and meeting the eligibility criteria, the business migrants can apply for Australia Permanent business visa under subclass 888.
- Age: The general guidelines for age criteria for individual visas is, the applicant should be below 50 years. However, for Australian Business Visa application, the age criterion is set up to 55 years.
If, the proposed investment plan is remarkably lucrative and forecasts to bring in great economic benefits, the state may extend the age criteria for business investors to 59 years.
- Points Test: The business investment Visa is granted to those applicants who score at least 65 points on points test.
- Proven Management Skills: Investor immigration to Australia is very common phenomena in the recent years. To be considered for invitation from DIBP (Department of Immigration and Border Protection), the applicant must show that they possess impressive management skills corresponding to the proposed investment plan and business activity.
- Experience: The business investor visa applicants in Australia, must have minimum 3 years of thorough experience in similar business ventures or handling equal amount of planned investment.
- Previous track record: To become eligible for business investment visa in Australia, you should show successful business track record in similar or larger business enterprises or investments.
- Commitment: You, as a business investor, should show genuine and consistent interest in investing and running the business in Australia, for the DIBP to invite you for applying business investor visa.
- Intention to live in Australia: Business visa applicants should also show that they intend to stay in Australia for at least 2 years in the state where they have made the intended investment.
- If you are investing in partnership: It is mandatory for the business investment visa applicants, either solely, or in partnership to have managed a business enterprise and/ or investment of proposed size directly for at least one year in the last 5 fiscal years before the invitation for application is issued by DIBP. It can be either in a way of: 1) Owning AUD 1.5 million either solely, combined or by your partner. OR; 2) either you, your partner or both of you must own at least 10% of ownership interest in the proposed business or similar business interests.
- Mobilisation of investment: The Department of Immigration and Border Protection must be shown that you own minimum of AUD 2.25 million as net assets / business just before 2 years of receiving invitation for investment visa in Australia and that you can legally transfer the funds to Australia within 2 years of your investment visa issuance.
- Illicit business interests: The business investment visa in Australia is not issued to applicants with illicit business interests. One must prove to the business immigration authorities of Australia, that they have genuine interest in carrying out business in Australian territory and abide by the laws.
- Investment: Business immigrations as a form of investments are supposed to invest at least AUD 1.5 million in the designated territory of Australia and hold the same for at least 4 years after the business investment visa issuance. The invested funds must be derived from either eligible business or appropriate funds ready to be invested (Refer point 8 above)
Business people, who are looking for greener pastures to invest their money and establish businesses can check out their eligibility against the above-mentioned Australia Business Visa requirements and if eligible, can proceed with applying for business visa.
The taxation laws of Australia apply to every business investment and venture of business immigrants. One business immigration visa application will suffice, even if you have one or more business ventures. The turnover of 2 of your substantial business ventures can be combined to reach the marked business turnover / assets in eligibility criteria for business investment in Australia.
There is no compulsion as to what kind of business you should start or invest into as long as you are meeting the business visa requirements set by Australian immigration authority. Once you get permanent residency status, you are free to do whatever you want.
Under Provisional Business Investor Visa, you can bring your family / dependents. However, your spouse cannot start a business under your investor visa, where as he/she can work in Australia. The schooling is available for the school-age child/children.
III. Significant Investor Stream Visa for Australia:
Australian immigration department provides investor visa for those willing to invest AUD 5 million at the minimum under Significant Investor Visa over 4 years.
Requirements of Significant Investor Visa:
Commitment: As an applicant in this category, you should prove your genuine interest and commitment to reside in the state or territory that nominated you.
Continuation of Business/ Investment Plans: Even after your provisional visa concludes, you should continue your business or investment plans drawn for Australia.
Australia as your residence: You must reside in Australia for at least 40 days in a year, during your provisional visa period OR prove your spouse have lived in Australia for at least 180 days in a year during the period of your provisional visa.
In case of Partnership:
You, your partner either individually or combined must have acquired net assets worth AUD 5 million legally and the same can be complied to be invested in Australia.
Neither you nor your partner must have been engaged in unlawful business or investment activities.
Action against Commonwealth: You and your family members who are over 18 years must assure that you will not bring any action against Commonwealth, in case you incur any loss of investment in Australia.
As with all other laws, taxation laws apply to Significant Investor visa category too.
It is highly advised that you seek legal advice to know what is ‘complying significant investment’ and whether your investment options comply with the required investment criteria.
Professional immigration service providers help you in weighing your investment options, and arranging relevant documents.
IV. Premium Investor Stream Visa for Australia:
Australian investor visa under Premium Investor Visa category is for those who are willing to invest at least AUD 15 million and comply with the premium investments criteria in Australia. This investor visa is extended to only those applicants who are nominated by Austrade, on behalf of Australian Government.
Continuation of business/ investment: As a Premium Investor Visa holder, you should continue your business and/ or investment plans in designated Australian state/ territory even after your provisional visa concludes.
Net assets available for complying investments: Must be of at least AUD 15 million (acquired by you / your partner / your spouse / your de facto partner).
None of you must have any record of being engaged in unacceptable business interests or investment activities.
As specified in Significant Investor Visa requirement, you, your family members over 18 years and your partner must agree not to bring action against Commonwealth in case you incur loss of your investment.
Income you earn under this category is governed by Australian taxation laws, as applicable to any businesses operating in Australia.
Under Premium Investor Visa, your complying investment can be made under following options:
- Australian state/ territory approved humanitarian activities.
- Deferred grants issued by Australian Life Companies.
- Australian proprietary limited businesses.
- Real estates in Australia, this does not include residential properties.
- Assets listed under Australian Securities Exchange.
- Bonds issued by Australian Government / Semi government agencies.
- Corporate bonds issued by a business enterprises listed on Australian Exchange or AFS licenced debt rating agency for investment rated corporate bonds.
V. Entrepreneur Stream Visa for Australia:
Investment immigrants to Australia can apply under Entrepreneur Visa if they have arranged a 3rd party to invest at least AUD 2,00,000 into Australia. The investment may either be utilised to set up a new business, or fund an existing business for expansion, which will lead to development of commercial products and services.
On meeting the below requirements, the investment can be funded by:
- Australian state or territory
- Commonwealth government agency
- Research organisation that has publish funding
- Approved higher education provider
- Investors registered as Early State Venture Capital Limited Partnership or Australian Venture Capital Limited Partnership.
Requirements for Entrepreneur Stream Visa for Australia:
To apply for Entrepreneur Visa, one must meet the above-mentioned requirements of business Investor Visa category, in terms of age, English language proficiency and genuine interest in carrying out business in Australia.
Another important requirement in business immigration visa type, is the applicant must engage in ‘Complying Entrepreneur Activity’. Meaning, the applicant can engage in any business activity that leads to commercialisation of products or services, excluding; labour hire, residential properties and buying out an existing business entity or franchise in Australia.
At the least 10% of the funding must be payable to the entrepreneurial venture within a year of its starting in Australia.
As a business investor, you should have at least 30% business interest in the venture.
A thoroughly thought out business plan must be in place to show your keenness in your entrepreneurial interest.
We at DMS Migration Services, help you understand the knick-knacks of the eligibility requirements of business visa for Australia and support in the process of business / investment proposal submission and visa application.
So, how to get Business Visa in Australia?
State Sponsorship: Submit your expression of interest (EOI) through SkillSelect online. You must have investment plan and / or business proposal to the desired state in Australia. The plan should comprise an extensive study of Australian business scenario. You should nominate a state/ territory of Australia as your chosen destination through SkillSelect from DIBP site.
Once the state nominates your business investment visa application, the Department of Immigration and Border Protection sends you an invitation to apply for intended business visa within 60 days.
Since the visa application requires lot of paperwork, we will help you ready and organise your numerous documents in place for submission.
You can include your family members while you are lodging business visa for Australia on DIBP site. You can include your spouse or de facto partner, your or your partner’s child/ step-child in the visa application along with supporting documents that prove the claimed relationship. You and your family members must meet health and character requirements before visa is issued.
How do you get Permanent Business Investor Visa in Australia (subclass-888)?
If you are a business immigrant, holding Provisional Business Investor Visa under subclass 188, or 444 (Special Category Visa), and eager to get Australia Permanent Business Visa, you should meet these below requirements:
- You already hold a Provisional Business Investor Visa of Australia and meet all the necessary requirements under this category.
- If you meet the primary requirement of being nominated by an Australian state / territory / Austrade for Permanent Business Visa.
- If you are a spouse or a de facto partner of the primary business innovation and investment visa holder, you are considered as a secondary visa holder. As a secondary visa holder, if you meet all the necessary requirements under relevant category visa in Business Innovation and Investment Visa stream.
- You are the holder of Special Category Visa under subclass 444, and meet the necessary requirements under Business Innovation Visa stream.
- You or your partner or both of you are not involved in any illicit / unwanted activities during this period.
- You genuinely intend to live and establish business or invest in businesses in Australia.
- Your business / investment plan is still sponsored by the state / territory government agency.
- Both you and your partner, comply with Commonwealth Laws and laws of respective state or territory of Australia, where your business exists.
Apart from the above key requirements for Permanent Business Visa for Australia, one must fulfil these below criteria too in their respective business visa stream.
For getting Permanent Visa for Business Innovation Stream, you must have been in Australia and have held either Special Category Visa (444) or Business Innovation and Investment Provisional Visa (188) for at least 1 year out of 2 years before immediately applying for permanent business visa.
You must also show continuity in your business operations.
For getting Permanent Visa for Business Investor Stream, you must have been in Australia and have held Business Investor (Provisional) Visa for at least 2 years out of 4 years before applying for permanent visa in this category.
You and/ or your partner must have made agreed amount of investment for last 4 years in the state/ territory of Australia.
For getting Permanent Visa for Significant Investor Stream, you and/or your spouse must have lived in Australia for certain period and have held provisional or Extension Significant Investor Stream Visa.
You must also show that for last 4 years you have made complying investments in Australian state or territory.
For getting Permanent Visa for Premium Investor Stream, you must have held provisional premium investor visa for at least 1 year and nominated by Commonwealth government.
For getting Permanent Visa for Entrepreneur Stream, you must have been in Australia and have held provisional entrepreneur visa for at least last 4 years.
You must also show successful performance of your entrepreneurial venture.
The Permanent business investor visa gives you more benefits than the provisional business investor visa in terms of freedom to your business plans, more educational options to your family, Medicare sponsored by state, and eligibility to apply for Australian citizenship in due course of time.
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