If you are thinking of setting up a business in Australia or invest in an already existing business there, then you must apply for a business visa. Australia offers several categories of business visas for such individuals.
The Australian business visa program helps business owners, senior executives and investors to come here for business purposes and develop new or existing businesses in Australia. This can also be a pathway to permanent residency.
In fact, there are two pathways for Business Skills entry to Australia:
- If you have a provisional business visa (Business innovation and investment (provisional) visa), you will be eligible for permanent residence after establishing your business
- Business visa applicants with extensive experience (Business talent visa) can be sponsored by a state or territorial government for PR visa
Business Innovation and Investment (Provisional) visa:
With this visa, you can own and manage a business in Australia or conduct a business or investment activity entrepreneurial activity in Australia.
Basic eligibility requirements for this visa stream:
- Submission of your Expression of Interest in SkillSelect
- Nomination from a state or territory government agency or Austrade
- Invitation to apply
The provisional visa program has seven categories:
- Business Innovation Stream- This provisional visa allows you to operate a new or existing business in Australia. You must be nominated by an Australian State or Territory government agency or Austrade.
- Investor stream- For this, you will require at least AUD 1.5 million in an Australian state or territory and maintain your business and investment activity in Australia.
- Significant investor stream- People willing to invest at least AUD 5 million in Australian investments can apply for this visa. They must be nominated by an Australian State or Territory government agency or Austrade.
- Business innovation extension stream- With this visa holders of the Business Innovation and Investment (Provisional) visa can extend their stay in Australia for 2 more years. For this extension, applicants must have had Business Innovation stream visa for at least 3 years and must be nominated by an Australian State or Territory government agency or Austrade.
- Significant investor extension stream- With this visa holders of the Significant Investor stream can extend their stay in Australia for up to 4 more years. For this extension, applicants must have had Significant Investor stream for at least 3 years and must be nominated by an Australian State or Territory government agency or Austrade.
- Premium Investor stream-This visa requires nomination by Austrade and an investment of at least AUD 15 million in Australian enterprises or in philanthropic contribution.
7. Entrepreneur stream-With this visa you can carry out entrepreneurial activities in Australia.
All these visa subcategories have a validity of four years and 3 months.
Steps to apply for a provincial business visa:
- You must submit an expression of interest through the Department of home affairs
- Wait for a nomination from a state or territory or from Austrade by waiting for an intimation from them or you can contact them directly
- Once you receive an invitation you can apply for a visa
The business of the visa holder must do any one of the following activities:
- Build business links with international markets
- Generate employment in Australia
- Use Australian goods and services
- Produce goods or provide services that would alternatively have to be imported
- Create new and improved technology Australian Business Visa Assessment
Path to permanent residency:
The Business Innovation and Investment (Provisional) visa can be your pathway to permanent residency. You can apply for your PR visa if you have stayed on the Subclass 188 visa for at least one year and meet the financial requirements. Apart from this, you will have to give evidence of your enduring business interest by making regular investments and recruiting local workers for your business.
The provisional business visa (Subclass 188) visa categories provide various options to set up your business in Australia. Talk to an immigration consultant to know more about them.