For 2016, World Bank ranks Australia as the 15th easiest country in which to do business.
As the economy of Australia grows, more and more entrepreneurs are setting their eye on Australia. Due to its stable political environment, skilled and multicultural workforce, competitive tax structure, and its easy access to the Asia Pacific region, Australia is regarded as an ideal location for foreign investment.
Through Australia’s Business Innovation and Investment Program, successful business people have the chance to settle in Australia and use their proven skills to develop business activity in Australia. It targets migrants with strong business acumen and a history of success in innovation, investment and entrepreneurship.
This is a nominated program with three subclasses and runs on several streams:
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
- Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
- Significant Investor stream: for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
- Premium Investor stream: for people who are willing to invest at least AUD15million 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 people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialization 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.
- Significant Business History stream: for high-caliber business owners or part-owners who want to do business in Australia
- Venture Capital Entrepreneur stream: for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
Business Innovation and Investment visa (subclass 188)
This is a 4-year provisional visa available to business owners and investors. This visa allows the applicant to:
- establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government, make and maintain complying investments in Australia or participate in a complying entrepreneurial activity in Australia
- travel in and out of Australia for the life of your visa
- bring members of your family unit with you to Australia
- seek permanent residence by applying for a Business Innovation and Investment (Permanent) visa (subclass 888)
Requirements
You might be able to get this visa if you are nominated by a state or territory government or Australian agency and are invited to apply by the Minister for Immigration and Border Protection.
Business Innovation and Investment visa (subclass 888)
This is a permanent residence visa that allows the applicant, nominated by an Australian state or territory government agency, to continue to own and manage a business in Australia. It also gives the applicant and his family certain privileges such as:
- stay in Australia indefinitely
- work and study in Australia
- enroll in Medicare, Australia’s scheme for health-related care and expenses
- apply for Australian citizenship (if you are eligible)
- sponsor eligible relatives for permanent residence
- travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).
Requirements
The applicant might be able to get this visa if you are nominated by a state or territory or the Australian government; and
- hold a provisional Business Innovation and Investment visa (subclass 188) and have met the requirements of that visa in the stream in which he first applied or
- hold a Special Category visa (subclass 444) and have met the requirements of the business innovation stream.
Business Talent visa (subclass 132)
This is a permanent residence visa that allows the applicant, nominated by an Australian state or territory government agency, to establish a new or develop an existing business in Australia. The applicant and his family are entitled to:
- stay in Australia indefinitely
- work and study in Australia
- enroll in Medicare, Australia’s scheme for health-related care and expenses
- apply for Australian citizenship (if you are eligible)
- sponsor eligible relatives for permanent residence
- travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).
Requirements
The applicant might be able to get this visa if he is nominated by a state or territory government agency and is invited to apply by the minister.
Applicant must also either:
- have net business and personal assets of at least AUD1.5 million and an annual business turnover of at least AUD3 million if he intends to apply for the visa in the Significant Business History stream, or
- have obtained at least AUD1 million in venture capital funding to start the commercialization and development of a high-value business idea in Australia if he intends to apply for the visa in the Venture Capital Entrepreneur stream.
If you are a businessman or an investor considering doing business in Australia, increase your chances of success by applying with NASC.
