This visa allows overseas business-owners who intends to establish a new business or operate an existing business to temporarily live in Australia.
Although this is a temporary visa, there is a pathway for this visa to permanent residency.
This visa subclass has different types of streams.
- Business Innovation Stream
This temporary visa allows overseas business-owners who are nominated by the State or Territory government to establish a new or operate an existing business in Australia.
To be eligible, the business-owner must meet the following:
- Score at least 65 points on the points test – The points test is based on the following factors: age, English language ability, qualifications, business experience, net personal and business assets, business turnover, innovation and special endorsement;
- Have a successful business career;
- Be under the age of 55 years old. If over 55 years of age, the State or Territory might invite you if your business will be of exceptional economic benefit;
- Have business ownership for 2 out of 4 fiscal years that had a turnover of at least AUD500,000 in each of those two years;
- Own personal and business assets of at least AUD800,000;
- Not have a history of involvement in unacceptable activities;
- Have at least functional English or pay the second instalment if you do not have functional English; and
- Pass the health and character requirements.
What can you do with this visa?
- Operate business and investment activity in Australia
- Travel, enter and remain in Australia for up to 4 years and 3 months
- Bring eligible members of your family with you
- Apply for permanent resident Subclass 888 Business Innovation and Investment (Permanent) Business Innovation stream if requirements are met
This temporary visa requires the applicant to invest AUD1.5 million in Australian State or Territory and maintain business or investment activity in Australia.
The applicant for this visa must be nominated by an Australian State or Territory government agency before being invited to apply for the visa.
To be eligible, applicants must meet the following:
- Be under the age of 55 years old. If over 55 years of age, the State or Territory might invite you if your investment will be of exceptional economic benefit;
- Score at least 65 points on the points test – The points test is based on the following factors: age, English language ability, qualifications, business experience, net personal and business assets, business turnover, innovation and special endorsement;
- Have the right experience of managing a successful business or investment to the value of at least AUD1.5 million;
- Have genuine intention to live in State or Territory for at least 2 years in which you have made the investment application;
- Have a net business and personal assets with a net value of at least AUD2.25 million which have been lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted;
- Not have a history of involvement in unacceptable activities;
- Have at least functional English or pay the second instalment if you do not have functional English; and
- Pass the health and character requirements.
What can you do with this visa?
- Operate business and investment activity in Australia
- Travel, enter and remain in Australia for up to 4 years and 3 months
- Bring eligible members of your family with you
- Apply for permanent resident Subclass 888 Business Innovation and Investment (Permanent) Investor stream if requirements are met
- Significant Investor Stream
The temporary visa is for applicants who are required to invest at least AUD5 million in Australian investments that complies with all the requirements to operate a new or existing business in Australia.
The applicant must be nominated by an Australian State or Territory government agency before invited to apply for this visa.
To be eligible for this visa, the applicant must meet the following:
- Not have a history of involvement in unacceptable activities;
- Have a functional English level or pay the second instalment if you do not have functional English; and
- Pass the health and character requirements.
What can you do with this visa?
- Operate business and investment activity in Australia
- Travel, enter and remain in Australia for up to 4 years and 3 months
- Bring eligible members of your family with you
- Apply for permanent resident Subclass 888 Business Innovation and Investment (Permanent) Significant Investor Stream if requirements are met
This temporary visa is for applicants who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.
To be eligible, the applicant must meet the following:
- Have a net assets of at least AUD15 million;
- Not have a history of involvement in unacceptable activities;
- Agree not to bring action against the Commonwealth;
- Have a functional English level or pay the second instalment if you do not have functional English; and
- Pass the health and character requirements.
What can you do with this visa?
- Operate business and investment activity in Australia
- Travel, enter and remain in Australia for up to 4 years and 3 months
- Bring eligible members of your family with you
- Apply for permanent resident Subclass 888 Business Innovation and Investment (Permanent) Premium Investor Stream if requirements are met
This temporary visa allows entrepreneurs from overseas who have received a funding of at least AUD200,000 from an approved entity to carry out entrepreneurial activities in Australia.
The applicant must be nominated by a State or Territory government agency before being invited to apply for this visa.
To be eligible, the applicant must meet the following:
- Be under the age of 55 years old. If over 55 years of age, the State or Territory might invite you if your proposed entrepreneur activity will be of exceptional economic benefit;
- Have a complying entrepreneur activity;
- Not have a history of involvement in unacceptable activities;
- Have a competent English; and
- Pass the health and character requirements.
What can you do with this visa?
- Operate business and investment activity in Australia
- Travel, enter and remain in Australia for up to 4 years and 3 months
- Bring eligible members of your family with you
- Apply for permanent resident Subclass 888 Business Innovation and Investment (Permanent) Entrepreneur Stream if requirements are met
