What is a Business Visa?
Business visas are an excellent pathway to Permanent Residency and Australian Citizenship (if desired). If you would like to investigate your options please contact us to discuss your requirements.
Business Skills visas are a complex area of Australian Migration Law and Regulations. BlueRoo Visas retains in-house the services of a Chartered Accountant to assist with these complex applications. Applicants need to be aware of Australian Corporate and Taxation laws and how various corporate structures impact on applications and the viability of certain business models.
Business skills visas are part of the Skilled Stream
These are the visas that enable the entry high quality business or investor migrants into Australia.
Most business skills visas involve a two-stage application process. The first stage requires business migrants apply for a provisional visa (Class EB subclass 188) and then if they meet certain criteria apply for a permanent visa (Class EC subclass 888). In addition there is a permanent visa that can be applied for without first going through the provisional stage, the Business skills – Business Talent (Permanent) (Class EA) subclass 132 visa.
Provisional Business Skills Visa
The Provisional Business Skills visas are part of SkillSelect, which means that a person is not able to apply for a provisional visa directly but must first lodge an Expression of Interest (‘EOI’) and wait to be invited to apply for a visa.
The Provisional visa is called the Business Innovation and Investment (Provisional) (Class EB subclass 188) visa and within this subclass there are five streams:
- The Business Innovation Stream for people who want to own and manage a business in Australia;
- The Business Innovation Extension Stream for holders of the Business Innovation visa who need more time to satisfy the criteria for the permanent visa;
- The Investor Stream for people who want to make a designated investment of at least AUD1.5 million in a State or Territory and maintain business and investment activity in Australia;
- The Significant Investor Stream for people who have AUD5 million to invest in Australia; and
- The Significant Investor Extension Stream for holders of the Significant Investor visa who need more time to satisfy the criteria for the permanent visa.
Apart from the common criteria, some of the requirements within these streams are similar while others are quite different. Applications are complex and require a sound understanding of all of the requirements.
To lodge an EOI for the Business Innovation or Investor Streams, other than the Significant Investor streams, the applicant must be:
- Less than 55 years of age (though a State or Territory Government can waive this if the proposed business is of exceptional economic benefit);
- Have a successful business or investment history; and
- Have adequate personal and business assets.
There is also a points test – the ‘innovation points test’ – and the person must score at least 65 points on this test and be nominated by a State or Territory to get an invitation to lodge a subclass 188 visa. There are then additional requirements depending on the application stream.
Permanent Business Skills Visa
A subclass 188 visa that has not been approved under an extension stream is valid for 4 years and the person can apply for the permanent Business Innovation and Investment (subclass 888) visa after holding the provisional visa for 2 years if in the Business Innovation Stream, or 4 years if in the Investor or Significant Investor Streams. They will be required to meet certain criteria, which differ depending on the stream in which the person applied. It is important to note that the person who was the primary visa holder at the provisional stage must also meet the primary criteria at the permanent stage.
While there is no requirement to lodge an EOI at the permanent stage, it is still required that the person has a State or Territory nomination.
It should be noted that NZ citizens in Australia holding subclass 444 visas and who own and manage a business, can apply for a subclass 888 visa without first holding a subclass 188 visa.
Permanent Business Skills Visa — Business Talent
The Business Talent visa has existed for several years and has been the only way for a business person to apply for a permanent visa without first holding a provisional visa or already having a business in Australia. This visa is part of SkillSelect (so an EOI has to be lodged first and the person must be invited to apply for the visa) and it is divided into two streams:
- The Significant Business History Stream for people who have an ownership interest in a sizeable business (annual turnover of over AUD3 million) and who want to have a major management role in a business in Australia; and
- The Venture Capital Entrepreneur stream for people who are intending to invest at least AUD1 million in a business venture in Australia.
What are Investor/ Retirement Visas?
Investor Retirement Visa Subclass 405
This is only for self-funded retirees who have no dependants and who want to live in Australia during their retirement years. It is a Temporary visa and does not lead to Australian permanent residence or citizenship. If you are granted this visa you can:
- Work in Australia up to 40 hours per fortnight
- Have multiple travel entry
- Live in Australia for four years
- Have your partner accompany you to Australia.
The requirements you must meet to be eligible for this visa are:
- Age – you must be 55 years of age or older. Your partner (if any) can be any age.
- Sponsor – you must be sponsored by an AustralianState or Territory government agency (other than the Australian Capital Territory).
- Family – you must have no dependent children or other dependent family members other than a partner. If you are married, or in a de facto relationship, your partner must have no dependent children or other dependent family members.
- Assets – you must have assets valued at least $750,000 AUD. These assets will enable you (or you and your partner) to meet initial settlement and ongoing costs of living in Australia.
- Assets – must be legally owned and lawfully acquired by you (or you and your spouse), and capable of and available for, transfer to Australia.
- If you intend to live in regional Australia you must have assets valued at least $500,000 AUD and you must have held all of the assets listed above for 2 years prior to you lodging your application (unless the assets are related to superannuation and/or inheritance). If you intend liquidating assets to transfer to Australia you should not do so until advised by DIBP.
- Income – you (or you and your partner combined) must have access to a minimum net income of $65,000 AUD per annum.
- If you intend to live in regional Australia you must have access to a minimum income of $50,000 AUD per annum.
- Designated Investment – you must be able to make a designated investment of $750,000 AUD in your name (or your and your partner’s name) in the state or territory in which you are being sponsored. If you intend to live in regional Australia, the investment amount is $500,000 AUD.
Retirement Visa Subclass 410
This visa is not available to new applicants other than:
- Existing Retirement visa (subclass 410) holders and their partner to roll-over their current visa
- Former Retirement visa (subclass 410) holders and their partner who have not held another substantive visa since their Retirement visa ceased
- Newly married partners of current Subclass 410 visa holders
If you are granted this visa, during its validity you can:
- Leave and re-enter Australia at any time
- Work full time while in Australia
- Undertake study in Australia.
This visa is a temporary residency visa. It does not lead to permanent residency in Australia or to Australian citizenship for retirees. The renewal of this visa is now issued for 10 years (previously 4 years).
