Australia Business Migration:
The world’s sixth largest country, having its capital as Canberra is known for its strong economy and diverse culture. Australia has an excellent healthcare system, a good education system, a laidback lifestyle which improves its resident’s productivity & offers more benefits. Australia has various immigration programs aiming to improve its economy by using every possible chance and has been quite successful in it over the past few years and Australia Business Migration is one such program.
What is Australia Business Migration Program?
Australia Business Migration, also known as the Business Innovation & Investment Program aims to increase the migration of entrepreneurs to Australia and augment the economic growth of Australia. If you are looking forward to migrating to Australia and you have a considerably great experience in entrepreneurship, then Australia Business Migration could be the perfect option for you. Migrating to Australia under the Australia Business Migration Program requires a visa and the Australian Government offers a series of visas for its immigrants to choose from. You could find the types of Australian Business Visa on reading further.
Types of Australian Business Visa:-
Business Innovation & Investment (Provisional Visa) Subclass 188: –
- This Australian Business Visa allows you to own & manage a business in Australian provinces.
- Grants the permission for you to conduct business and do investment activity.
- You get the rights to undertake a business activity in Australia.
Requirements for Obtaining Business Innovation & Investment (Provisional) Visa: –
- To qualify for this visa, you must be nominated by a government organization which is eligible.
- You should be invited by the government to apply for the visa.
- You should have appropriate experience in entrepreneurship.
- You should have sufficient funds to invest. (The investment amount differs according to the business stream you choose to immigrate through).
Business Innovation & Investment (Permanent) Visa (Subclass 888): –
This Business Visa is similar to the above-mentioned visa with the only exception that you will be able to obtain a Subclass 888 visa only if you possess a Subclass 188 visa.
Requirements to Obtain a Subclass 888 Visa: –
- You should already possess a Subclass 188 Visa.
- You should be nominated by a government agency of Australia.
- You should have already owned & operated a business for a period of at least 2 years in Australia.
- You should have held the designated investment as specified by the Australian Business Visa Stream you choose.
Business Talent Permanent Visa (Subclass 132): –
The Business Talent Permanent Visa is one of the types of Australian Business Visa, which allows the applicant to either start or develop an existing business. You will be eligible to hold this visa once you are nominated by a government agency or invited by the minister.
The types of Australian Business Visa Streams:-
- Business Innovation Stream: –
Business Innovation Stream is for people who people who wish to manage a new or an existing business in Australia.
- Investor Stream: –
The Investor Stream is for those people having the potential to invest at least AUD 1.5 million for business. The applicant must also be nominated by a state or territory government.
- Significant Investor Stream: –
The applicant should invest a minimum of AUD 1.5 million resembling the investments in Australia. The applicant should maintain a business & investment activity in Australia.
- Premium Investor Stream: –
Premium Investor Stream requires the applicant to invest at least AUD 15 million and will be maintaining the business and investment activity in Australia along with the nominated applicants.
- Entrepreneur Stream: –
Entrepreneur Stream is for people who wish to commercialize their product who have funding for at least AUD 200000 by a third party and the applicant must be nominated by a state or a territory government.
- Significant Business History Stream: –
The applicant can apply through this stream provided he shows proof that the applicant & his partner holds a total net business and personal assets of at least UAD 1.5 million.
- Venture Capital Entrepreneur Stream: –
This visa is for entrepreneurs who have successfully managed to source venture capital of at least $ 10 million and not more than $ 200 million can migrate to Australia through this type of Australian Business Visa Stream.
With different types of Australian Business Visas in existence, it is up to you to choose which suits best for you.
To know more about Australia Business Migration, feel free to contact our team of experts.