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  • Home
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      • About Mygration
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Talk to a Business Visa Consultant - Australia

Do you have business skills and experience and are you seeking to establish, develop, and manage a new or existing business in a specific State or Territory in Australia? If so, you could be eligible for an Australian business visa. Australia offers a wealth of business innovation and exciting opportunities - along with plentiful natural resources, energy, digital technologies, agribusiness and food, healthcare and infrastructure. Explore the Australian Business migration requirements below to see if you qualify to enter Australia with a business owner visa.
Business Migration
SC188 A - Business Innovation Visa
Business Visa - Australia
Fees
Permanent Residency Pathways
Information
Business Visa - Australia

The provisional Business Innovation Visa (often referred to as SC188A) is for successful business owners and business innovators. It is open to those who intend to conduct business in Australia and contribute to the growth of the Australian economy. Business owners up to the age of 55 years who have business management and ownership experience for at least 2 years or longer must use those business skills to obtain a substantial ownership interest in a new or existing business in Australia and actively participate in that business at a senior management level. The main objective is to maximise the number of business migrants successfully engaging in business in Australia and to achieve better dispersal of the business migration intake to enable regional and low growth areas of Australia to attract business persons they need to promote regional economic development and growth. Persons who successfully establish a business while holding the provisional Subclass 188 Innovation Visa are provided with clearer pathways to permanent residence when meeting specific criteria from the first 3 (three) years of operation. You can lodge this visa from Australia or outside Australia.

THIS VISA

  • allows you to carry out business and investment activity in Australia
  • allows you to travel to, enter and remain in Australia for the validity of your visa grant i.e. 5 years
  • allows you to bring eligible dependent members of your family unit with you to Australia
  • allows you to apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Innovation stream
  • requires State Government or Territory Nomination approval and applicants must satisfy the nominated state or territory government criteria
  • allows for english exemptions for the main applicant and spouse/partner if base english requirements cannot be met
  • does not require a skills assessment or employment offer
  • requires that main applicants meet the minimum threshold of 65 points to be considered for an Invitation for Expression of Interest

KEY CRITERIA – [All of the following must apply]

  1. The primary criteria that must be met as foundation requirements specific to the SC188A stream is that Business Owner applicants must have had, for 2 of the 4 fiscal years’ preceding the visa application, an ownership interest in a main business that had an annual turnover of at least AUD$750 000 for each of the 2 financial years
  • If the foundation criteria are not met, then this visa is not suitable. You would need to be assessed against other business visas eligibility criterion.
  1. In assessing primary financial assets value of both business assets and or/personal assets, all assets owned both by main applicant and partner/spouse combined can be used to meet the minimum threshold value of AUD$1,250,000 million
  • If the base financial asset foundation criteria cannot be met, then this visa is not suitable. You would need to be assessed against other business visas eligibility criterion
  1. In assessing ownership interest, the main business that will be used to meet criteria 1 and 2, you must have held more than 30% equity for each of the 2 main fiscal years
  • If your ownership or equity interest cannot be evidenced or is less than 30% shares, then this visa is not suitable. You would need to be assessed against other business visas eligibility criterion

This is a temporary or provisional visa and is points tested. Higher Points may be allocated if you can provide substantial business supporting evidence to demonstrate higher turnover, asset value and years of business management operation. Audited financials by an external and reputable auditor are required to support your points claims. Applicants who have operated their businesses in Hong Kong or Mainland China will need special purpose audit reports for their application. Additional factors which can enhance or affect your points threshold at the time of invitation include your age, english language levels, educational qualifications, innovation patents or trademarks registered, and financial venture capital funding received for your current business operations.

You must have a genuine and realistic commitment to:

  • Establish or co-invest in an eligible Australian business by obtaining a substantial ownership interest in the business/s after arrival
  • Transfer a minimum of AUD$1,250,000 million to Australia within 12 months of visa grant
  • Operate your Australian business on a day-to-day management level 
  • Ensure your business meets certain success factors for the permanent business eligibility criteria for the subclass 888 A visa
Fees
SC188 A BUSINESS INNOVATION VISA APPLICATION PROCESSING FEES
State Government Nomination Fees (TBC)$500.00 – $850.00
Immigration Application Fees Main Applicant [Business Owner]$6,085.00
Immigration Application Fees Partner or Spouse $3,045.00
Immigration Application Fees Child over 18 years under 23 years $3,045.00
Immigration Application Fees Child under 18 years under 23 years$1,520.00
ADDITIONAL ESTIMATED COSTS
Business Legal & Advisory Fees [Set Up or Acquisition]TBC
Mygration Professional Service Fees [excl.gst]See more
Medical Exams for Migration (per person)TBC –up to $400.00
Police Clearance Certificates must be obtained from all countries resided in
for longer than 12 months in the last 10 years (over 16yrs)
TBC –up to $50.00 p/p
Key Identity Document Translations & CertificationTBC –up to $50.00 p/doc

WHAT WE DO FOR YOU

  • You complete our contact form to discuss your business migration to Australia through an initial in person meet or through zoom video meeting and discuss your specific needs
  • We send you our initial Business Assessment form to complete and provide to us for a scheduled meeting to which we will discuss your business meeting the ownership/turnover/operational activities and financial asset valuation to ensure this meets with assessment criteria Australia regulations and needs

Additional Matters will be considered in our discussions such as:

  • the type of business/es you have been operating in the last 2-7 years
  • the size of the business
  • your specific role in the management of the business
  • the relevance of other professional, technical, or trade-qualified staff employed in the business/es
  • your affiliations (if any) with professional, business/management or other relevant organisations and
  • Operational processes and structure evidence for all key personnel including business owners core functions
  • We will introduce you to reputable Legal and Business Advisory Firms that operate in the chosen State or Territory with experience to your industry & skills sets. They will assist in business feasibility & due diligence relating to all your business needs
  • Mygration will assist to prepare and lodge State nomination & Visa applications
  • We will assist with Bridging Visa applications
  • Processing times vary and change continuously. Our current Subclass 188 Business Innovation Visas are taking 12 weeks to prepare from engagement and a further 6-18 months to be finalized by Department of Home Affairs Processing Centre. Factors affecting the processing times are backlogs related to Covid restrictions and/or location of businesses operating in China or Hong Kong.
Permanent Residency Pathways
SC888 A – Business Innovation (Permanent) visa
 
POST VISA GRANT CRITERIA

Once the SC188A visa is granted – applicants who have operated their Australian approved business may be eligible to apply for SC888A Permanent visa after 3 years of holding the SC188A and meeting other main requirements such as;
Business ownership, Turnover & Asset requirement post visa grant before applying for Permanent residency

  • For the 3 years immediately before you apply for the permanent visa, you must have:
  • had, and continue to have, an ownership interest in up to two main businesses in Australia
  • had a direct and continuous management role in that business or businesses
  • submitted Business Activity Statements to the Australian Taxation Office & have an ABN for each of your businesses

For the 24 months immediately before you apply, you must own at least:

  • 51% of the total value of a business with a turnover of less than AUD400,000 per year, or
  • 30% of the total value of a business with a turnover of AUD400,000 or more per year, or
  • 10% of the total value of a business that is operated by a publicly listed company

Your main business or businesses (or the business or businesses of your spouse or de facto partner, or of you and your spouse or de facto partner together), had an annual turnover of at least AUD300,000 in the 12 months immediately before the application was made

Business and Personal Asset requirement for Business migration to Australia
For the 12 months immediately before you apply, you or your partner (or you and your partner together) must show at least 2 of the following:

  • assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia
  • personal and business assets in Australia of AUD600,000 net value
  • equivalent of at least 2 full-time eligible employees in your main business

Residence Requirement
You must have been residing in Australia for at least 1 year in the 2 years immediately before you apply for the permanent stage of the Subclass 888 A Innovation Visa if you lodged a SC188A Innovation visa or SC188A Innovation Extension visa before 1st July 2021. 
Applicants who apply for and are granted a Subclass 188A or 888A Innovation visa after the 1/7/2021 must reside in Australia for a total period of at least 1 year in the 3 years immediately before applying for SC888 Permanent stream

Information

SETTING UP YOUR NEW BUSINESS IN AUSTRALIA

Once your visa is lodged, you may begin setting up your new business. In setting up a new business, you will ideally hold 100% shares of your business. You are also able to establish a discretionary trust and assign your new company as the corporate trustee of your family trust. The corporate trustee company (Pty Ltd) would be the start-up company used for operation for goods and services in line with your Business Innovation Visa requirements.

If you are outside Australia and require assistance, we can assist you by facilitating all business migration requirements on your behalf with trusted legal and accounting professionals who are experienced in the international business startup space. Applicants who are in Australia at the time of lodgement, will receive a bridging visa A after lodging their visa applications. This bridging visa will come into effect after the visa you have arrived with expires. Once the bridging visa takes effect (and as long as it has not conditions or restrictions) you can commence your business activities.

General Startup Expenses (depending on the business type) can range from $100,000 – $150,000 for Small Enterprise. For Medium enterprise, set up costs are estimated above $200,000 AUD. The Business Innovation Visa requires that you transfer AUD$1,250 000million to Australia of which needs to be set aside for your new business and the balance of the funds can be attributed to acquiring residential property. The amount required to be utilized for business purposes is subject to whether you will operate your business in metropolitan or regional areas. State or Territory governments will also influence the allocation of these funds depending on the nature of business you intend to operate in Australia

Factors to consider when starting your business in Australia

  • Company registrations and all Tax registrations for accounting fees
  • Digital & Marketing
  • Government licensing and registration (specific to industry)
  • Lease for premises/facilities
  • Materials and Equipment office furniture hire /purchase
  • Public Liability Insurance
  • Website Development
  • Other IT (security/software etc.)
  • Recruiting team
  • Legal Fees
  • WHS procedures in accordance with Australian state government legislation

During our initial consultation, we will elaborate further on New Business Processes and Investment opportunities in Australia

MATCH AND INVEST

Setting up a new business as a new migrant in Australia can be challenging when arriving to a new country, many business owners have opted to obtain a substantial ownership interest in an existing business in Australia and actively participate in that business at a senior management level. Owning substantial interest in an existing business means that you should acquire minimum of 30% equity shares and can be up to a max 100% depending on your chosen business venture.

Most Australian business owners seeking investment will generally provide their brokers a full financial history of their business and will have the business valued by their own professional providers. In determining the value of the business, you intend to invest in, it is important to ensure that due diligence is undertaken for this business by reputable solicitors and accounting firms who will provide you with key information pertaining to the full value of the business and any associated risks.

The negotiation phase involving entering a partnership with an existing Australian entity can be a smooth one or challenging. It is important to consider your preference and management style before investing into an existing business.
Other alternatives to partially acquiring equity interest, is choosing to purchase an existing business outright. This would provide you with full operational and management control. 

We work with registered Australian business brokers to source businesses that match your skill set, industry experience and preference.
Once your visa is lodged, you may then finalise your business purchase. If you are outside Australia and require assistance, we can facilitate all requirements on your behalf with trusted legal and accounting professionals who are experienced in business sales & acquisitions. Enquire about Australian Businesses seeking international joint ventures.

SC188 E - Business Entrepreneur Visas
Overview
Fees
Permanent Residency Pathways
Information
Overview

THIS VISA ALLOWS YOU TO:

  • carry out business and investment activity in Australia
  • travel to, enter and remain in Australia for the validity of your visa grant
  • bring eligible dependent members of your family unit only with you 
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream if certain requirements are met

This Visa is not points tested, does not require any skills assessment, does not require employer sponsorship, and does not require business financial historical documents

POST 1 JULY 2021
Subclass 188 Entrepreneur Visa applicants invited to apply after 1 July 2021 must propose to undertake a complying entrepreneur activity in Australia and must be nominated by a State or Territory government agency to develop your concepts. Your complying entrepreneur activity must relate to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia. You must:

  • Pitch your innovative business start-up ideas and plans demonstrating how you intend to commercialise and develop your business in Australia. Your business plan must be endorsed by your nominating state or territory Australian government agency to enable you to develop your entrepreneurial concepts, business innovation and investment opportunities.
  • Meet State or Territory government agency criteria and demonstrate you have start up and settlement funds required for transfer to Australia
  • Have a genuine and realistic commitment to:
    • Operate your entrepreneur activity (as approved by the state agency)
    • The applicant (entrepreneur) must demonstrate overall a successful record of undertaking, whether alone or by participating in a business, activities of an entrepreneurial nature and commit to maintaining business and investment activity for minimum 3 years before being eligible to apply for pathways to permanent residency.
    • The business must meet required success factors for the applicant to meet the relevant business migration requirements for the permanent entrepreneur visa
    • Keep accurate accounts of financial statements and show required Activity statements to TAX office for each year of business operation
    • Obtain and maintain business ownership interest of 51% or min 30% if more than one investor partakes of the Co-Investment in a business in Australia
  • Meet English requirement of competent level equivalent to IELTS 6 In each band
  • Receive a State government or Territory endorsement and nomination approval

BEFORE 1 JULY 2021
Subclass 188 Entrepreneur Visa applicants invited to apply before 1 July 2021 must have one or more legal funding agreement from a third party to receive funding of at least AUD$200,000  to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Funding must be received from one of the following:

  • Commonwealth Government Agency
  • State or Territory Government Agency
  • Publically funded research or innovation organisation
  • Higher Education provider under Part 2-1 of the Higher education Support Act 2003
  • Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership
 
Fees
SC188 E VISA APPLICATION PROCESSING FEES
State Government Nomination Fees (TBC)$500.00 – $800.00
Immigration Application Fees Main Applicant [Entrepreneur]$4,045.00
Immigration Application Fees Partner or Spouse $2,025.00
Immigration Application Fees Child over 18 years under 23 years $2,025.00
Immigration Application Fees Child under 18 years under 23 years$1,010.00
ADDITIONAL ESTIMATED COSTS
Business Advisory Fees to secure VC funding and all legal set upTBC
Mygration Professional Service Fees [excl.gst]See more
Medical Exams for Migration (per person)TBC –up to $400.00
Police Clearance Certificates must be obtained from all countries resided in for longer than 12 months in the last 10 years (over 16yrs)TBC –up to $50.00 p/p
Key Identity Document Translations & CertificationTBC –up to $50.00 p/doc

WHAT WE DO FOR YOU

  • You complete our contact form to discuss further through an initial in person meet or through zoom video meeting and discuss your specific needs
  • We send you an initial entrepreneur expression of interest form to complete for scheduled meeting to which we will discuss your business ideas & concepts including skill set to align to Australia and State or Territory needs with key focus on economic covid recovery measures
  • We source suitable and reputable business & investment advisory firms that operate in the chosen State or Territory as well as venture capital fund managers operating in your specific area of expertise who will assess your business feasibility for venture capital funding (if required)
  • We will work with you to facilitate all aspects of the process including sourcing funding agreement from the VC if required, engaging innovation analysts to assist with your business pitch and feasibility tests and case flow management for all stages related to the complying entrepreneurial business activity
  • We lodge your expression of interest application, present your business case study and lodge your state nomination application to your state or territory of choice
  • We prepare and submit your visa applications to the Department of Home Affairs for final processing
  • We keep you informed every step of the way until you arrive safely in Australia with your subclass 188 Entrepreneur Visa

Processing times vary and change continuously. As an indication only, our current Subclass 188 Entrepreneur Visas preparation is between 12-14 weeks before state lodgement and 12-20 weeks to be finalized by Department of Home Affairs Processing Centre as long as all information is provided as decision ready application at the time of lodgement.

Permanent Residency Pathways
SC888 E – Permanent Entrepreneur Visa

POST VISA GRANT CRITERIA
This is a permanent visa. With this visa you can:

  • carry out business and investment activity in Australia
  • travel to, enter and remain in Australia for 4 years and 3 months (before 1/7/2021) or 5 years (after 1/7/2021)
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream if certain requirements are met

POST 1 JULY 2021 ELIGIBILITY CRITERIA FOR BUSINESS PERMANENT RESIDENCY IN AUSTRALIA

YOU MUST:

  • Have a current nomination in place from a State or Territory government agency
  • Have a successful record of entrepreneurial activities and provide evidence of endorsed state activities undertaken during period of 1-3 years while holding a subclass 188 entrepreneur (provisional) visa
  • The (the primary applicant’s) entrepreneurial activities are assessed through achievements of either 2 key success factors OR 1 key success factor PLUS 3 supporting success factors

Key success factors include the following:

  • employing 2 or more Australians, permanent residents, or other eligible persons
  • generating an annual turnover of at least AUD300K (period to be defined)
  • filing a provisional patent or acquiring a standard or innovation patent within Australia
  • receiving ongoing funding or investment in your entrepreneur activity
  • entering a partnership with a university OR selling an entrepreneurial venture for AUD2 million

Supporting success factors include the following:

  • adapting your entrepreneurial activities into other business areas
  • receiving a statement of success from a state or territory government nominator
  • receiving sponsorship from the corporate sector
  • starting at least 1 other business or contributing to at least 2 other businesses
  • receiving formal awards or recognition
  • raising or contributing to social capital

Entrepreneurial activities in Australia CANNOT BE:

  • residential real estate/labour hire/buying an existing enterprise or a franchise in Australia

Resident requirements

  • Applicants who have received an invitation to apply, lodged or granted a Subclass 188 Entrepreneur (provisional visa) before 1 July 2021 , must have resided in Australia for at least 2 years of the 4 years and held your SC188E visa for the continuous period of 4 years before applying for the permanent stage SC888 Entrepreneur visa
  • Applicants who have received an invitation to apply, lodged or granted a Subclass 188 Entrepreneur (provisional visa) after 1 July 2021, must have held their provisional visa for a minimum continuous period of 3 years AND resided in Australia for at least 2 years during their 5 year visa validity period before applying for the permanent stage SC888 Entrepreneur visa
Information

COMPLYING ENTREPRENEUR ACTIVITY FOR ENTREPRENEUR VISA

  • You must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia
  • You must have a genuine intention to continue this activity

A complying entrepreneur activity must relate to an innovative idea that will lead to:

  • the commercialisation of a product or service in Australia, or
  • the development of an enterprise or business in Australia

This activity must not relate to any of the following categories:

  • residential real estate
  • labour hire
  • purchase of an existing enterprise or a franchise in Australia

BEFORE 1 JULY 2021 – CRITERIA FOR RECEIVING FUNDING FROM AN APPROVED ENTITY

You must have one or more legally enforceable agreements to receive funding with a total of at least AUD200,000. The funding must be from one of the following entities:

  • Commonwealth Government agency
  • State or Territory government agency
  • Publicly funded research or innovation organisation
  • Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003
  • Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership

At least 10% – 40% of the funding must be payable to the entrepreneurial entity within 12 months of the activity starting in Australia which must be reflected in the agreement
The entity that will conduct the activity (the entrepreneurial entity) must be either an individual (yourself), a company or a partnership
You must have held at minimum 30% interest in your entrepreneurial entity when you entered into the agreement
All the funding provided or to be provided to the entrepreneurial entity under the funding agreement must be unencumbered and lawfully acquired
You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia

SC132 A - Permanent Business Talent Visa
Overview
Fees
Information
Overview

THIS VISA SUBCLASS HAS CEASED AND IS NO LONGER AVAILABLE. APPLICANTS CAN ONLY ACCESS BUSINESS VISAS THROUGH THE SUBCLASS 188 STREAMS POST 1 JULY 2021.

Fees

THIS VISA SUBCLASS HAS CEASED AND IS NO LONGER AVAILABLE. APPLICANTS CAN ONLY ACCESS BUSINESS VISAS THROUGH THE SUBCLASS 188 STREAMS POST 1 JULY 2021. 

Information

THIS VISA SUBCLASS HAS CEASED AND IS NO LONGER AVAILABLE. APPLICANTS CAN ONLY ACCESS BUSINESS VISAS THROUGH THE SUBCLASS 188 STREAMS POST 1 JULY 2021

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