Business Innovation & Investment Visa Australia | Mygration
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Temporary Business Visas

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Business Innovation and Investment Visas

If you are looking for an opportunity to establish or relocate your business to Australia, a business visa is required. There are also range of foreign investment visa types available for eligible individuals. Mygration can assist you with the application for these specific permits. We are highly qualified migration agents located in Queensland. We can assist clients across Brisbane to determine their eligibility for various investment related permits. Thanks to the experience and dedication of our team we can assist you in compiling the necessary documents needed for an application for a foreign investment visa.

The application process for foreign investors interested in Australian investment has been simplified by the Australian Government in order to entice more foreign investors to the country.

The Australian economy is reliant on foreign investment and trade with the Foreign Investment Review Board (FIRB) assessing all proposals for direct foreign investment. The following industries are the main industries of interest when it comes to foreign investment:

  • Agribusiness and food
  • Commercial and real estate development
  • Tourism
  • Education
  • Major Infrastructure
  • Resources and Energy
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Business Innovation (Temporary) Visa Subclass 188A

Business Innovation stream (subclass 188A)

  • This visa is points tested and based on the business owner wanting to start or operate an existing a business in Australia 
  • Main criteria – Business must demonstrate at least 4-7 years of running successful company/s holding ownership of at least 30% of that company AND the turnover of the company/s must be min $500 000 AUD for at least 2/4 fiscal years before EOI

These figures must be evidenced and demonstrated through their lodged tax returns in their home country to claim the points 

  • English exemption available – (optional otherwise English test must be taken) 
  • Degree is preferred to assign points
  • Net personal and business asset value must meet the min of $800 000 AUD value 
  • Must meet 65 points on points test
  • Notarisation and certified Naati translations of documents must be provided 

This visa will lead you to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).

You must:

  • be under 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the nominating state or territory.
  • score at least 65 on the points test. Please see the Points test tab on this webpage for further information.
  • for two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500 000 turnover in each of those years
  • own at least one of the following percentage of your nominated main business:
    • 51 per cent, if the business has a turnover of less than AUD400 000 per year
    • 30 per cent, if the business has a turnover of AUD400 000 or more per year
    • 10 per cent, if the business is a publicly listed company
  • have an overall successful business career
  • have a genuine desire to continuously own and maintain a management role in a business in Australia.

If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.

At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.

You and your partner must have had no involvement in unacceptable business or investment activities.

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Business Entrepreneur (Temporary) Visa Subclass 188E

SC 188 E For applicants aged 20 – 55 who have a funding agreement from a third party (Venture Capital Fund Firm in Australia) 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 

This visa allows you to do the following: 

  • carry out business and investment activity in Australia
  • travel to, enter and remain in Australia for the validity of your visa grant i.e. 4 years and 3months 
  • 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

The requirements that are specific to the SC188E stream are the applicant must: 

  • Have innovative business start-up ideas and plans to commercialise and develop in Australia
  • Intend to and enjoy undertaking Entrepreneur activities and demonstrate you have at least $350,000 for Business & Settlement funds for transfer to Australia 
  • You must have a genuine and realistic commitment to: oMaintain business operations and Venture Capital Entrepreneur Activity
    • The applicant must demonstrate overall a successful record of undertaking, whether alone or by participating in a business, activities of an entrepreneurial nature and Maintain the VC agreement and investment for the full 4-year period 
    • The business must meet the required success factors for the Applicant to meet the requirements for Permanent Entrepreneur visa
    • Keep accurate accounts of Financial statements and show required Activity statementsto TAX office for each year of business operation
    • Obtain and maintain substantial ownership interest of 51% or min 30% if more than one investor partakes of the Co-Investment in a business in Australia 
  • English Equivalent to IELTS 6 In Each Band Required for Non-Exempt English applicant
  • No Skills Assessment Required and No Employment offer required

This visa will lead you to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).

You must:

  • be under 55 years of age, although a state or territory can waive this requirement if your proposed complying entrepreneur activity will be of exceptional economic benefit to the nominating state or territory
  • have competent English and be able to provide evidence of this at the time you are invited to apply for the visa
  • be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity

A Complying Entrepreneur Activity is an activity that relates 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 excluded categories:

 

  • Residential real estate
  • Labour hire
  • Purchase of an existing enterprise or a franchise in Australia.

 

    An activity is a complying entrepreneur activity if all of the following requirements are met:

 

  • you have one or more legally enforceable agreements to receive funding with a total of at least AUD200 000 from one of the following entitites:
    • Commonwealth Government agency
    • State or Territory Government
    • Publicly Funded Research Organisation
    • Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
    • Specified Higher Education Provider
  • under the agreement at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia;
  • You held at least 30 per cent interest in your entrepreneurial entity when you entered into the agreement.
  • You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.

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