Business Talent Visa (Permanent) (Subclass 132)

This visa is the only permanent resident visa in the business and investment migration category that you could apply directly. The visa is for high-calibre business people from overseas. The visa has two streams: venture capital entrepreneur stream and significant business history stream.

Venture Capital entrepreneur

  • Must have sourced $1 million in venture capital funding
  • To fund the start-up or product commercialisation of a high-value business idea in Australia

Significant business history

  • Have overall successful business career
  • Be under 55 years of age (or meet age waive requirement)
  • Have business turnover of $3 million in 2 of the past 4 financial years in your nominated business
  • $400,000 must be net business assets in your nominated businesses (not more than 2 businesses)
  • Have net business and personal assets of more than $1.5 million (different state or territory government has different requirements for the minimum total assets to be transferred to Australia)

Business innovation stream (Subclass 188A)

This stream is a temporary visa, applicable for people with business skills who want to establish, develop and manage a new or existing business in Australia. You must:

  • Have overall successful business career
  • Be under 55 years of age (or meet age waive requirement)
  • Have genuine intention and realistic expectation to be involved as an owner of a new or existing business in Australia
  • Score at least 65 points on point test, based on the calculation of age, assets, business turnover, business experience, language etc
  • For 2 out of 4 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 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 combined net business and personal assets of more than $800,000
  • Be sponsored by a state or territory government

Investor stream (Subclass 188B)

This stream is for people who want to make a designated investment of at least AUD1.5 million in an Australian state or territory and maintain business and investment activity in Australia. You must:

  • Be under 55 years of age
  • Score at least 65 points based on the calculation of age, assets, business turnover, business experience, language
  • Have an overall successful record of eligible investment or qualifying business activity
  • Have at least three years' experience of direct involvement in eligible investment
  • Have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment of $1.5 million into a state or territory government bond for four years
  • Have legally acquired at least $2.25 million of net business, investment, and personal assets
  • Be sponsored by a state or territory government

Significant Investor stream (Subclass 188C)

This stream is for people who are willing to invest at least AUD5 million into complying significant investments in Australia and want to maintain business and investment activity in Australia. You must meet the following criterion for the Significant Investor visa to be granted:

  • Have net assets of at least AUD5 million that are legally acquired, unencumbered, and available to be used to make the complying significant investment in Australia
  • Make investment of at least AUD5 million in a Complying Significant Investment and hold the investment continuously for at least 4 years
  • Spend 160 days out of 4 years in Australia to get permanent visa
  • Have a genuine and realistic commitment to continue your business and investment activity in Australia

Attractive features of this stream:

  • No points test
  • No upper age limit
  • No English requirement
  • Spend just 160 out of four years in Australia to get the Permanent visa
  • Four years extension possible if the above-mentioned requirement (160 days) is not met.

A "Complying Significant Investment" for the purposes of the Significant Investor Visa includes:

  • Venture capital funds;
  • ASIC regulated managed funds making investments in Australian assets; or
  • Direct investment into a private Australian company or your own company.

Holding any one of the above-mentioned 188 visas is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (Subclass 888).

Business Innovation and Investment Visa (Subclass 888)

After doing business in Australia for 2 years while holding an 188 visa, you are eligible to apply for a permanent resident visa (888), if you meet the following requirements. The visa has two streams: Business innovation stream and Investor stream

Business innovation stream

If you are applying for the Business Innovation stream, you must have been in Australia as an 188-visa holder for at least one year in the two years immediately before you apply, and must meet requirements for owning and operating a business in Australia while on a provisional visa subclass 188A.

  • Have an annual turnover for at least AUD300,000 from the main business (or businesses) in the 12 months before you apply
  • Own at least one of the following percentages of the main business (or main businesses) in Australia for the past two years immediately before you apply:
    • 51 per cents of a business with turnover of less than AUD400,000 per year
    • 30 per cents of a business with turnover of AUD400,000 or more per year
    • 10 per cents of a publicly listed company
  • Be involved in daily business management and operation, staying most of the time in past 2 years
  • Have a genuine and realistic commitment to continue business in Australia
  • Meet two out of three of the following throughout the year before visa application
    • Business assets of $200,000
    • Net personal and business assets of $600,000
    • Two full-time employees

Investor Stream

If you are applying for this visa in the Investor stream, you must have been in Australia and held visa 188B for at least two of the four years immediately before you apply. In addition, you (or you and your partner combined) must have held a designated investment with an Australian state or territory for at least four years. 

Significant Investor Stream

If you are applying for a permanent visa (subclass 888) in the Significant Investor stream, you must:

  • Have held a provisional visa (188C) in the Significant Investor stream or in the Significant Investor Extension stream
  • Have been in Australia as the holder of a provisional visa (subclass 188)
    • In the Significant Investor stream - 160 days in the past four years
    • In the Significant Extension stream (one extension) - 240 days in the past six years
    • In the Significant Extension stream (two extensions) - 320 days in the past eight years
  • Have held the complying significant investments continuously for at least 4 years while holding your Business Innovation and Investment (Provisional) visa (subclass 188) 

Business visas under the old business and investor migration system: (Subclass 890-893)

Prior to July 2012, the business and investor migration visas were separate and people used to apply for 160-165 visa. They will need to conduct business, make the investment and stay in Australia for a certain time before they can apply for a permanent resident visa. Below summarizes the permanent resident visa subclasses they may apply for.  

Business Owner Visa (Subclass 890)

Business Owner Visa (subclass 890) is a permanent residence visa. You will be able to travel in and out of Australia for five years. This visa is for people who own and manage a business in Australia.

To apply for this visa you must show that:

  • you and your partner have never been involved in unacceptable business activities
  • you have a direct and continuous management of up to two businesses operating in Australia for the past two years
  • you own at least one of the following:
  1. 51 percent of a business with an annual turnover of less than AUD400 000
  2. 30 percent of a business with an annual turnover of AUD400 000 or more
  3. 10 percent of a business that is a publicly listed company
  4. 10 percent of your main business in Australia if purchased before 19 April 2010.

You must also show that during the past year:

  • your main business (or two main businesses together) had a turnover of at least AUD300 000
  • the net value of your (or your partners, or you and your partners combined) assets in the main business (or two main businesses) in Australia was at least AUD100 000 
  • the net value of your (or your partners, or you and your partners combined) personal and business assets in Australia were at least AUD250 000.
  • you or your partner’s businesses employed at least the equivalent of two full-time employees who are:
  1. Australian citizens, or
  2. Australian permanent residents, or
  3. New Zealand passport holders, and
  4. not members of your family.

State/Territory Sponsored Business Owner Visa (Subclass 892)

State/Territory Sponsored Business Owner visa (subclass 892) is for people who own a new or existing business and are sponsored by a state or territory authority.

You can apply if you already hold a qualifying provisional business visa.

You must show you can meet the following requirements for:

  • business operations
  • business ownership
  • assets and employees
  • business turnover.

Business operations

You must show:

  • you have had a direct and continuous management of up to two businesses operating in Australia for the past two years
  • you have lodged Business Activity Statements (BAS) to the Australian Taxation Office for the past two years for all the businesses included in your application.

Business ownership

You must own at least one of the following:

  • 51 per cent of the business where the annual turnover is less than AUD400 000
  • 30 per cent of the business where the annual turnover is more than AUD400 000
  • 10 percent of a publicly listed company
  • 10 percent of your main business in Australia if purchased before 19 April 2010.

Assets and employees

You meet at least two of the following three requirements, unless a state or territory authority has accepted there are exceptional circumstances:

  • Net business assets – the net value of your (or you and your partners combined) assets in the main business (or two main businesses) in Australia is at least AUD75 000 throughout the 12 months immediately before you apply
  • Net personal and business assets – the net value of your (or you and your partners combined) personal and business assets in Australia have been at least AUD250 000 throughout the 12 months immediately before you apply
  • Provided employment- throughout the 12 months immediately before you apply your (or you and your partner’s) businesses employed at least the equivalent of one full–time employee who is:
  1. an Australian citizen, permanent resident or New Zealand passport holder; and
  2. not a member of your family.

Business turnover

You must show that your main business or two main businesses together had a turnover of at least AUD200 000 in the past 12 months. This may not apply if you meet all of the following conditions:

  • you met at least two of the three requirements for Net business assets, Net personal and business assets and Provided employment
  • the appropriate state or territory authority has determined there are exceptional circumstances
  • both your business and residence are located in a designated regional or low-growth area.

State/Territory Sponsored Investor Visa (Subclass 893）

State/Territory Sponsored Investor visa (subclass 893) is for people who are sponsored by a state or territory authority and have held a designated investment in Australia for four years.

You can apply for this visa if:

  • you are the primary holder of a State/Territory Sponsored Investor (Provisional) visa (subclass 165)
  • you are sponsored by a state or territory authority
  • you lived in the sponsoring state or territory for at least two of the four years immediately before you apply
  • you have a genuine and realistic commitment to continue to maintain business or investment activities in Australia
  • you and your partner have never been involved in unacceptable business activities
  • you and all your family members meet health and character requirements
  • you met all the conditions of your provisional visa.
  • Members of your family unit might be eligible for this visa if you are the primary holder of a State/Territory Sponsored Investor (Provisional) visa (subclass 165).

Business requirements

You, or your spouse or de facto partner together must:

  • have held continuously for at least 4 years, in your name or your partner’s name, your designated investment of at least AUD750 000 made for the purpose of being granted a State/Territory Sponsored Investor (Provisional) visa (subclass 165).
  • have a genuine and realistic commitment to continue a business or investment activity in Australia.

To check if you are qualified for the above visa, please fill in a Preliminary assessment form or email your CV and qualification details to Vision Education and Migration Services- info@visionems.com.au