What are Australian Business Visas?
The Australian business visa program is an encouraging pathway for foreign business owners that want to establish and operate their businesses in Australia.
The Australian government offers several temporary visas for business owners to operate in the country.Some temporary visas allow holders to apply for permanent visas after fulfilling certain conditions.
Business Innovation and Investment (Provisional) Visa (subclass 188)
This is a short-term business visa that allows a business owner to own and operate a new or existing business, conduct business and investment activity or undertake an entrepreneurial activity in Australia. To be eligible to apply, an applicant must submit an expression of interest (EOI) in SkillSelect, be nominated by an Australian state or territory, and be invited to apply. The applicant must also invest a significant amount of money and prove that they hold a threshold amount of personal and business assets.
The subclass 188 visa is only open to applicants that are less than 55 years old, except in exceptional conditions. This visa has many available streams through which applicants can apply. They include:
- Business innovation stream – Allows people with significant business skills to operate a new or existing business in Australia. The applicant must score at least 65 on the points test, provide proof of their business success, and have a total net business and personal assets of at least AUD1.25 million. This visa is valid for five years and the processing time for most applications is typically around 37 months. Applicants must be nominated by an Australian State or Territory government agency.
- Investor stream – This visa requires an applicant to invest a minimum of AUD2.5 million in specific Australian investments, including AUD1.5 million in an Australian state or territory. The applicant must also maintain business or investment activity in Australia and have net business, investment, and personal assets of at least AUD2.5 million. Applicants must be nominated by a State or Territory government agency and at least 65 on the points test. Most applications are processed within 40 months
- Significant investor stream – Open to business people who invest a minimum of AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia. They must also have a genuine intention to hold that investment as long as their provisional visa is valid. Applicants must be nominated by a State or Territory government agency or Austrade and invited to apply for the visa. Visa applications in this stream typically take 22 months
- Premium investor stream – Unlike other streams within the subclass 188 visa, the validity of the premium investor stream is only 4 years and 3 months. This stream is open to those nominated by Austrade and are invited to apply. Applicants must make at least AUD1.5 million in Australian investments and/or philanthropic contributions. Applicants must also have a genuine intention to hold the investment throughout the validity of the visa.
- Entrepreneur stream – This stream is open to startup and early-stage entrepreneurs who have been endorsed to develop their concepts and have been nominated by a State or Territory government agency. The visa allows eligible people to carry out entrepreneurial activities in Australia. applicants must show a business plan of the activity they plan to undertake before being granted this visa. Application processing time is usually around 9 months.
Business Innovation and Investment (Permanent) Visa – subclass 888.
This visa enables those who hold a temporary business innovation and investment visa to stay permanently in Australia. The permanent business visa 888 has the same streams as the temporary business visa 188. Applicants can only apply under the stream they were on on the 188 visas.
Business Owner Visa (subclass 890)
The subclass 890 visa is open to people who currently manage a business in Australia. This visa will allow the applicant to stay indefinitely in Australia provided they already have a qualifying visa. Such qualifying visas include the provisional business visas subclass 160, 161, 162, 163, 164, and 165.
The applicant must have lived in Australia on any of the qualifying visas for at least 12 months in the 2 years immediately before applying for this visa. They must still hold the qualifying visa while making this permanent visa application. In addition, the applicant must have owned and operated a business in Australia for at least 2 years immediately before the application is made. The business owner visa will allow its owner to continue conducting business in Australia. They will also be able to apply for Australian citizenship once they meet the eligibility criteria.
Business Talent (Permanent) Visa (subclass 132)
The business talent visa allows talented business persons to establish a new business or develop an existing business in Australia. To be eligible for this visa, a candidate must be nominated by an Australian state or territory government agency and be invited to apply. They must also prove that they have the required funding or assets to apply. The subclass 132 visa has two streams;
- Significant Business History stream – This stream is open to experienced business owners who want to operate a new or existing business in Australia. Such business owners must have a net value of at least AUD1.5 million, and an annual business turnover of at least AUD3 million for at least 2 of the 4 fiscal years immediately before being invited to apply. They must also have total net assets of at least AUD400,000 as the ownership interest in one or more qualifying businesses for at least 2 of the 4 fiscal years immediately before being invited to apply.
- Venture capital entrepreneur stream – This stream is open to people who have sourced venture capital funding of at least AUD1 million from a member of the Australian Investment Council (AIC).
Investor Visa (subclass 891)
This investor visa allows investor (provisional) visa holders to stay in Australia indefinitely to continue a business and investment activity. To be eligible, the applicant must provide evidence that they have held a designated investment of at least AUD1.5 million for four years. They must also have lived in Australia for 2 of the last 4 years. Subclass 891 visa holders may apply for Australian citizenship if they fulfill certain eligibility criteria.
Supporting Documents for Business Visa Applications
When applying for an Australian business visa, there are certain documents that you must present to support your application. These documents generally include your;
- National identity card.
- Driver’s license.
- Two recent identity photographs.
- Character documents.
- Financial statements.
- Proof of personal and business assets.
- Six photographs of your business establishment.
- A one-page organizational chart of your business.
- Proof of English Language Skills.
- Outline your business activities.
- Proof that you own your business.
- Evidence that you purchased your business.
- Business Activity Statements
- Australian Business Number.
- Evidence of having full-time employees.
- Proof of your managerial position within the business.
- Documentation of the points test.
This list is not exhaustive. The exact documents you will need depend on the specific visa you are applying for – Some visas may require special forms.
Australian Business Visas Application Process
For most business visas, you first have to submit an expression of interest. Based on your documents and reputation, an Australian state or territory government agency may nominate you for the visa, after which Australian home affairs will send you an invitation to apply. This invitation will contain all you need to know about applying for a visa.
If you are applying for a permanent visa, you must apply from Australia and must be in Australia when you receive a decision. The application method varies by the type of visa. For most visas, you must apply online through ImmiAccount. You will scan your documents in color and submit them electronically. However, for certain visa types such as the business innovation and investment visa, applicants will be able to send a physical application to the Adelaide Business Skills Processing Centre. Applicants must pay the application fee at the time of submitting their application.
How Can Total Law Help?
Business visa applications have many streams and requirements. Thus, these visas can be pretty confusing. Total law’s excellent immigration lawyers are dedicated to easing the stress of the entire process for you.
Our attorneys will help you determine your eligibility for a business visa, and assist you in gathering the supporting documents for your application. We will guide you through the entire process to ensure that you achieve your dream to operate a business in Australia.
So reach out to us today at +1 844 290 6312 or use the online contact form to get in touch with an attorney
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Yes. You can bring immediate family members with you to Australia when applying for a business visa. you must fulfill certain conditions and submit extra documentation to enter Australia with your family.
A common reason for Australian visa rejections is not meeting all the eligibility requirements. Typically, you will be allowed to apply for a different visa in such a case. Do well to contact Total Law, and let out immigration lawyers help you determine the reason for the rejection and work with you toward fixing it and getting approval.