This visa is for people who have a successful business or investment career, and have a genuine and realistic commitment to be involved in investing or business in Australia.
The business innovation and investment visa is also the first step towards being granted a permanent Business Skills visa. You must pay a non-refundable visa charge when you lodge the Expression of Interest (EOI).
This visa includes five streams:
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
- Investor stream: for people who want to make a designated investment of at least AUD$1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
- Significant Investor stream: for people who are willing to invest at least AUD$5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
- Premium Investor stream: for people who are willing to invest at least AUD$15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
- Entrepreneur stream: for people who have a funding agreement from a third party for 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. Applicants must be nominated by a state or territory government.
Benefits of the Business Innovation and Investment Visa (Subclass188)
With this visa you can travel in and out of Australia any number of times as long as the visa is valid, have your family accompany you to Australia (they will have access to work and study rights) and establish a pathway to permanent residence.
If you are in the Business Innovation stream, you can renew your visa for an additional two years, a renewal application must be lodged online and your state or territory government must confirm, in writing, that they continue to support you. These visa allow future applications for permanent residency under the Subclass 888 Visa subject to satisfying the criteria of the temporary visa program.
This permanent visa, known as the Business Talent Visa, is designed for high calibre business people who are owners or part owners of an overseas company and have a genuine and realistic commitment to participate in the management of a new or existing business in Australia.
You must be sponsored by a state or territory government. The 132 visa is for high calibre business people from overseas who are less than 55 years old, and their families.
Who is eligible for a Business Talent Visa Permanent (Subclass 132)?
Significant Business History Stream
You, your partner, or you and your partner combined must have all of the following:
- Total net assets of at least AUD$400 000 as the ownership interest in one or more qualifying businesses for least two of the four fiscal years immediately before you are invited to apply and if the qualifying business(es) was a publicly listed company, a shareholding of at least 10 per cent of the total issued capital
- Net business and personal assets of at least AUD$1.5 million that are legally acquired and can be transferred to Australia within two years after the visa is granted
- A total annual turnover of at least AUD$3 million in one or more of your main businesses in at least two of the four fiscal years immediately before you are invited to apply
- Ownership of at least: (a) 51 per cent of a business with turnover of less than AUD$400,000 per year; or (b) 30 per cent of a business with turnover of more than AUD$400,000 per year, or (c) 10 per cent of a publicly listed company
- An overall successful business career
- No involvement in unacceptable business activities
- A genuine desire to own and maintain a management role in a business in Australia.
You must also be younger than 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 region where it will operate.
Venture Capital Entrepreneur Stream
You must have received at least AUD1 million in funding from an Australian venture capital firm.
The funding must be for the start-up, product commercialisation or business development of a promising high-value business idea.
The venture capital firm must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). AVCAL has information about the venture capital category of membership in its Venture Capital entrepreneur visa factsheet.
You must have entered into a formal agreement with the venture capital firm for the funding.
Benefits of the Business Talent Visa (Subclass 132)
With this visa you can work in a new or existing business in Australia, travel in and out of Australia any number of times as long as the visa is valid, study in Australia, have your family accompany you to Australia (they will have access to work and study rights) and live in Australia as a permanent resident for five years (after 5 years, you will need to apply for a resident return visa).
Business Obligations
Significant Business History stream
If you are in this stream, after entering Australia, you must:
- Establish a qualifying business in Australia, or
- Participate in an existing qualifying business in Australia.
In the business, you must:
- Maintain substantial ownership
- Maintain direct and continuous involvement in the day-to-day management of the business
- Make decisions that affect the overall direction and performance of the business in a way that benefits the Australian economy.
Venture Capital Entrepreneur stream
If you are in this stream, after entering Australia, you must meet the requirements of your venture capital agreement.
