Significant Investor Visas

Business Innovation and Investment Visas – Provisional (188)

Business Men are lucky as there are quite a number of visas that are made available to them by the government of Australia. Of course, only legit business men can take advantage of these Australian visa and the requirements are quite stringent so qualifying for them can be tough although it can be done especially if the business is established and legit.Business

The Business Innovation and Investment – provisional / subclass 188 is a state nominated provisional visa which is valid for four years. It is a pathway to permanent residency, through the Business Innovation and Investment (Permanent) (subclass 888) visa.

Validity

Short stay visit visas are valid up to three months and it cannot be extended. Your stay in Australia is limited until the date given by the department of immigration. The other visas are pathway to permanent residency but requirements need to be met before PR visas are granted.

How it works

Another type of business visa are the Business Innovation and Investment visas which are provisional in nature. This Australian visa is given to business men who want to put up new businesses in Australia. They can also be given to folks who want to manage a business in the country or want to invest in an Australian business. These visas can be a pathway to permanent residence in Australia.

The Business Innovation stream is for people who want to own and manage a new or existing business in Australia.

The Investor stream is for people who want to make a designated investment of at least AUD 1.5 million in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.

The Significant Investor stream is for people who are willing to invest at least AUD 5 million into complying investments in Australia and want to maintain business and investment activity in Australia after the original investment has matured.

General Requirements

  • You can apply to the visas if you have been invited to submit an application
  • Have a successful business or work and investment history.
  • Can show proof of adequate business and personal assets when asked.
  • You were nominated by a state or territory government.
  • Timeframe for Nomination
  • Once Business and Skilled Migration Queensland has received your application and supporting documents:
  • Business Innovation stream – 2 weeks
  • Business Investor stream – 1 week
  • Significant Investor stream – 1 week

Individual Requirements

Business and Innovation Stream 

  • 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 relevant region
  • score at least 65 on the Innovation Points test
  • have a total annual turnover of at least AUD500 000 (in one or more of your main businesses) in at least two of the four fiscal years immediately before you are invited to apply
  • own at least one of the following percentages of that main business (or two main businesses):
  • 51 per cent of a business with a turnover of less than AUD400 000 per annum
  • 30 per cent of a business with a turnover of more than AUD400 000 per annum
  • 10 per cent of a publicly-listed company
  • have managed a business, in which you spent less than half your time on professional (such as a doctor or lawyer), technical or trade services
  • have a genuine desire to own and maintain a management role in a business in Australia.
  • You (or your partner, or you and your partner combined) must also:
  • have total assets of at least AUD800 000 that have been legally acquired and able to be legally transferred to Australia within two years of the visa being granted
  • have an overall successful business career with no involvement in unacceptable business activities.

Investor Stream 
If you apply for the Investor stream, you must:

  • be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business or investment activity will be of exceptional economic benefit to the relevant region.
  • score at least 65 on the Innovation Points test
  • have a high level of management skill in relation to eligible investments or qualifying business activity
  • have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
  • have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.
  • You (or your partner, or you and your partner combined) must also:
  • have a total assets of at least AUD2.25 million for the two fiscal years immediately before you are invited to apply. These assets must have been legally acquired and able to be legally transferred to Australia within two years of the visa being granted
  • have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities
  • be prepared to make your government-approved designated investment of AUD1.5 million using funds you have accumulated from your direct involvement, for at least one of the five fiscal years before you are invited to apply, in one of the following activities:
  • managing your eligible investments that total at least AUD1.5 million
  • managing a qualifying business in which you owned at least 10 per cent of the total value of the business.

Significant Investor Stream 

If you apply for the Significant Investor stream, you must be prepared to invest at least AUD5 million in at least one of the following ‘complying investments’:

  • Commonwealth, state or territory government bonds
  • Certain managed funds that have a mandate for investing in one of the following Australian assets:
  • infrastructure projects in Australia;
  • cash held by Australian deposit taking institutions;
  • bonds issued by the Commonwealth Government or a State or Territory government;
  • bonds, equity, hybrids or other corporate debt in Australian companies and trusts listed on any Australian Stock Exchange;
  • bonds or term deposits issued by Australian financial institutions;
  • real estate in Australia;
  • Australian Agribusiness; and other ASIC regulated managed funds that invest in the above list of investments.
  • Direct investment into private Australian companies not listed on any Australian stock exchange. You must obtain an ownership interest in the company. The company must:
  • genuinely operate a qualifying business in Australia
  • be registered with ASIC
  • have an Australian Business Number (ABN).

Business Innovation and Investment Visas – Permanent (888)

The Business Innovation and Investment is the second stage of the Business Innovation and Investment visa (subclass 188). You can apply for it after you have fulfilled the requirements of your provisional visa.Business

Business migrants who hold subclass 188 visas can apply for the Business Innovation and Investment (Permanent) (subclass 888) in order to gain permanent residency.

Queensland state nomination is required prior to lodging your application with the Australian Department of Immigration and Border Protection.

The eligibility criteria for this visa is based on the subclass 188 visa stream that you originally applied for – the Business innovation stream, Investor stream or Significant investor stream.

The Business Innovation and Investment (Permanent) (subclass 888) visa has three streams:

  • 888 Business innovation stream (Permanent): this is the pathway to permanent residency for holders of the 188 visa subclass
  • 888 Business investor stream (Permanent): this is the pathway to permanent residency for holders of the 188 visa subclass
  • 888 Significant investor stream (Permanent): this is the pathway to permanent residency for holders of the 188 visa subclass.
  • Holders of a 444 subclass visa (New Zealand citizens), are able to apply for this visa without first being granted a 188 Business innovation stream (Provisional) visa.

 Validity

This visa lets you live and work permanently in Australia. You may travel in and out of Australia for five years. You also may have family members accompany you to Australia and you can enroll Medicare Australia’sscheme for health-related care and expenses.

How it works

This visa allows you to continue to own and manage a business in Australia (the Business Innovation stream) or continue business and investment activity in Australia (the Investor stream and the Significant Investor stream).

Visa applicants do not need to satisfy the innovation points test and there are no upper age limits. The visa stream features a residence requirement of 160 days spent in Australia over four years while holding the Business Innovation and Investment (Provisional) (Subclass 188) visa.

Visa holders can extend their visa term if they would like to given that they satisfy the extension requirements. They will be allowed to extend their provisional visa by an additional two years, with a maximum of two extensions permitted.

Requirements

You can apply for a this visa if you:

  • fulfill the individual requirements of the subclass 188 visa according to your selected stream.
  • are the primary holder of a provisional Business Innovation and Investment visa (subclass 188)
  • have met all the requirements of your provisional Business Innovation and Investment visa in the stream in which you first applied
  • have not been involved in any unacceptable business or investment activities
  • have a satisfactory record of complying with Australia laws
  • have been nominated by an Australian state or territory
  • you and all your family members meet health and character requirements – you do not need to prove this again if you have already met this requirement for the provisional Business Innovation and Investment visa (subclass 188)
  • have a genuine commitment to continue to maintain business or investment activities in Australia

Individual Requirements

888 Business Innovation Stream (Permanent) 

  • This is a pathway to permanent residency for holders of the 188 visa subclass.
  • In addition to the DIBP criteria, applicants seeking Queensland state nomination must meet the following criteria:
  • provide evidence that a minimum of AUD$500,000 was invested in a main business (or two main businesses) located in Brisbane or the Gold Coast.OR
  • provide evidence that a minimum of AUD$300,000 was invested in a main business (or two main businesses) located in other regions of Queensland.AND one of the following:
  • confirmation that the business or two main businesses were approved by Business and Skilled Migration QueenslandOR
  • a copy of the written approval from Business and Skilled Migration Queensland to change your business (if your current business is different to that initially approved as part of your subclass 188 application). This approval must be granted before proceeding to change your business.

 888 Business Innovation Stream (Permanent) (New Zealanders) 

  • This is a pathway to permanent residency for holders of the 444 visa subclass from New Zealand.
  • In addition to the DIBP criteria, applicants seeking Queensland state nomination must meet the following criteria:
  • provide evidence that a minimum of AUD$500,000 was invested in a main business (or two main businesses) located in Brisbane or the Gold Coast.OR
  • provide evidence that a minimum of AUD$300,000 was invested in a main business (or two main businesses) located in other regions of Queensland
  • If you hold a 444 visa subclass, you do not need to have held a 188 visa before applying for permanent residency.

 888 Business Investor Stream (Permanent) 

  • This is a pathway to permanent residency for holders of the 188 visa subclass.
  • Applicants must provide evidence they meet the criteria outlined by the Department of Immigration and Border Protection.

888 Significant Investor Stream (Permanent) 

  • This is a pathway to permanent residency for holders of the 188 visa subclass.
  • In addition to providing evidence they meet the DIBP criteria, applicants seeking Queensland state nomination must meet the following criteria:
  • provide evidence the investment has been held for at least four years and has continued to provide economic benefit to the Queensland economy during this period.
  • provide confirmation that the investment was maintained as approved at subclass 188 stage or provide a copy of the written approval by Business and Skilled Migration Queensland to change your complying investment from your 188 application