Business Innovation and Investment Programme
The Business Innovation and Investment Programme is designed to increase the number of business expertise in Australia. It is designed to target migrants with proven history of success in innovation and business and are able to make a significant contribution to the national innovation system and to the Australian economy.
The Business Innovation and Investment Programme is made up of three subclasses:
- Business Talent (Permanent) visa (subclass 132)
- Business Innovation and Investment (Provisional) visa (subclass 188)
- Business Innovation and Investment (Permanent) visa (subclass 888).
Business Talented (Permanent) Visa (subclass 132)
This visa allows you to establish your new business or develop an existing business in Australia.
You can apply for this business under two different categories:
- You have a significant business history and ownership whether full or part ownership.
- You have secured access to venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
You also need to be nominated by state or territory government,
You have assets of $1.5 million and business turnover of $3 million (1 above)
You have access to $1 million from a Venture Capital firm in Australia (2 above)
Business Innovation and Investment (Provisional) visa (subclass 188)
This is a temporary 4 years visa which allows you to:
- Own and manage his own business in Australia
- Conduct business and investment in Australia
- Conduct entrepreneurial activities in Australia
You need to be nominated by state or territory government,
You also need to have a proven experience in owning and operating business or
have $1.5 million to invest in Australia or
have $5 million to invest in Australia.
This is a temporary 4 years visa with potential to permanent residency.
Business Innovation and Investment (Permanent) visa (subclass 888).
This is a permanent is which allows you to continue to own and manage your business in Australia or
Continue your business and investment in Australia or
Continue your entrepreneurial activities in Australia.
To be eligible to apply for this visa you need to:
- be nominated by relevant state or territory government;
- hold relevant subclass 188 or 444 visa;
- have owned and operated your business in Australia for at least 2 years or
- have invested in Australia $1.5 million for 4 years or
- have invested in Australia $5 million for 4 years