Australia is the most loved place by immigrants globally for business investors and skilled workers. Australia offers many immigration ways for people seeking an Australian visa. In 2015, the Australian Government started the Premium Investor Scheme offering nine different visa categories for applicants who wanted to be in Australia. The Australian government is ready to ease out the visa streams under Business Visa Category. This is of utmost importance for the growth of the Australian economy and supports better business activities. These visa categories can be your pathway to getting Australian permanent residency. Explained here are the four visa programs that will prepare a pathway to your Australian permanent residency. Let’s take a look at them:
Business Innovation Visa Stream
The business innovation visa stream is a perfect choice for people who are in a business already. This visa pathway is available for applicant ages between 18-55 years. To get the visa approval, you have to score 65 points on the points test table. The waiver for age is available to incase the candidate can prove beneficial to the state or territorial economy. For eligibility you must have:
- A nomination from the state or territory government
- Must own one or more businesses for four financial years. Also, the annual turnover of the business needs to be at least AUD 500,000 in these years.
- The business or personal assets should be worth more than AUD 1.25 million for you and your partner which you will use to establish a business in Australia. The assets should belong to both of you legally and can be transferred to Australia in the last two years from the date of issue.
- Selected applicants will get their business innovation stream visa (subclass 188A) for five years.
When you have an established business in Australia, then your five years visa with Subclass 188 A will change to business innovation and investment visa (subclass 888A), a permanent residency visa. To get this visa, you have to prove the eligibility criteria meet your business, annual turnover, and financial assets. Investors can also extend to Subclass 188 A when they managed to show their intention and ability to have managed business activities in Australia.
Entrepreneur Visa Stream
To be eligible to apply for the visa you must have a minimum of AUD 200,000 from the entities for conducting the investment in Australia. Entry with the same is now revoked by the government. The amount required for the stream has become a difficulty for applicants. In July 2021, the revocation is been eased, but still; investors are required to have the endorsement by the state or territory government. Along with that, they need to also show their genuine commitment to the business startup in Australia. The business plan needs to be prepared in advance so if asked by any official then you will be ready with that. For investment, you need have to provide the services and products and enterprise development. Along with investment and business plan, you need to meet the health and character requirements to prove your eligibility.
Investor Visa Stream
Wanted business ownership and investment management are in Australia, then this is temporary visa is designed for those who wanted their business setup in Australia. To meet the eligibility criteria you need to be:
- Invest at least AUD 1.5 million in Australian state or territory. Also, make sure the business needs to be well-maintained and active
- Needs to be nominated by state or territory government
- Needs to have more than three years of work experience with a track of having the profit-making business and having entrepreneur skills.
- The net value of personal assets and business needs to be at least AUD 2.25 million. The assets must lawfully belong to you and have to be transferred to Australia within the last two years of the visa grant.
Significant Investor Visa
When you are going to apply for this visa type, then you need not meet age-related requirements. You need to show your investment of AUD 5 million in Australia. Also, you must be able to prove your genuine commitment to business maintenance activities in the country. The investors have a chance to extend their visa for two years before they are asking for a permanent residency visa, but for that, you have to prove and make a sufficient investment in the business. The visa can be extended for three years in the case due to reasons you are not able to meet the business or residency requirements. Before the changes are made in July 2021, the applicants have to apply for a different Significant Extension Stream for their extended stay of four years in Australia.
Conclusion – This is more like a dream to work here in Australia. Being a business owner or investor you will get your dream come true by making the prior investments. You can check the category and apply for the same or if required the professional help then the Education embassy is a leading migration agents in Brisbane, Australia. We helped many businesses to get their business setup and hence get the pathway to PR if you are seeking the same then can contact us today and one of a team of experts will contact you and resolve your queries if any. So, ask for professional help today.