Business Innovation and Investment
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In general, established businesspeople who want to migrate to Australia look at the Business Innovation and Investment visa as an option. However, this business visa is for people with substantial personal and business wealth who wish to establish and/or manage a new or existing business in Australia.
Business visa application is by invitation only. In addition, a state or territory government or Australia must nominate you, after you lodge an expression of interest.
Generally, the Business Innovation and Investment (Provisional) visa comprises of:
- Business Innovation – businesspeople who desire to own and manage a new or existing business in Australia
- Business Investment – businesspeople who wish to make an investment in Australia
- Investor – businesspeople who wish to make a complying significant investment of at least $AUD 2.5 million in Australian investments and continuously maintain the investment for the life of this provisional visa
- Significant Investor – businesspeople who wish to make a complying significant investment of at least $AUD 5 million in Australian investments and have a genuine intention to maintain the investment for the life of this provisional visa
In addition, the second stage of the Business Innovation and Investment (Provisional) visa is the Business Innovation and Investment (Permanent) visa. You can apply for this permanent visa after meeting the requirements of the provisional visa.
Basic Eligibility (Innovation)
Firstly, for the Business innovation stream, the businessperson must:
- be under 55 years of age
- score at least 65 in the points test
An Australian state or territory government must nominate the businessperson.
In addition, the businessperson must have:
- an overall successful business career with no involvement in unacceptable business activities and a genuine desire to own and manage a business in Australia
- total assets of at least $AUD 1.25 million (when combined with partner) that will be available for legal transfer to Australia within 2 years of the visa being granted
- an ownership interest in a business or businesses that has a total turnover of at least $AUD 700,000 in at least 2 of the last 4 years before being invited to apply
- met the ownership requirement in a business, namely:
- 51% – if the business turnover is less than $AUD 400,000
- 30% – if the business turnover is $AUD 400,000 or more
- 10% – if the business is a public listed company
- managed a business, in which less than half of the time is spent providing professional, technical or trade services
Basic Eligibility (Investor)
Secondly, for the Investor stream, the investor must:
- be under 55 years of age
- score at least 65 in the points test
An Australian state or territory government must nominate the investor.
In addition, the investor must have:
- at least 3 years’ experience managing one or more qualifying businesses or eligible investments
- a successful record of eligible investment or qualifying business activity
- demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity
- total assets of at least $AUD 2.5 million (when combined with partner) that will be available for legal transfer to Australia within 2 years of the visa being granted
- in at least 1 of the last 5 years:
- managed a qualifying business that 10% is owned
- managed at least $AUD 2.5 million in eligible investments
- a genuine commitment to living for at least 2 years in a state or territory that the designated investment was made
- a complying significant investment of at least $AUD 2.5 million:
- at least $AUD 500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least $AUD 750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
- a ‘balancing investment’ of at least $AUD1.25 million in managed funds
Basic Eligibility (Significant Investor)
Thirdly, for the Significant Investor stream, the investor must:
- make a complying significant investment of at least $AUD 5 million:
- at least AUD 1 million in venture capital and growth private equity funds which invest in start-ups and small private companies
- at least AUD 1.5 million in approved managed funds
- a balancing investment of at least AUD 2.5 million in managed funds
An Australian state or territory government or Austrade must nominate the investor.
In summary, the Business Innovation and Investment visa is complicated and involves a lot of work to meet the prescribed criteria. Hence, when dealing with large sums of money, it is paramount you use professional legal advisers such as Migration Agents Melbourne.
Business Innovation and Investment
| Business I & I (188) – Innovation Base application charge Additional application charge (18 and over) Additional application charge (under 18) | $9,450 $4,725 $2,365 |
| Business I & I (188) – Investor Base application charge Additional application charge (18 and over) Additional application charge (under 18) | $9,450 $4,725 $2,365 |
| Business I & I (188) – Significant Investor Base application charge Additional application charge (18 and over) Additional application charge (under 18) | $13,860 $6,930 $3,470 |
| Business I & I (888) – Permanent Base application charge Additional application charge (18 and over) Additional application charge (under 18) | $3,310 $1660 $825 |
