Residence by Investment

BUSINESS INNOVATION AND INVESTMENT (PROVISIONAL) – 188

 

Business innovation stream

 

For people who would like to develop and manage a new or existing business in Australia.

Requirements

  • score at least 65 on the points test.
  • All applicants (including dependants) must have functional English. If unable to prove functional English, applicants must pay second visa application charge to the Department of Home Affairs.
  • for two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD$500,000 turnover in each of those years.
  • own at least one of the following percentage of your nominated main business: (a) 51 per cent, if the business has a turnover of less than AUD400,000 per year; or (b) 30 per cent, if the business has a turnover of AUD$400,000 or more per year; or (c) 10 per cent, if the business is a publicly listed company.
  • have an overall successful business career.
  • have a genuine desire to continuously own and maintain a management role in a business in Australia.
  • If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.
  • At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD$800,000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.
  • You and your partner must have had no involvement in unacceptable business or investment activities.

What you can do once you are granted this visa:

  • Stay in Australia for 4 years and 3 months.

Applying for Permanent Residency

  • Once applicant meets residency requirement applicant can apply for PR.
  • Further to the residency requirement, the applicant must prove: he/she owns and manages a business in Australia, demonstrate that the business made sales turnover of $300,000 AUD for 12 months before PR application made (this requirement can be waived in certain circumstances) and meet the assets/employee requirements.

Investor stream

 

For people who want to make a designated investment of at least $1.5 Million AUD in an Australian state or territory and maintain business and investment activity in Australia.

Requirements

  • score at least 65 on the points test.
  • Must obtain State Nomination and be invited by a State Government.
  • All applicants (including dependants) must have functional English. If unable to prove functional English, applicants must pay second visa application charge to the Department of Home Affairs (it should not be difficult for you to obtain functional English through IELTS).
  • must prove to have high level of management skills in relation to the eligible investment or qualifying business activity.
  • have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments.
  • have an overall successful record of eligible investment or qualifying business activity.
  • have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.
  • have a genuine intention to live in the state or territory in which you have made a designated investment for atleast two years.

You, your partner, or you and your partner combined must:

  • for at least one of the five fiscal years immediately before you are invited to apply, have directly managed one of the following: (a) a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest, or (b) eligible investments owned by you, your partner or you and your partner combined of at least $1.5million AUD.
  • during the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least $2.25 million AUD that are available for legal transfer to Australia within two years of the visa being granted.
  • make a designated investment of at least $1.5 million AUD in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue in your nominating state or territory.
  • have had no involvement in unacceptable activities.
  • Income that you earn from your designated investment in Australia is subject to tax under Australian taxation law

What can you do with this visa if granted

  • May stay in Australia for 4 years and 3 months.
  • the visa can be extended for a further 2 years on expiration with multiple entries (so you are able to come and go from Australia as required).

Applying for Permanent Residency

  • Demonstrate that you have maintained investment in Australia for 4 years.
  • Lived in Australia for 2 years before applying for Permanent Residency (residence requirement).

Significant investor stream

 

Requirements

  • reside in the nominated state or territory.
  • continue your business and investment activity in Australia after the conclusion of your provisional visa.
  • All applicants (including dependants) must have functional English. If unable to prove functional English, applicants must pay second visa application charge to the Department of Home Affairs.
  • live in Australia for at least 40 days per year (calculated cumulatively) for the duration of your provisional visa, or your spouse to live for at least 180 days per year (calculated cumulatively) for the duration of your provisional visa.
  • You, your partner, or you and your partner combined must have net assets of at least $5 million AUD that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.
  • You and your partner must not have been involved in unacceptable business or investment activities.
  • You and members of your family unit aged at least 18 must agree not to bring any action against the Commonwealth for any loss relating to your complying investment.
  • Income that you earn from your complying investment in Australia is subject to tax under Australian taxation law.
  • You must also make a complying investment or a complying significant investment of at least $5 million AUD over four years.
  • Duration of visa is 4 years and 3 months.

Applying for Permanent Residency

  • You must have held complying investment for 4 years.
  • Residency requirement for PR is only 40 days per year (which can be cumulative).

Entrepreneur stream

 

Requirements

  • be under 55 years of age, although a state or territory can waive this requirement if your proposed complying entrepreneur activity will be of exceptional economic benefit to the nominating state or territory.
  • have competent English and be able to provide evidence of this at the time you are invited to apply for the visa.
  • be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity.
  • A Complying Entrepreneur Activity is an activity that relates to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia. This activity must not relate to any of the following excluded categories:

a) Residential real estate.
b) labour hire.
c) Purchase of an existing enterprise or a franchise in Australia.

      An activity is a complying entrepreneur activity if all of the following requirements are met:

a) you have one or more legally enforceable agreements to receive funding with a total of at least AUD$200,000 from one of the following entities:

i) Commonwealth Government agency;
ii) State or Territory Government;
iii) Publicly Funded Research Organisation;
iv) Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership; or
v) Specified Higher Education Provider.

          b) under the agreement, at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken.

c) You held at least 30 per cent interest in your entrepreneurial entity when you entered into the agreement.

d) You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.

BUSINESS TALENT (PERMANENT) VISA – Subclass 132

 

1. Significant Business History stream

 

This visa allows experienced business owners to operate 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 their family accompany them to Australia and live in Australia as a permanent resident.

Requirements

  • You must 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.
  • You must have a complete successful business career.
  • You must possess a genuine desire to continuously own and uphold a management position in a business in Australia.
  • You, your partner, or you and your partner combined must meet 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 interest 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.
  • You and your partner must have had no involvement in unacceptable business or investment activities.
  • You must be nominated by an Australian state or territory government that has approved your expression of interest (EOI).
  • You and any family who apply for the visa with you must meet the health and character requirement.
  • You must have functional English. If requirement for functional English cannot be met by you or any dependent applicant 18 years or older, you can pay the second installment of the visa application charge.
  • You must not have had a visa cancelled or a previous application refused.

Duration of stay once you are granted the visa

  • Stay in Australia indefinitely.

Business Obligations after being granted this visa

You must:

  • establish a qualifying business in Australia, or participate in an existing qualifying business in Australia.
  • 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.

 

2. Venture Capital Entrepreneur stream

 

This visa is for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL). The visa lets you operate a new or existing business in Australia.

Requirements

  • You must have received at least AUD$1 million in funding for a high-value business idea and a formal agreement with an Australian venture capital firm for the funding.
  • You and any family who apply for the visa with you must meet the health and character requirement.
  • You must have functional English. If requirement for functional English cannot be met by you or any dependent applicant 18 years or older, you can pay the second installment of the visa application charge.
  • You must not have had a visa cancelled or a previous application refused.

Duration of stay once you are granted the visa

  • Stay in Australia indefinitely.

HOW TO PROVE FUNCTIONAL ENGLISH

 

Requirements

  • To prove you have functional English, you need to provide evidence that:
    a) you are a citizen of and hold a valid passport issued by the United Kingdom, the United States of America, Canada, New Zealand or the Republic of Ireland, or
    b) your English has been assessed as functional by an Australian Adult Migrant English Program service provider, or
    c) you completed a degree, a higher degree, a diploma or a trade certificate in an institution in or outside Australia that required at least two years of full-time study and all instructions were in English, or
    d) you undertook your education at:

 

Institution
a primary school and secondary school where all instruction was in English in or outside Australia
a secondary school in or outside Australia where all instruction was in English
an institution in Australia where all instruction was in English
an institution in Australia where all instruction was in English
Study time
All years of primary and at least 3 years of secondary study
At least 5 years of study
At least 1 year of full-time study towards an award
The part-time equivalent of 1 year of full-time study towards an award

 

or

e) in the 12 months before you applied for the visa, you scored one of the following:

 

Score
An average band score of at least 4.5 for each or the 4 test components
A total band score of at least 32 based on the 4 test components of speaking, reading, writing and listening
An overall band score of at least 30 for each of the 4 test components
An overall band score of at least 147 for each of the four test components