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Australia
Business Innovation and Investment Subclass-188
State nominated provincial residence visa for Business owners and Investors
You have a choice of your stream:
1. Business Innovation: Owners who want to relocate their overseas business or establish a new business in South Australia.
2. Business Investment: Successful investors or business owners willing to invest a minimum AUD $1,500,000 in South Australia.
3. Significant Investor: People willing to benefit South Australia and invest $5 million into a complying investment for four years.
4. Entrepreneur: People who have a funding agreement from a third party for at least AUD $200,000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialization of a product or service in Australia or the development of a business in Australia.
Business Innovation: Subclass 188
The Business Innovation and Investment (Provincial) is a state nominated provisional visa which is valid for four years. It is a pathway residency, through the Business Innovation and Investment (Permanent) (Subclass 888) visa.
Requirements:
- A genuine and realistic commitment to be involved as an owner of a new or existing business in Australia.
- State or territory sponsored provisional visa with no minimum English requirement.
- Be less than 55 years of age.
- An overall successful business career.
- Net Business & Personal assets (Net-worth) of $800,000
- A Business turnover of $500,000
- *65 points required for qualifying
Innovation Points Test – Points Allocation under Subclass 188- *65 points required for qualifying
Business Sponsors
Factor | Description | Points |
Age | 18-24 | 20 |
25-32 | 30 | |
33-39 | 25 | |
40-44 | 20 | |
45-54 | 15 | |
English Language | Vocational or higher | 05
|
Proficient or higher | 10 | |
Qualifications | Australian trade certificate, Diploma or Bachelor | 05 |
Degree or a Bachelor degree recognized by the minister | 10 | |
Bachelor degree in Business, Science or Technology | 10 | |
Business Experience | Greater than four years’ experience | 10 |
Greater than seven years’ experience | 10 | |
Financial Metrics | Net Business and Personal assets |
|
AUD$ 800,000 | 05 | |
AUD$ 1.3 million | 10 | |
AUD$ 1.8 million | 25 | |
AUD$ 2.5 million | 35 | |
Business turnover |
| |
AUD$ 500,000 | 05 | |
AUD$ 1 million | 15 | |
AUD$ 1.5 million | 25 | |
AUD$ 2 million | 35 | |
Innovation | Registered patents or registered designs | 15 |
| Evidence of trademarks | 10 |
| Evidence of joint venture agreements | 05 |
| Evidence of export trade | 15 |
| *Gazelle Business | 10 |
| Evidence of receipt of grants or venture capital funding | 10 |
State or Territory Nomination | *Special endorsement (Limited Places) | 10 |
Gazelle businesses:
(newly established businesses experiencing rapid growth during a short period) (10 points)
- Your nominated main business must have been registered for no more than five years.
- The average annualized growth in turnover of the business must have been greater than 20 per cent each year for a continuous period of three fiscal years.
- The business must have had 10 or more full-time employees for at least one fiscal year in the three-year period.
Special endorsement ( limited places)
In a limited number of cases, a nominating state or territory government may determine that the business proposed by an applicant is of unique and important benefit to the state or territory. In these circumstances, an applicant can be awarded ten points.
Australia has six states:
- South Australia
- Tasmania
- New South Wales
- Western Australia
- Queensland
- Victoria
Every state has different conditions for qualifying criteria.
Process:
Step-1
Requirements Concerning submission of documents for initial interview with
Authorities:
• Copy of passport of PA
• Business Details
• Name of the Business, Share of Ownership, Sales, Profit and Net Assets of the Business for last 4 years
• Net-worth of the applicant
• Resume with complete details
• Details of Australia visit (if visited)
• Business Intentions
• Name of the State/Territory which applicant wants to settled
Note: Scanned copies are sufficient for the above information
Step-2
Visit of Australia for exploratory visit & Attending the interview with the respective state authorities
Step-3
After competition of successful interview (which will take place during the mandatory visit to NSW) the following Forms Documents will be required for State Nomination (NSW):
• Form A: General Information
• Form B: Statement of assets and liabilities
• Form C: Self-assessment
• Form D: Declaration by application or migration agent
• Business Commitment: Documents demonstrating Business commitment
• Application Fees: $820 fee required with all the above forms (Non-refundable)
Australian Business Talent EPB:
• Age-Less than 55 years
• Education-No Criteria
• Net-worth-1.5 million AUD
• Turnover-3 million AUD
• Capital net assets-400,000 AUD, in case applicant business is operated publically then shareholding minimum 10% of total issued capital of the company
• Eligible person-Only Businessmen