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Business Visas

Business Talent (Permanent) visa – subclass 132

This permanent residence visa allows high profile business people looking to establish a new or develop an existing business and is available via two streams:

  • Significant Business History stream for high-calibre business owners who wish to conduct business in Australia
  • Venture Capital Entrepreneur stream for people who have sourced venture capital funding of at least AUD 1 million from a member of the Australian Venture Capital Association Limited (AVCAL)

Subclass 888 Details

This visa is the second stage of the Business Innovation and Investment visa.

You can apply for this 888 permanent visa after holding the 188 provisional visa either for 2 years in the Business Innovation Stream or 4 years in the Investor Stream and you have met all prescribed criteria.

Basic Requirements:

  • be the primary holder of a provisional 188 Business Innovation and Investment visa
  • be nominated by an Australian state or territory.
  • Business Innovation Stream requires you to have established a business in Australia which meets certain asset and turnover requirements
  • Investor Stream requires you to have held an investment in Australian bonds for 4 years

Business Innovation stream

If you are in the Business Innovation stream, you must have been in Australia and held your 188 provisional visa for at least 1 year in the 2 years immediately before you apply.

In addition, you (or your partner, or you and your partner combined) must:

  • have had and continue to have a direct and continuous management role in a main business (or two main businesses) in Australia for at least two years immediately before you apply
  • have had a turnover, in that main business (or two main businesses), of at least AUD300 000 in the year immediately before you apply
  • own at least one of the following percentages of that main business (or two main businesses):
    • 51 per cent of a business with a turnover of less than AUD400 000 per annum
    • 30 per cent of a business with a turnover of more than AUD400 000 per annum
    • 10 per cent of a publicly-listed company
  • have obtained Australian Business Numbers for each of the relevant businesses
  • have submitted all relevant Business Activity Statements to the Australian Taxation Office
  • have not acquired the ownership in your main business (or two main businesses) from a person who was a 188/888 visa applicant themselves, unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.
  • Meet the required net value of assets and history of employment by meeting 2 of the following criteria:
    • the net value of your assets in the main business (or two main businesses) in Australia is at least AUD200 000 throughout the year immediately before you apply
    • the net value of your personal and business assets in Australia has been at least AUD600 000 throughout the year immediately before you apply
    • your business employed, throughout the year immediately before you apply, at least the equivalent of 2 full-time employees who are Australian citizens, Australian permanent residents, or New Zealand passport holders and not your family members.

Investor stream

If you are applying for this visa in the Investor stream, you must have been in Australia and held your provisional visa for at least two of the four years immediately before you apply.

In addition, you (or your partner, or you and your partner combined) must have:

  • held a designated investment with an Australian state or territory for at least four years
  • a satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business
  • not been involved in unacceptable business or investment activities
  • a strong commitment to continue your business and investment activity in Australia.

Benefits of the 888 Business Innovation and Investment Visa (Permanent)

888 visa is a permanent visa which allow you and your immediate family members (such as a partner and dependent children) included on the application to live, work and study in Australia.

Subclass 188c Details

The significant investor visa allows overseas applicants who invest at least $5m in ‘complying investments’ in Australia for 4 years to obtain permanent residence. There is no Age or English Requirements. 

There is no requirement to meet the Business Innovation and Investment points test.

Stage 1 – 188 Significant Investment Visa (Provisional)

This is a 4 year visa that is granted once the complying investment has been made. The visa allows multiple entries into Australia.

Applying for this visa is quite complex and involves several steps and assessment by “complying investments”, State Nomination departments and receiving an “invitation to apply” from the Department of Immigration prior to the Visa being lodged.

Once the visa is lodged it will be substantially processed, before you are requested to make the complying investment. Once the investment has been made, the visa will be granted.

The overall processing time is approximately 6 months.

Stage 2 – 888 Significant Investment Visa (Permanent)

This Permanent Visa can be applied for once you have held a subclass 188 visa for 4 years.

You must also demonstrate that you have held your complying investment for 4 years, while holding the 188 provisional visa.

You must have resided in Australia for at least 160 days during the 4 years of holding the 188 provisional visa. There is no requirement to be in Australia for 40 days every year. These periods in Australia can be either a single stay or multiple trips totaling 160 days.

Once you have held the 188 visa for 4 years, you can apply for the 888 visa at any time in the future. Your application does not have to occur on the final day of the 188.

Complying Funds

Each Australian State or Territory has different minimum requirements for the investment of funds in their own State Bonds system. The balance of investments can be in “complying investments” of your own choosing.

There is no requirement for a “complying investment” to be profitable for the value of the investment to remain above the $5m threshold for the entire 4 year period of the visa. Once the $5m investment has been made this is sufficient to meet the requirements for the granting of the permanent visa.

Benefits of the 188 / 888 Significant Investor Visa (SIV)

  • No age restriction
  • No English requirement
  • Reduced residency requirement of 160 days over 4 years
  • No requirement to meet the Business Innovation and Investment points test

Subclass 132 Details

This is a permanent visa designed for high calibre business people who are owners or part owners of an overseas business and have a genuine and realistic commitment to participate in the management of a new or existing business in Australia.

Basic requirements:

  • You must be less than 55 years of age (unless state and territory government waive this requirement if your proposed business will be of exceptional economic benefit to the relevant region)
  • You must also be nominated by an Australian state or territory government
  • You must lodge an Expression of Interest (EOI) and wait received an invitation from Department of Immigration to apply for this visa

There is no requirement to meet the Business Innovation and Investment points test.

The 132 Business Talent Visa is permanent residence visa available to applicants in two streams: 

  • Significant Business History Stream for people with ownership interests in large businesses
  • Venture Capital Entrepreneur Stream for people who have access to venture capital funding of at least AUD 1 million

Significant Business History Stream 

For the Significant Business History Stream, you (or your partner, or you and your partner combined) must have all of the following:

  • net assets of at least AUD400 000 (in a qualifying business) in at least 2 of the 4 fiscal years immediately before you are invited to apply
  • total assets of at least AUD1.5 million that can be legally transferred to Australia within 2 years of the visa being granted
  • a total annual turnover of at least AUD3 million (in one or more of your main businesses) in at least 2 of the 4 fiscal years immediately before you are invited to apply
  • ownership of at least:
    • 51 per cent of a business with turnover of less than AUD400 000 per annum, or
    • 30 per cent of a business with turnover of more than AUD400 000 per annum, or
    • 10 per cent of a publicly-listed company
  • an overall successful business career with no involvement in unacceptable business activities
  • a genuine desire to own and maintain a management role in a business in Australia. 

Venture Capital Entrepreneur Stream

For the Venture Capital Entrepreneur Stream, you must have a venture capital funding agreement of at least AUD 1 million through an Australian company who is a member of the Australian Venture Capital Association Limited (AVCAL) for the start-up, product commercialisation or business development relating to a promising high value business idea.

Benefits of the 132 Business Talent Visa (Permanent)

132 visa is a permanent visa which allow you and your immediate family members (such as a partner and dependent children) included on the application to live, work and study in Australia.