Business Innovation and Investment (Provisional) Visa
Subclass 188
This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia. Before you applying this visa, you must be nominated by an Australian State or Territory government agency. The State or Territory government agency that nominates you must not withdraw their nomination after you apply. Since this is a provisional visa, you must apply for a new visa if you want to stay longer. Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) Visa if certain requirements are met.
You can stay up to 4 years and 3 months with this visa, and can bring eligible members of your family with you including your dependent children.
Cost: $6,085
Eligibility:
Under 55 years of age
Score 65 on points test
Own business with minimum 500,000 AUD turnover
Net business & personal asset of 800,000 AUD available to transfer to Australia
Business Innovation and Investment (Permanent) Visa
Subclass 888
This visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream, or holders of a subclass 444 (Special Category) visa, or certain holders of a subclass 457 (Business (Long Stay) visa, stay permanently. With this visa, you can continue your business activities started under your Business Innovation and Investment (Provisional) Visa, stay in Australia permanently, and work or study in Australia. Also, you can get Medicare as Australian citizens, sponsor your relatives to come to Australia.
You can bring eligible members of your family with you including your dependent children.
Cost: $2,935
Eligibility:
Main applicant or spouse to stay in Australia for a total of 1 out of the 2 years
Have ownership and active management of an Australia business for 2 years
Annual turnover of minimum 300,000AUD
Satisfy 2 out of the 3 following requirements:
Net value of business asset of at least 200,000 AUD
Net value of business & personal asset of at least 600,000 AUD
Employed minimum 2 full-time employees who must be Australian permanent resident or citizen