BUSINESS OWNER VISA

(Subclass 890)

Who is this visa for?

Do you want to own a business in Australia?
Do you want to manage a business already existing in Australia?
Do you want to invest in an Australian state or territory?
Then this visa is for you.

The visa includes three streams:

  • Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia.
  • Investor stream: for people who want to make a designated investment of at least $1,500,000 in an Australian state or territory and maintain business and investment activity in Australia.
  • Significant Investor stream: for people who are willing to invest at least $5,000,000 into complying investments in Australia and want to maintain business and investment activity in Australia.

The Validity Period of this Visa

You will get a 4 year visa.  You can apply for permanent residence once you have met the requirements, in some instances in as little as 2 years.

You might be able to extend your stay under an extension stream if you need extra time to meet the criteria for a permanent visa.

Reasons to Apply for this Visa

This visa lets you

  • Apply for permanent residence in Australia once you meet the visa requirements;
  • establish a new or purchase an existing business and/or invest in Australia;
  • make a designated investment with an Australian state or territory government or make and maintain complying investments in Australia
  • travel in and out of Australia for the life of your visa
  • bring family members with you to Australia

The General Requirements

You might be able to get this visa if:

  • you are nominated by a state or territory government
  • you are invited to apply
  • you (and all your family members) meet certain health and character requirements
  • you meet the additional requirements for the stream in which you apply.
  • You do not have outstanding debts to the Australian Government or have arranged to repay any outstanding debts to the Australian Government before this visa can be granted.

Business Innovation stream

You must:

  • be under 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 nominating state or territory.
  • score at least 65 on the points test
  • for 2 out of the 4 financial years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least $500,000 turnover in each of those years
  • own at least one of the following percentage of your nominated main business:
    • 51% of a business that has a turnover of less than $400 000 per year
    • 30% of a business that has a turnover of $400 000+ per year
    • 10% of a business that is listed on a public Stock Exchange;
  • 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.
  • You have total net assets of at least $800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.  These assets can be in your name, your spouse’s name, or both names together.
  • You must have had no involvement in unacceptable business or investment activities.

Family in your Application

You can include the following people in your visa application:

  • your partner (married or de facto)
  • your or your partner’s dependent children
  • other dependent relatives.

These members of your family unit must meet the requirements for including family members in your application. The application must include documentary evidence of their relationship to you.

Points Test

You must score at least 65 points (the pass mark) in the points test to be eligible to apply for a Business Innovation and Investment (Provisional) visa (subclass 188) in theBusiness Innovation stream or the Investor stream.

The points test does not apply to you if you are applying in the Significant Investor stream or the Business Innovation Extension stream or the Significant Investor Extensionstream.

The test gives points for various elements of human capital and business innovation and includes objective measures of business performance.

Points are awarded for:

  • age
  • English language ability
  • qualifications
  • experience in business or investment
  • net personal and business assets
  • business turnover
  • innovation.

Points are awarded on the basis of the factors listed in the following table. All factors are assessed as at the time you are invited to apply for this visa, unless otherwise noted.

Factor Description Points
Age 18–24 years 20
25–32 years 30
33–39 years 25
40–44 years 20
45–54 years 15
55 and older 0
English language ability Vocational English: IELTS 5 on each of the four components of speaking, reading, listening and writing 5
Proficient English: IELTS 7 or OET score B on each of the four components of speaking, reading, listening and writing 10
Qualifications Australian trade certificate, diploma or bachelor degree by an Australian education institute; ora bachelor qualification recognised by an education institution of a recognised standard 5
Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognised standard 10
Special endorsement The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located 10
Financial assets Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
AUD800 000 5
AUD1.3 million 15
AUD1.8 million 25
AUD2.25 million 35
Business turnover Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
AUD500 000 5
AUD1 million 15
AUD1.5 million 25
AUD2 million 35
Business Innovation stream only Business experience You have held one or more businesses before you were invited to apply for the visa for:
Not less than four years within the preceding five years 10
Not less than seven years within the preceding eight years 15
Investor stream only Investor experience Eligible investment of at least AUD100 000 held for:
At least four years before the time of invitation to apply for the visa 10
At least seven years before the time of invitation to apply for the visa 15
Business innovation qualificationsAt the time of invitation to apply for the visa: Evidence of registered patents or registered designs 15
Evidence of registered trademarks 10
Evidence of formal joint venture agreements 5
Evidence of export trade 15
Evidence of ownership interest in a gazelle business 10
Evidence of receipt of grants or venture capital funding 10
State or territory nomination Special endorsement (limited places) 10

Health Requirements

We will tell you of all the details whether you will have to undergo medical examinations or not.This applies to all dependent family members included in your application, whether they are migrating or not.

Character Requirements

You will have to provide a police certificate declaring your good character. This applies to all members older than 18 included in the application.

 

For more information about eligibility, please contact us.