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  Business Innovation and Investment (Permanent) Visa

The permanent Business Innovation and Investment visa allows business people and investors who own and manage a business or hold investments in Australia to continue these activities on a permanent basis. The applicant must be nominated by a State or Territory of Australia.

There are five streams under which business people can apply for the provisional visa: 

Business Innovation Stream

For applicants who have been successfully owning and managing a business in Australia for at least 2 years.

 

Applicant

At the time that you lodge your visa application, you must:

  • be nominated by an Australian state or territory government
  • have been in Australia as the holder of the one of the following visas for at least one year during the last two years:
    • subclass 188 Business Innovation & Investment visa in the Business Innovation stream or the Business Innovation Extension stream (as either the primary or secondary visa holder) OR
    • subclass 444 Special Category visa.

Australian Business

At the time that you lodge your visa application:

  • you (and your spouse/de facto partner, if applicable) must have a satisfactory record of complying with Australian laws, with no involvement in unacceptable business activities

  • for at least the last two years, you must have had (and continue to have) a direct and continuous management role in your main business (or two main businesses) in Australia.

  • of the main business (or main two businesses), you (and your spouse/de facto partner, if applicable) must have own at least:
    • 51% where the turnover was less than AUD 400,000 per annum
    • 30% where the turnover was AUD 400,000 or more per annum
    • 10% where the business was a publicly listed company
  • during the last year, your main business (or two main businesses combined) must have had an annual turnover of at least AUD 300,000.

 

Net Assets & Employment of Australian Staff

At the time that you lodge your visa application:

Throughout the 12 months immediately before you lodge your application, you (and/or your spouse or de facto partner, if applicable) must have met at least TWO of the following requirements:

  • had total net assets of at least AUD 200,000 in your main business(es) in Australia
  • had total net business and personal assets of at least AUD 600,000 in Australia
  • employed in your main business(es) the equivalent of at least two full-time employees, who are Australian citizens, permanent residents or New Zealand passport holders. These employees must NOT be your family members.

 

Investor Stream


For applicants who hold a provisional Business Innovation & Investment visa (Investor stream), and have maintained their designated investment in Australia for four years.


Applicant

At the time that you lodge your visa application, you must:
  • have been in Australia as either the primary or secondary holder of a subclass 188 Business Innovation & Investment visa in the Investor stream for at least two years during the last four years
  •  be nominated by an Australian State or Territory government.


Australian Investments

At the time that you lodge your visa application, you (and your spouse/de facto partner, if applicable) must: 
  • have held a government-approved designated investment with an Australian state or territory for at least four years
  • have a satisfactory record of complying with Australian laws, with no involvement in unacceptable investment activities.




Significant Investor Stream

For applicants who have held a provisional Business Innovation & Investment visa (in the Significant Investor stream/Significant Investor Extension stream for at least four years, and have met the minimum residence requirements.


Applicant

At the time that you are invited to apply for this visa, you must have:

  • a nomination from a state or territory government agency
  • held a provisional Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Significant Investor stream or in the Significant Investor Extension stream for a continuous period of 4 years
  • been in Australia for at least 160 days in the last four tears or your partner has been in Australia for at least 720 days in the last four years.

Australian Investments


At the time that you lodge your application, you (and your spouse/de facto partner, if applicable), must: 
  • have continuously held complying investments (in any proportion across the investment options) for the life of your provisional Business Innovation & Investment (Significant Investor Stream) visa(s)
  • for any part of the investment that is, or was, a direct investment in an Australian proprietary company:
    • if the period of the direct investment was less than 2 years, the company was a qualifying business for the whole period
    • if the period of the direct investment was 2 years or more, the company was a qualifying business for at least 2 years
  • have a satisfactory record of complying with Australian laws, with no involvement in unacceptable investment activities.

Note


A qualifying business is operated for the purpose of making profit by providing goods and/or services to the public. It is not operated for the purpose of speculative or passive investment.




 

Premium Investor Stream

For applicants who have held a provisional Business Innovation & Investment visa in the Premium Investor stream for at least one year, and is nominated by Austrade on behalf of the Australian government.


Applicant

At the time that you lodge your visa application, you must:
  • be still nominated by Austrade on behalf of the Australian government
  • have held a Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Premium Investor stream for a continuous period of at least 12 months
  • have held complying premium investments continuously for the year you have held a provisional visa (subclass 188) in the Premium Investor stream, except any part of the investment that is a philanthropic contribution (or you and your partner combined, if applicable).


Australian Investments

At the time you lodge your visa application:
  • for any part of the complying premium investment (except any part of the investment that is a philanthropic contribution) that is, or was, a direct investment in an Australian proprietary company, the company was a qualifying business for the whole period or you have made a genuine attempt to operate the business as a qualifying business
  • you must give evidence that your investment(s) meet the Complying Premium Investment requirements.


 


Entrepreneur stream

For applicants who have been in Australia and held a provisional visa in the Entrepreneur stream for a continuous period of at least four years immediately before the permanent visa application.

Applicant

At the time that you lodge your visa application, you must:

  • hold and have continuously held a a Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Entrepreneur stream for period of at least 4 years

  • have been in Australia for at least 2 years of the 4 years immediately before application.


Entrepreneurial Activities

At the time that you lodge your visa application, you must:
  • give evidence that you have successfully undertaken activities of an entrepreneurial nature in Australia while holding a Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Entrepreneur stream.

Note


The evidence of success of the applicant's entrepreneurial activities regard to the following (without limitation): 
  • the number of Australian citizens and Australian permanent residents that are employed in Australia in relation to the activities
  • the level and nature of ongoing funding of, or investment in, the activities
  • the annual turnover of businesses in relation to the activities.