Professional Australian and New Zealand immigration advice
 
     
Ranika Melal Parseh
 
Your Dream, Our Business

Professional Australian Immigration Advice

             
RanikaMelalParseh Immigration Advice Agency
Providing immigration advice regarding preparing theapplications for permanent and temporary Australian and New Zealand visas for revered applicants by registered Australian migration agent with respect to the latest applied immigration laws and regulations
 
Business Innovation and Investment

The following visa subclasses are applicable under certain conditions explained below:

 

Business Innovation and Investment (Provisional) visa (subclass 188)

This visa is for people who want to own and manage a new or existing business in Australia, or to invest in an Australian state or territory. You must submit an expression of interest through SkillSelect and be nominated by a state or territory government before being invited to apply for this visa.

Requirements
You must:

•    be nominated by a state or territory government and invited to apply
•    have a successful business or investment history
•    have adequate personal and business assets.

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 AUD1.5 million 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 AUD5 million into complying investments in Australia and want to maintain business and investment activity in Australia.
Holding this visa is the first stage before becoming eligible to qualify for a Business Innovation and Investment (Permanent) visa (subclass 888).

With this visa you can
•    establish a new or develop 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
•    seek permanent residence by applying for a Business Innovation and Investment (Permanent) visa (subclass 888).

For 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 two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500 000 turnover in each of those years
•    own at least one of the following percentage of your nominated main business:
o    51 per cent, if the business has a turnover of less than AUD400 000 per year
o    30 per cent, if the business has a turnover of AUD400 000 or more per year
o    10 per cent, if the business is a publicly listed company
•    have an overall successful business career
•    have a genuine desire to continuously own and maintain a management role in a business in Australia.
At the time of invitation, you, your partner, or you and your partner combined must have total net assets of at least AUD800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.

For Investor stream
You must:

•    be under 55 years of age, although a state or territory can waive this requirement if your proposed investment will be of exceptional economic benefit to the nominating state or territory
•    score at least 65 on the points test
•    have a high level of management skill in relation to the eligible investment or qualifying business activity
•    have at least three years' experience of direct involvement in managing one or more qualifying businesses or eligible investments
•    have an overall successful record of eligible investment or qualifying business activity
•    have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured
•    have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment.
You, your partner, or you and your partner combined must:
•    for at least one of the five fiscal years immediately before you are invited to apply, have directly managed one of the following:
o    an interest owned by you, your partner or you and your partner combined of at least 10 per cent in a qualifying business
o    at least AUD1.5million in eligible investment owned by you, your partner or you and your partner combined
•    during the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million that are available for legal transfer to Australia within two years of the visa being granted
•    make a designated investment of at least AUD1.5 million in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue in your nominating state or territory
•    have had no involvement in unacceptable activities.

Significant Investor stream
You must make a complying investment of at least AUD5 million in any of the following three options, in any proportion, and hold that investment continuously for at least four years:
•    Commonwealth, state or territory government bonds
•    Eligible managed funds - that are limited to investing in any or all of the following Australian assets: :
o    infrastructure projects in Australia
o    cash held by Australian deposit-taking institutions
o    bonds issued by the Australian Government or a State or Territory government
o    bonds, equity, hybrids or other corporate debt in Australian companies and trusts listed on any Australian stock exchange
o    bonds or term deposits issued by Australian financial institutions
o    real estate in Australia
o    Australian agribusiness
o    other ASIC-regulated managed funds that invest in the above list of investments
•    direct investment into private Australian companies - in which you have an ownership interest.  The company must operate a qualifying business.

You must also have a genuine and realistic commitment to:
•    reside in the state or territory whose government agency nominated you
•    continue your business and investment activity in Australia after your complying investment matures
•    live in Australia for at least 160 days over four years while holding your provisional visa.
You, your partner, or you and your partner combined must have net assets of at least AUD5 million that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.
You and your partner must not have been involved in unacceptable business or investment activities.
You, your partner and other family members aged at least 18 must agree not to bring any action against the Commonwealth for any loss relating to your complying investment.

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 the Business 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 Extension stream.
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.

Please contact us for further information about this visa.