If you have experience managing businesses or eligible investments and are looking to invest your funds in Australia, the Business Investor stream (provisional) visa (subclass 188) might be the right visa for you. By demonstrating a genuine commitment to maintaining a business or investment activity in Australia, this visa allows you to stay in Australia for up to five years. To meet the requirements of this visa, you will need to meet:
- the general visa requirements from the Department of Home Affairs; and
- any additional requirements imposed by the particular state or territory government that nominates your visa application.
This article will take you through these eligibility requirements to determine if you qualify for the Business Investor stream (provisional) visa.
What Criteria Do I Have to Meet to Apply?
Before applying, you need to make sure you satisfy the requirements that you:
- are under 55 years of age (age exemptions apply);
- have at least 65 points on the innovation points test;
- can meet health and character requirements;
- have been nominated by an Australian State or Territory government agency; and
- have received an invitation from the Department of Home Affairs to apply for the visa.
What Experience Do I Need to Have?
To qualify for the Business Investor stream (provisional) visa, you need to have a minimum of three years of experience of direct involvement in managing at least one qualifying business or eligible investment. More specifically, in one out of the last five financial years, you must have directly managed:
- eligible investments that you own (or your spouse or de facto partner owns, if applicable) totalling at least AUD $2.5 million; or
- a qualifying business, where you (or your spouse or de facto partner, if applicable) owned at least 10% of the business’s total value (if the business is a publicly listed company). NB: you may have to demonstrate a higher percentage of ownership if the business is a private company.
How Large Does My Investment Need to Be?
You must invest funds in the following proportions:
- at least $500,000 in venture capital and growth private equity funds, which invest in startups and small private companies;
- at least $750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange; and
- a ‘balancing investment’ of at least $1.25 million in managed funds.
The aforementioned significant investment needs to be made with an Australian Financial Services (AFS) Licensed Fund Manager, domiciled in Australia. Furthermore, you must maintain this investment for the duration of the visa.
How Can I Obtain State Nomination?
Under the business investor (provisional) visa, a state or territory government agency must nominate your application. You will need to request this nomination by applying to a State or Territory government agency. Each State and Territory sets their own requirements. Accordingly, applicants must meet these requirements in addition to the criteria imposed by the Department of Home Affairs (see above).
What Does the Business Investor Visa Offer?
You may swap roles with your partner or spouse as the primary visa applicant as long as the complying significant investments are held in both of your names.
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Key Takeaways
The Business Investor stream (provisional) visa might be the right pathway to migrate to Australia for your family if you prefer to make complying significant investments instead of running a business. Before applying for this visa, you will need to determine whether you meet the Department of Home Affairs eligibility requirements. Then, you must check if the State or Territory that you want to migrate to imposes additional requirements.
If you need help determining if the business investor stream is suitable for you, our experienced immigration lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 1300 544 755 or visit our membership page.
Frequently Asked Questions
The business investor (provisional) visa allows individuals to reside in Australia for up to five years. To qualify for the visa, applicants must have a minimum of three years managing a qualifying business or eligible investment.
The business investor (provisional) visa may be more suitable for individuals with sufficient funds who do not wish to operate and manage a business in Australia.
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