Business Visas and Immigration to Australia

Australia’s Business Innovation and Investment program (BIIP) has six streams temporary visas [ie, A. Innovation visa stream, B. Investor visa stream, C. Significant Investor visa stream, D. Entrepreneur visa stream, E. Premium Investor visa stream]. Holders of these temporary visas may be eligible to apply and qualify for EC‑888 Investment (Permanent) visa which in turn may lead to Australian Citizenship and a passport.  In addition, there are extension stream for the temporary visa if you need more time;

• Business Innovation Extension – intended only for persons previously granted an EB‑188 Business Innovation stream visa and
• Significant Investor Extension – intended only for persons previously granted an EB‑188 Significant Investor stream visa or who have previously held no more than one EB‑188 Significant Investor Extension stream visa.

On this page:

• Objectives of the program
• Temporary Visa categories
• Residence Permanent Visa categories
• Application requirements
• Points test
• What you need to do;
• 188 A Innovation stream
  • Eligibility assessment questionnaire – 188 A Innovation stream
• 188 B Business Investor stream
  • Eligibility assessment questionnaire – 188 B Business Investor stream
• 188 C Significant Investor stream
  • Eligibility assessment questionnaire – 188 C Significant Investor stream
• 188 D Entrepreneur stream
  • Eligibility assessment questionnaire – 188 D Entrepreneur stream
• Definitions and explanations
  • Main business
  • Ownership interest in a main business
  • Documentation
  • Assessing ownership interest
  • Qualifying business Policy intention
  • Asset transferability
  • Turnover
  • What is turnover
  • Net business assets
  • Overall successful business career
• Business Proposal
• Victoria – Investor and Significant Investor streams open 22/09/2021
• NSW – Business Innovation and Investment (Provisional) visa (subclass 188) open 22/09/2021
• Updates

 

Objectives of the program

The Business Innovation and Investment programme caters for business persons who are:

• owners (or part‑owners) of a business (or businesses)
• senior executives employed by major businesses who will use their business skills to obtain a substantial ownership interest in a new or existing business in Australia and actively participate in that business at a senior management level or
• persons with a substantial business or investment background and are willing to invest in a designated investment in Australia.

Temporary Visa categories

The 188 Business Innovation and Investment (Provisional) visa (EB‑188) is the only subclass of the Business Skills (Provisional)(Class EB) visa.

EB‑188 has six streams:

• Business Innovation
• Investor
• Significant Investor
• Premium Investor
• Entrepreneur
• Business Innovation Extension– intended only for persons previously granted an EB‑188 Business Innovation stream visa and
• Significant Investor Extension– intended only for persons previously granted an EB‑188 Significant Investor stream visa or who have previously held no more than one EB‑188 Significant Investor Extension stream visa.

Residence Permanent Visa categories

Temporary visa holders may be eligible to apply and qualify for an EC‑888 Business Innovation and Investment (Permanent) visa.

Persons granted an EB‑188 visa in the Significant Investor stream, the Significant Investor Extension stream or the Premium Investor stream on the basis of satisfying secondary criteria (the secondary visa holder) cannot meet Schedule 1 requirements to make a valid EC‑888 application in their own right, unless they were the spouse/de‑facto partner of the primary visa holder and that primary visa holder has died, or the primary visa holder and secondary visa holder are no longer in a spouse/de‑facto partner relationship. This rule does not apply to Business Innovation, Business Innovation Extension and Investor streams. refer to: Sch2 Visa 888 Business Innovation and Investment (Permanent).

Application requirements

Schedule 1

For primary applicants, Schedule 1 sets out stream-specific valid application requirements:

• 1202B(4) relates to the Business Innovation stream.
• 1202B(5) relates to the Business Innovation Extension stream.
• 1202B(6) relates to the Investor stream.
• 1202B(6A) relates to the Significant Investor stream.
• 1202B(6B) relates to the Significant Investor Extension stream.
• 1202B(6C) relates to the Premium Investor Extension stream.

Schedule 2

Schedule 2 primary criteria comprise:

Common criteria (188.21) and criteria set out in streams (188.22,188.23, 188.24, 188.25, 188.26 and 188.27) primary applicants are assessed against common criteria and stream criteria and, if granted a visa, hold an EB‑188 visa in the relevant stream.

There are no stream criteria for secondary applicants (family unit members); if granted a visa, they do not hold an EB‑188 visa in any stream.

Points test

Under section 188.222, the applicant’s score on the Business Innovation and Investment points test in Schedule 7A (“the points test”) must not be less than the number of points specified by legislative instrument.

Points are given for only one prescribed qualification in Schedule 7A .

What you need to do;

• Please visit each stream below to identify your eligibility. Choose the stream of your choice and complete and submit the ‘Eligibility assessment questionnaire’. This assessment is very complex. State requirements and practical aspects of strengthening the application and other business law guidance is not stated on this page due to volume but once the questionnaire is submitted go to the appointment link [ https://dlegal.com.au/dlegal-appointment-booking/ ] on our page and book an appointment for further assessment and guidance.
• In addition to these streams, there are other prospective avenues under state schemes which we may discuss when we undertake the full assessment

188 A Innovation stream

With this visa, you can…

• operate a new or existing business in Australia
• bring eligible members of your family with you
• apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) in the Business Innovation stream

You must

• score at least 65 on the points test
• provide proof of your business success (annual turnover, ownership interest)
• You, your partner, or you and your partner together, have total net business and personal assets of at least:
  • AUD1,250,000 if you were invited to apply for this visa on or after 1 July 2021
  • AUD800,000 if you were invited to apply for this visa before 1 July 2021

– Eligibility assessment questionnaire – A 188 A Innovation stream

Be nominated You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa. Do you want us to obtain a nomination from an Australian State or Territory government agency? YES OR NO Business ownership Have had an ownership stake in 1 or 2 businesses that had at least [must have this for 2 out of 4 fiscal years immediately before you receive an invitation to apply] AUD750,000 turnover in each of those 2 years? Yes/No o   Do you own at least in 1 or 2 businesses with at least 51% of the total value of the business if the business has a turnover of less than AUD400,000 per year? – Yes or No o   Do you own at least in 1 or 2 businesses with at least 30% of the total value of the business if the business has a turnover of AUD400,000 or more per year – Yes or No o   Do you own at least in 1 or 2 businesses with at least 10% of the total value of the business if the business is operated by a publicly listed company – Yes or No Note:  If your business provides professional, technical or trade services, you must have spent less than half your time providing those services, rather than general management of the business. Ownership of personal and business assets Do you and your partner combined have total net business and personal assets of at least [at the time of application] AUD800,000 YES OR NO Note: Your funds must be available to transfer to Australia within 2 years of us granting the visa. Can you score at least 65 on the points test? Yes/ Not sure – please help me to calculate Have a successful business career Do you have a successful business career and a genuine desire to continuously own and manage a business in Australia? YES OR NO Are you under 55? Yes/ No If not under 55, is your business be of exceptional economic benefit? Yes/No Does you or partner have a history of involvement in unacceptable activities Yes/No Functional English Do all applicants aged 18 or over have at least functional English? YES OR NO If do not have functional English, you need to pay the second instalment charge? Yes/No Health requirement Do all applicants meet health requirement? Yes/ No Character requirement You and family members must meet the character requirement. Yes/No Sign the Australian values statement Do all applicants agree to read and sign   an Australian Values Statement? Yes/ No Have no debt to the Australian Government Does any applicant owe the Australian Government money? Yes/No Not have had a visa cancelled or a previous application refused Does any applicant have an Australian visa cancelled or a previous application refused? Yes/ No

188 B Business Investor stream 

With this visa, you can

• carry out business and investment activity in Australia
• bring eligible members of your family with you
• apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Investor stream if certain requirements are met

You must

• be nominated by a State or Territory government agency to invest at least
  • AUD2.5 million that meets certain requirements if you were invited to apply on or after 1 July 2021
  • AUD1.5 million in an Australian State or Territory if you were invited to apply before 1 July 2021
• score at least 65 on the points test
• have net business, investment and personal assets of at least AUD2.5 million

 

– Eligibility assessment questionnaire – B 188 B Business Investor stream

Be nominated – You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa. Do you want us to obtain a nomination from an Australian State or Territory government agency? YES OR NO Own and manage business and personal assets and investments Have you managed a qualifying business or investments with a net value of at least AUD 1.5 million? Yes/ Not sure You must also answer yes to at least one of the two questions below. For at least 1 of the 5 fiscal years immediately before the invitation to apply for the visa, have directly managed one of the following: A. a qualifying business in which you, your partner or you and your partner combined had at least 10% ownership interest – YES OR NO or B. an eligible investment of at least AUD1.5 million owned by you, your partner or you and your partner combined – – YES OR NO Required assets A.      Does you, your partner, or you and your partner together, have business and personal assets with a net value of at least AUD2.5 million in the 2 fiscal years immediately before the invitation to apply? YES OR NO B.      Are those assets lawfully acquired and be available for transfer to Australia within 2 years of the visa being granted? YES OR NO Invest in Australia Can you make (on or after the time of application for this visa), a complying significant investment of at least AUD 2.5 million? YES OR NO Can you hold the complying significant investments continuously for the life of your provisional visa? YES OR NO Notes: It must be invested in the following proportions: at least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies at least AUD750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange a ‘balancing investment’ of at least AUD1.25 million in managed funds The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate. We prohibit direct investment in residential real estate. We strictly limit indirect investment in residential property through managed funds. You must not use investments as security or collateral for a loan. Right experience A.      Do you have at least 3 years’ experience managing one or more qualifying businesses or eligible investments YES OR NO Do you have a successful record of eligible investment or qualifying business activity YES OR NO Do you have demonstrated a high level of management skill in relation to the eligible investment or qualifying business activity YES OR NO Can you score at least 65 on the points test? Yes/ Not sure – please help me to calculate Intend to live in a specific State or Territory Do you have a genuine intention to live for at least 2 years in the State or Territory in which you have made the investment application? YES OR NO Be under 55 Are you under 55? Yes/ No If not under 55, is your business be of exceptional economic benefit? Yes/ No Does you or partner have a history of involvement in unacceptable activities Yes/ No Functional English Do all applicants aged 18 or over have at least functional English? Yes/No If do not have functional English, you need to pay the second instalment charge? Yes/ No Health requirement Do all applicants meet health requirement? Yes/ No Character requirement You and family members must meet the character requirement. Yes/ No Sign the Australian values statement Do all applicants agree to read and sign   an Australian Values Statement? Yes/ No Have no debt to the Australian Government Does any applicant owe the Australian Government money? Yes/ No Not have had a visa cancelled or a previous application refused Does any applicant have an Australian visa cancelled or a previous application refused? Yes/ No

188 C Significant Investor stream

With this visa, you can

• carry out investment activity in Australia
• apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Significant Investor stream if certain requirements are met.

You must

• be invited to apply for this visa
• be nominated by a State or Territory government agency or Austrade to invest at least  AUD5 million that meets certain requirements and have a genuine intention to hold that investment for  the life of your provisional visa
• have a genuine intention to live in the State or Territory whose government agency nominates you

 

Eligibility assessment questionnaire C Significant Investor stream

Be nominated You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa. Do you want us to obtain a nomination from an Australian State or Territory government agency? YES OR NO Invest at least AUD5 million Can you make (when you are invited after the application), a complying significant investment of at least AUD5 million? Yes / No Do you have a genuine intention to hold that investment for the life of your provisional visa? Yes/ No Notes: It must be invested in the following proportions: at least AUD1 million in venture capital and growth private equity funds which invest in start-ups and small private companies at least AUD1.5 million in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange a ‘balancing investment’ of at least AUD2.5 million in managed funds The managed funds can invest in a range of assets, including companies listed on the Australian stock exchange, Australian corporate bonds or notes, annuities and commercial real estate. Direct investment in residential real estate is prohibited. Indirect investment in residential property through managed funds is strictly limited. You must not use investments as security or collateral for a loan. Does you or partner have a history of involvement in unacceptable activities Yes/ No Functional English Do all applicants aged 18 or over have at least functional English? Yes/ No If do not have functional English, you need to pay the second instalment charge? Yes/ No Health requirement Do all applicants meet health requirement? Yes/ No Character requirement You and family members must meet the character requirement.  Yes/ No Sign the Australian values statement Do all applicants agree to read and sign   an Australian Values Statement? Yes/ No Have no debt to the Australian Government Does any applicant owe the Australian Government money? Yes/ No Not have had a visa cancelled or a previous application refused Does any applicant have an Australian visa cancelled or a previous application refused? Yes/ No

188 D Entrepreneur stream

With this visa, you can…

• carry out entrepreneurial activity in Australia
• bring eligible members of your family with you
• apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream  if you meet certain requirements

You must

• be nominated by a State or Territory government agency
• undertake, or propose to undertake, a complying entrepreneur activity in Australia
• show us a business plan for your entrepreneurial activity
• have at least competent English 

– Eligibility assessment questionnaire – D Entrepreneur stream

Receive an invitation to apply I acknowledge that I must first submit an Expression of Interest (EOI) to an Australian State or Territory government agency and be invited to apply for this visa. YES / No Be nominated You must be nominated by an Australian State or Territory government agency, before being invited to apply for this visa. Do you want us to obtain a nomination from an Australian State or Territory government agency? YES OR NO Are you under 55? Yes/ No If not under 55, is your business be of exceptional economic benefit? Yes/ No Have a complying entrepreneur activity I acknowledge that I must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia and have a genuine intention to continue this activity. YES OR NO Note: A complying entrepreneur activity must relate to an innovative idea that will lead to: the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia This activity must not relate to any of the following categories: residential real estate labour hire purchase of an existing enterprise or a franchise in Australia Be endorsed by a recognised body I acknowledge that I must be endorsed by a nominating State or Territory government agency to develop your entrepreneurial concepts. Yes/ No Does you or partner have a history of involvement in unacceptable activities Yes/ No Have competent English I have at least competent English Yes/ No Health requirement Do all applicants meet health requirement? Yes/ No Character requirement You and family members must meet the character requirement. Yes/ No Sign the Australian values statement Do all applicants agree to read and sign   an Australian Values Statement? Yes/ No Have no debt to the Australian Government Does any applicant owe the Australian Government money? Yes/ No Not have had a visa cancelled or a previous application refused Does any applicant have an Australian visa cancelled or a previous application refused? Yes/ No

Definitions and explanations

Main business

A business is a main business if it meets the ownership requirements and

• • the applicant maintains or maintained direct and continuous involvement in management of the business from day to day and in making decisions affecting the overall direction and performance of the business and
  • the business is a qualifying business, that is operated for the purpose of making profit by providing goods and/or services (other than the provision of rental property) to the public and which is not operated primarily or substantially for the purpose of speculative or passive investment.

Officers should assess the aspects of the main business definition holistically and not focus on one area only. Passive investors in a business would not meet this requirement.

Direct and continuous management involvement

The policy intention of direct and continuous management involvement as part of the main business definition is to establish whether the applicant has been actively managing and operating the business.

Ownership interest in a main business

Ownership interest in relation to a business means an interest in the business as:

• • a shareholder in a company that carries on the business or
  • a partner in a partnership that carries on the business or
  • the sole proprietor of the business

including such an interest held indirectly through one or more interposed companies, partnerships or trusts.

For the ownership interest to be in a ‘main business’ the applicant must:

• • have maintained direct and continuous management in the business
  • have an ownership interest to the total value of at least:
    • 51% if the turnover is less than AUD 400 000 or
    • 30% if the turnover is AUD 400 000 or more or
    • 10% if the business is a publicly listed company

and the business must be a qualifying business (refer to the regulation 1.03 definition).

Documentation

An applicant’s ownership/share of a business may be evidenced by, but is not necessarily limited to:

• • share or company registers
  • the list of directors or shareholders in annual reports
  • certificates of incorporation or registration
  • company statements of directors and shareholders
  • financial statements showing the distribution of profits to directors/shareholders and the value of any loans between the applicant and the business
  • share certificates
  • documents relating to the purchase, transfer or sale of a business
  • title deeds
  • business registration documents for partners or sole proprietors
  • Australian Securities and Investment Commission (ASIC) company extract.

If applicable, these documents should be issued or endorsed by the official body responsible for the registration or regulation of the business in that country or state.

Assessing ownership interest

An applicant has ‘ownership interest’ in a business on the first date that all the visa requirements are met such as:

• • registered/recognised as a shareholder, partner or sole proprietor
  • the company, partnership, trust arrangement or sole proprietor business commenced operating
  • the business is or was carrying on business activity during the required period of ownership

Qualifying business Policy intention

Qualifying business is defined in regulation 1.03.

If a business:

• • does not provide goods and services
  • is not growing or developing goods or services (for example, growing a crop or developing a product) or
  • has been set up for speculative or passive investment

for Business visa purposes, it:

• • does not meet the definition of a qualifying business and
  • cannot meet the definition of a main business.

Asset transferability

For 188.228, by requiring the assets to be available for transfer within 2 years, the assets must be reasonably liquid and capable of being transferred to Australia in order to be used to commence business activity.

Turnover

Under policy, turnover is to be taken to refer to the revenue generated as a result of the ordinary activities of a business.

The visa specific criteria of some of the Business visas require an applicant to have held the requisite ownership interest in a main business for the entire fiscal year before the turnover of the business could be counted.

What is turnover

Turnover is the revenue generated by an entity as a result of the ordinary activities of a business.

Revenue consists of the total value received for:

• • the sale of goods
  • fees for services provided
  • commission revenue
  • interest earned
  • capital gains or
  • government subsidies/bounties.

Net business assets

The net value of the assets of a business is the amount attributable to the business after deducting financial claims upon the business by third parties (that is, total assets – total liabilities = net asset/liability).

The method of establishing the net value of assets in a business can vary depending on whether the business is:

• • a sole proprietorship – refer to Unincorporated businesses (sole proprietors and partnerships)
  • a partnership – refer to Unincorporated businesses (sole proprietors and partnerships)
  • a company – refer to Incorporated businesses (public and private companies)
  • a franchise – refer to Franchises
  • operated in conjunction with a trust fund – refer to Trusts.

The applicant must provide evidence, such as financial statements, that provide details of the assets and liabilities of the business – refer to Evidentiary requirements.

Overall successful business career

Assessment

In any assessment of the applicant’s business career, the performance of businesses in which the applicant has had a management role is a relevant factor.

Under policy, this criterion generally should not be considered satisfied if:

• • the applicant has been declared bankrupt in the last 5 years or
  • the applicant is (or has been) actively involved in a business that is (or has been) subject to insolvency, receivership or liquidation or
  • the business has suffered recent trading losses and the business is considered unlikely to be successful in the longer term and this can be attributed to the applicant’s role and decision-making in the business. (That is, it is not intended that an applicant fail this criterion if the business is likely to be successful in the longer term despite trading losses resulting from external factors such as those listed below).

Officers should take into account:

• • the applicant’s level of decision-making and responsibility in the failed business and
  • external economic factors outside the control of the applicant and
  • how many times the applicant has experienced bankruptcy or been involved in a failed business and
  • the applicant’s history in business since any bankruptcy, insolvency, receivership or liquidation.

Business Proposal

You must propose to engage in eligible business activity that is highly relevant to your recent business experience.

The proposed business must [preferable for some states entities] be within your area of expertise. This must be demonstrated through 3 years of highly relevant business history .

Proposals/plans should be genuine, realistic, and achievable. A business proposal should be more than just a description of what is hoped to be achieved. The business visa holder should provide evidence of comprehensive research, feasibility and due diligence studies, and analysis of the proposed market.

Department perspective

As a visa criterion

Applicants for provisional Business visas and the Business talent visa are required to demonstrate that they have a genuine and realistic commitment, after entry to Australia to:

• either establish a qualifying business in Australia or participate in an existing qualifying business in Australia and
• maintain a substantial ownership interest in that business and
• maintain direct and continuous involvement in management of that business from day‑to‑day and in making decisions that affect the overall direction and performance of the business in a manner that benefits Australia economically.

Applicants for the investor provisional visas are required to demonstrate that they have a genuine and realistic commitment, after entry to Australia, to continue to maintain business or investment activity in Australia after the designated investment has matured.

Documentation

Applicants should not normally be required to present a definitive business plan, but rather should be asked to indicate their business intentions in Australia. Officers should seek broad details of the proposed business or investment activities and assess whether the applicant has an understanding of the Australian business or investment environment in which they would operate. As an applicant may have several business or investment options in mind, officers may wish to assess whether the commitment to follow through one or more of the broad proposals is genuine as well as realistic.

Assessment

The policy intention is to measure the likelihood that the applicant intends to enter into a satisfactory level of business or investment activity in Australia.

State/Territory nominated applicants would generally satisfy this requirement by virtue of their nomination. However, an applicant with clear and stated intentions of remaining overseas whilst the spouse establishes and maintains a business in Australia may not meet this requirement.

The applicant satisfying the primary criteria is required to demonstrate that:

• they plan to establish and maintain a substantial ownership interest in a business in Australia
• they plan to maintain direct and continuous involvement in the management of the business in Australia
• the intended business will be of economic benefit to Australia
• their business or investment intentions are genuine and realistic

No individual factor should be taken as definitive evidence of the genuineness (or otherwise) of the applicant’s commitment. Rather, in making their assessment, officers are expected to have regard to all factors relevant to this criterion. Any doubts may be resolved at interview.

Commitment to maintaining ownership interest

The applicant must plan to start a new business in Australia, become involved in an existing business in Australia or continue an existing involvement in a business or investment in Australia. They must have a genuine and realistic commitment to own a substantial interest in that business or investment in Australia.

Substantial ownership interest

The term ‘substantial ownership interest’ reflects the policy intention that applicants not obtain merely a minor financial interest in a business, but rather obtain one that is substantial, and to which is attached, as a result of the size of the interest or shareholding, a degree of control over the affairs and operations of the business. To meet this requirement an applicant must plan to attain:

• a majority or equal ownership share in a business or
• if a publicly listed company, at least 10% ownership.

Direct and continuous management

The primary applicant must intend to be involved in the direct and continuous management of a business in Australia from day‑to‑day and in making the decisions that affect the overall direction and performance of the business. In order to satisfy the criteria for the grant of a residence Business visa, provisional Business visa holders will require a minimum level of ownership, net assets in business and a minimum time spent residing in Australia amongst other requirements.

Benefit to Australia

Under policy, for this criterion to be satisfied, the applicant should satisfy the decision‑maker that the proposed business activity will reflect the expected outcomes of the Business programs. The proposed outcomes include, but are not limited to:

• development of links with international markets or
• creation or maintenance of employment or
• export of Australian goods or services or
• substitution of locally produced goods or services for goods and services currently imported to Australia or
• introduction of new or improved technology or
• increase involvement in innovation activities or
• adding to commercial activity and competitiveness within the Australian economy.

Realistic and genuine commitment

In assessing whether the applicant’s (realistic) commitment to establishing (or participating in) and maintaining involvement in a business or investment in Australia is genuine, officers should have regard to factors such as, but not necessarily limited to:

• considering the probability of the applicant’s commitment to establishing (or participating in) a business in Australia being realised, taking into account their background, resources, stated intentions, and research undertaken in their proposed area of business activity and
• the extent of the applicant’s research into the Australian business environment (whether this was undertaken personally or by others may also be relevant, depending on the nature of the proposed business and the standing of the person) and
• the degree of planning undertaken by the applicant for the establishment of a business in Australia or for participation in an existing business and
• the applicant’s proposed timetable for establishing a business in Australia, including proposed timing for the transfer of cash and other assets and
• the applicant’s stated intentions relating to their existing business in their home country and when the applicant plans to reside in Australia. Note: the applicant is not required to discontinue business activity in their home country but is required to effectively manage the business in Australia on a day‑to‑day basis and
• pre‑existing businesses, investments or other business links with Australia and
• whether the applicant has made any business‑related exploratory visits to Australia to assess business and settlement possibilities and
• support, if appropriate, from a reputable potential joint venture partner in Australia.

No one factor should be taken as definitive evidence of the genuineness (or otherwise) of the applicant’s commitment. Rather, in making their assessment, officers are expected to have regard to all factors relevant to this criterion. Any doubts may be resolved at interview. In addition, officers should avoid making commercial assessments as to the viability (or otherwise) of the proposed business or industry sector in Australia.

Demonstrated need to be in Australia

Criterion: , 188.223, 188.231

As a visa criterion

Certain provisional Business visas require an applicant to demonstrate that there is a need to reside in Australia to conduct or establish the proposed business activity.

It is intended that the proposed business activities be of a nature that will require a substantial presence in Australia to manage day‑to‑day affairs. However, this does not require the applicant to be in Australia all the time.

This criterion also recognises that the provisional visas are designed as a step towards achieving permanent residence in Australia and that under the 2‑stage arrangements, a period of physical residence in Australia is one of the requirements that an applicant must meet.

Assessment

The applicant must provide sufficient information regarding their proposed business activities to demonstrate that they need to be in Australia to conduct the business. In most circumstances this will be assessed based on the information provided in support of an applicant’s genuine and realistic commitment to engage in business in Australia. Refer to: Genuine and realistic commitment.

There may, however, be various circumstances in which this criterion is not satisfied. Business activities for which an applicant might not need to spend a substantial amount of time in Australia might include:

• internet trading businesses
• occasional export of Australian made products (in particular to the applicant’s overseas business)
• occasional import of overseas products to Australia (in particular from the applicant’s overseas business) or
• brokering of products between countries other than Australia.

The policy intention may be met if the applicant wishes to set up an export company to regularly export Australian goods to a variety of countries.

3.10.5. Overall successful business career

The policy intention is to measure the business performance of the applicant for their entire business career including any business activities that pre‑date the assessment period specified in other criteria for these subclasses.

Assessment

In any assessment of the applicant’s business career, the performance of businesses in which the applicant has had a management role is a relevant factor.

Under policy, this criterion generally should not be considered satisfied if:

• the applicant has been declared bankrupt in the last 5 years or
• the applicant is (or has been) actively involved in a business that is (or has been) subject to insolvency, receivership or liquidation or
• the business has suffered recent trading losses and the business is considered unlikely to be successful in the longer term and this can be attributed to the applicant’s role and decision‑making in the business. (That is, it is not intended that an applicant fail this criterion if the business is likely to be successful in the longer term despite trading losses resulting from external factors such as those listed below).

Officers should and will take into account:

• the applicant’s level of decision‑making and responsibility in the failed business and
• external economic factors outside the control of the applicant and
• how many times the applicant has experienced bankruptcy or been involved in a failed business and
• the applicant’s history in business since any bankruptcy, insolvency, receivership or liquidation.

External factors

Officers should have regard to external economic factors that may affect the success of a business, for example:

• the impact of external economic trends, for example, recession/inflation
• a fall in property values
• a drop in world commodity/raw material prices
• changes in taxation/tariff regimes (or similar) adversely affecting the trading position of the business
• whether any recent trading loss incurred by the business was the result of market forces (as described above), other external adverse economic factors or the legitimate movement of assets out of the business, as opposed to poor business acumen and/or poor management decisions by the applicant.

The applicant may be considered to have an overall successful business career if the applicant successfully managed the business prior to the above situations occurring or evidence demonstrates that the business is recovering under the management of the applicant.

External personal factors beyond the applicant’s control, such as illness in the family or the actions of a business partner, would impact on whether the applicant had an overall successful business career unless there is substantial evidence that the applicant contributed to the success of the business both before and after the situation occurred.

Net losses

The net value of profits and losses are recorded in the financial statements for the business. If losses are recorded, the applicant must provide details of any relevant factors leading to the loss/losses, in order for officers to assess whether the loss was incurred as the result of poor business acumen/management decisions by the applicant.

An applicant would not fail the overall successful business career requirements if the loss/losses resulted from legitimate business decisions that result in the increased equity in the business or the potential to result in increased profitability, market share, business growth and/or competitive advantage. For example, the net value of the profits of the business may have been reduced because potential profits were offset against expenses which resulted from the acquisition of additional assets for business operations (for example, depreciation/finance expenses).

If there are doubts

Doubts as to the overall success of an applicant’s business career should be resolved at interview. Officers may also undertake further checks or seek more advice, for example, to verify the applicant’s involvement in the business or to help establish the nature of the applicant’s business reputation and achievements in the local or international business community. Such checks or advice may be obtained by consulting Austrade or Invest Australia offices overseas and/or in Australia.

Victoria  – business proposal

• Job creation

You must also demonstrate that your business will create jobs in Victoria.

You must employ at least 2 full time eligible employees.

We may refuse your nomination application for a permanent visa (subclass 888A) if you have not employed at least 2 full time eligible employees.

Exemption: You could be exempt from this job creation requirement if your eligible business’ turnover is at least A$1 million per year for the 2 years before you apply for permanent residency.

*See the Glossary of Terms page for the definition of ‘eligible full-time employees’.

• $500,000 investment into Eligible Victorian Business

You must provide evidence of business investment of at least $500,000 in your Victorian business/s for a period of 1 year immediately before your (Subclass 888) Business Innovation nomination application.

You will be required to provide a balance sheet for the last 2 years showing a value of $500,000 or greater maintained for a 1-year period immediately preceding your Subclass 888 visa nomination application.

• English language skills

At the time of your Victorian (subclass) 888 visa nomination application, you must provide evidence that you or your spouse have one of the following:

• • Functional English at time of your nomination application, or
  • documentation showing that you have completed any English course funded by the Department of Home Affairs AMEP.

*See the Glossary of Terms page for specific meaning of ‘Functional English’.

An applicant with a High Performing Victorian Business will have the English skills requirement waived. Please see the section below on what is considered a High Performing Victorian Business.

Exporters – Important information for export business activity

If you are proposing to engage in export activity, you must read and be aware of the following information.

What is parallel exporting?

Parallel exporting is where goods are sold in an export market without the consent of the owner of the goods trademark.

You must demonstrate that you have not engaged in parallel exporting in your Victorian business when you apply for your permanent visa nomination.

What evidence do I need if I am exporting goods?

Evidence may include:

• Official certificate or agreement from the trademark owner authorising export activity, or
• authorisation from the trademark owner to the supplier/distributor for export activity, or
• correspondence (e.g., meeting notes, emails) showing the trademark owner understands the business migrant’s export intentions, or
• partnership or contractual agreements between the trademark owner and business migrant.

What is an example of parallel exporting?

For example, a Victorian business migrant purchases wine from a wine supplier or wholesaler. The brands purchased have existing and official export channels into the relevant country.

The business migrant only has a receipt of purchase and no additional evidence that shows the trademark owner is aware of, or consents to, the business migrant exporting the wine.

This is an example of ‘grey market’ or ‘parallel exporting’ and is not permitted in the Victorian Government’s Business Innovation and Investment Program.

Eligibility requirements

Innovation capability

You must show your capacity to innovate by demonstrating one of the following in your SkillSelect Expression of Interest (EOI) and your nomination application:

• Your main overseas business has an annual turnover of $1,750,000 or greater, or
• you have a bachelor’s degree in business, science or technology from an Australian institution or an overseas institution of a recognised standard, or
• you have any business innovation qualification claimed in your EOI (except ownership in a business with no less than 50% of turnover in export trade).

Age

You must be under 55 at the time of your visa application.

Business History

You must have at least 3 years business ownership experience listed in your SkillSelect EOI.

The Victorian Government may request a summary of your current business or relevant business history that includes:

• The products or services sold by the business,
• current business name, address, and website (if available),
• annual turnover,
• the client profile of the business (who does your business sell to),
• the purpose of the business “e.g., to provide software solutions that are more efficient, effective and user friendly to sole traders”.
• photographs of the products/services, and photographs of the place of business.

Points

You must have achieved at least 65 points on the Australian Government’s points test for your EOI in SkillSelect.

What you’ll need

You may be required to provide supporting documents in your application to show that you have relevant business experience in a field highly related to your proposed Victorian business.

Terms

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

https://liveinmelbourne.vic.gov.au/migrate/business-investor-visas/glossary-of-terms

 

Establish a Residence in Victoria	The visa holder is required to purchase or rent a residential home as evidence of their residence in Victoria. Bond receipt documents and a formal lease will be required to evidence rental of a residence. Formal title deed will be required to evidence property purchase. You may also be required to provide Passenger Movement Records and utility bills for the period of residence.Staying with friends outside of a formal lease arrangement during this time is not accepted, as it does not demonstrate a financial commitment to continue living in Victoria.For border towns only (those that share a border with SA or NSW) evidence of residency in Victoria will be accepted at the discretion of the Victorian Government.The visa holder is not permitted to reside in any other state other than Victoria while holding the Victorian Nominated 188 visa.Primary visa holders or their spouse are also required to meet the Department of Home Affairs’ residency requirements for this visa subclass.
Export Activity	Businesses that report at least $2,000 (in current prices) of export sales in BAS are considered as having undertaken export activity. This is consistent with the Australian Bureau of Statistics (ABS) definition of an exporter.
Parallel Exporting/Grey Market Exporting	This refers to the practice of products being sold in/to overseas markets without the express consent of the trademark owner. This type of exporting is not permitted and is not eligible for Victorian nomination. This exclusion ensures that Victorian nominated business migrants export with the permission of the product manufacturer or trademark holder. This ensures that the business migrant is not competing against the trademark owner in the same market for the same clientele. It also encourages the migrant to interact with brand owners and identify areas they could collaborate for growth into new markets.
Victorian Business/s	A Victorian business must have its main premises located in a Victorian postcode. The main premises is defined as the location where the majority of staff are located.
STEMM Qualification	Any completed degree (no less than 3 years full time/6 semesters full time) that includes; Science, Technology, Engineering, Maths or Medical Science/Medicine in the degree or award name. Social sciences and humanities qualifications are excluded. An eligible degree can have been completed at any time, in any country and in any language. To evidence qualifications, the relevant award certificate and complete transcript is required, in addition to the qualification being listed in the applicant’s relevant SkillSelect EOI at the time of nomination.
Victorian Business Turnover	Turnover of the eligible business/es is calculated including GST and on a rolling 12-month basis. The Victorian Government uses the same definition of annual turnover as the Department of Home Affairs.

 

Victoria – Investor and Significant Investor streams open 22/09/2021

Skilled and Business Migration Victoria have provided an information update on the SC 188B and 188C streams. The visa nomination programs are now open.

Those who received a Victorian government nomination for an Investor or Significant Investor visa prior to 1 July 2021 are not affected by these changes even if their visa is still in process.
There have been major changes to the program in line with the Department’s changes to the investment requirements for these subclasses.

Investor (188B)

• Complying investments of A$2.5million (held for the duration of the provisional visa)
• Minimum SkillSelect points score of 80
• No requirement to make any additional investments
• No requirement to invest in Designated Investment Bonds
• All complying Venture Capital and Private Growth Equity funds (VCPE) investments must be made into Victorian based funds.

Significant Investor (188C)

• Updated Complying Investment Framework for complying investments of A$5 million (held for the duration of the provisional visa)
• All complying Venture Capital and Private Growth Equity funds (VCPE) investments must be made into Victorian based funds.

NSW – Business Innovation and Investment (Provisional) visa (subclass 188) open 22/09/2021

The following information has been provided by NSW Skilled and Business Migration:

Direct applications for the Business Innovation and Investment (Provisional) visa (subclass 188) for the following streams are now being accepted for:

• Business Innovation stream
• Investor stream
• Significant Investor stream

Eligibility criteria and application instructions are available by following the links to each respective subclass.

A new nomination process for the Entrepreneur stream

You must now be invited to apply for NSW nomination for the Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream – you cannot apply directly.

To register your interest in NSW nomination you must:

Be eligible

To register your interest in NSW nomination, you must first meet all the NSW nomination criteria.  Contact us for an eligibility criteria assessment.

Pay the registration of interest fee

Registration of interest fees are:

• A$330 if applying from within Australia (includes GST)
• A$300 if applying from outside Australia
• You will not receive an outcome until the payment is made.

Apply for NSW nomination

If you have been invited, We can apply to NSW for nominations.

Updates

Victoria’s Entrepreneur stream (188E) visa [start-up ] nomination Australia

This is a new Australian visa for high quality start-up talent! Victoria’s Entrepreneur stream (188E) visa [start-up ]nomination Australia.
It will be a limited.

Victoria’s Entrepreneur stream (subclass 188E) visa nomination program is now open to start-up founders and co-founders who plan to grow their innovative business ideas in Victoria. To be eligible for this visa, you must be recommended to us by an Authorised Recommending Partner (ARP).

It will be a limited, referral only visa program.

Stay: Up to 5 years

Stay longer: 3 years after you have this visa, you can apply for permanent residence.

Cost: No fee

Nomination processing time: 20 business days

To be eligible for Victorian Entrepreneur steam (subclass 188E) visa nomination you must:

• be under 55 years of age
• have competent English
• have a formal letter of recommendation from an Authorised Recommending Partner
• be committed to meet the requirements for permanent residence, and
• meet the Department of Home Affairs requirements including minimum financial requirements.

What is an Authorised Recommending Partner?

The Victorian Government is partnering with a select group of reputable partners to support the identification of suitable talent for subclass 188E visa nomination. All partners have a deep knowledge of the Victorian start-up sector and are well placed to identify and recommend the best talent. Recommended individuals will be start-up owners whose business is considered to have capacity for growth.

Hatch Quarter

Based in Melbourne, Australia, Hatch Quarterexternal link is an innovation hub bridging the gap between industry, technology and human through being data driven, harnessing the value of diversity and inclusion, and connecting local and international communities.

The University of Melbourne

Melbourne Accelerator Program

The Melbourne Accelerator Programexternal link (MAP) was launched in 2012 as the first University-aligned accelerator in Australia. Powered by the University of Melbourne, MAP has supported over 240 startups that have raised over $250 million in funding, generated over $250 million in revenue, and created over 1,400 jobs.

Translating Research at Melbourne

Translating Research at Melbourneexternal link (TRAM) is Australia’s premier University-based research impact accelerator program. Since launching in 2016, TRAM has seen over 700 participants complete its programs and workshops, empowering researchers to change the way they approach research problems to achieve real-world impact.

LaunchVic

LaunchVicexternal link is Victoria’s lead start-up agency. We were established by the Victorian Government in March 2016 as an independent agency to fuel the growth of Victoria’s start-up ecosystem. We invest in Victorians so they have the confidence and capability to create, scale and invest in start-ups.

 

To find out more, see Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream