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Business-Investor

Time Processing Time in South Africa: 9-28 Months
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Government Nomination Fee: AUD$4675 for the main applicant and AUD$2340 for dependents over 18 years and AUD$1170 for dependents under 18 years

Business Innovation and Investment (Provisional) Visa Subclass 188

This is initially a temporary visa that leads to Permanent Residency in the long term. This visa is for a person/s who wants to own and manage a new/existing business in Australia. This visa is also for a person who wants to invest in an Australian State or Territory. If applying for this visa by investing in a State or Territory you must first receive a nomination from a State or Territory Government Agency and once issued with an invitation from the Minister of Immigration and Border Protection (DIBP) you will be able to apply for this visa.

There are three different visa streams under this visa subclass:

  • There is the Business Innovation Stream. This visa is for people that have business skills and who want to set up, develop and manage a new or existing business in Australia
  • There is the Investor Stream. This visa is for people who want to invest at least AUD$5 million into an Australian State or Territory as well as maintain business and investment activity in Australia.
  • There is the Significant Investor Stream. This visa is for people who want to invest a minimum of AUD$5 million into complying investments as well as maintain business and investment activity in Australia.

This visa is the first stage for becoming eligible to quality and apply for a Business Innovation and Investment (Permanent) Visa Subclass 888.

What are the Points Criteria

This visa also works on a points based system. In order to be eligible to apply for this visa you must score at least 65 points. However, this point’s requirement does not apply to the Significant Investor stream.

The points allocation is based on:

-         Your Age

-         Your English Language Ability (IELTS)

-         The Qualifications you hold

-         Your experience in Business & Investment

-         Your Personal Net value and Business Asset value

-         The Business Turnover

-         Innovation

What are the requirements for the different streams?

The requirements for the Business Innovation Stream are:

-         You must be under 55 years of age

-         You must score a minimum of 65 on the points test

-         You must have an ownership interest in an established business/s that has at least a turnover of AUD$500 000 for two out of four fiscal years immediately before you are invited to apply

-         You must own at least one of the following percentages of your nominated business:

  • if the business shows a turnover of less than AUD$400 000 per year you must own 51 percent
  • if the business shows a turnover of AUD$400 000 or more per year you must own 30 percent
  • if the business is a publicly listed company you must own 10 percent

-         You must have an overall successful business career

-         You must have a genuine desire to continually own and maintain a management role in the business in Australia

When receiving an invitation you and/or your or both combined must have a minimum total of AUD$800 000 net assets that have been lawfully acquired and available for the legal transfer to Australia within 2 years of the visa being issued to you.

The requirements for the Investor Stream are:

- You must be under 55 years of age

- You must score a minimum of 65 on the points test

- You must have a high level of management skill in relation to the investment or business activity

- You must have a minimum of 3 years experience of direct involvement in managing one or more of the businesses or investments

- You must have a successful record of investment/s or business activity

- You must have a genuine commitment to the continuation of your business and investment in Australia after the original investment has matured

-         You must have a genuine intention to live in the State or Territory in which you have made a designated investment for at least 2 years

- You/Your Partner or combined must have at least one of the following two criteria for 5 fiscal years immediately before you have been invited to apply, have directly managed:

  • have an interest owned by you/your partner or combined of at least 10 percent in a qualifying business
  • have at least AUD$1.5 million in an investment owned by you/your partner or combined

- You/Your Partner or combined must during the 2 fiscal years immediately before being invited to apply, have legally acquired a net business, investment and personal assets of at least AUD$2.5 million available for the legal transfer within 2 years of the visa being granted

- You/Your Partner or combined must make a designated investment of at least AUD$1.5 million in a State or Territory Government using unencumbered funds accumulated from qualifying businesses or investments and hold this investment for at least 4 years from the date of issue in your nominated State or Territory

- You/Your Partner or combined must have had no involvement in unacceptable activities

The requirements for the Significant Investor Stream are:

To be eligible for this visa you must make an investment of at least AUD$5 million in any of the three options listed below and hold that investment continuously for at least 4 years.

-         Invest in the Commonwealth, State or Territory Government Bonds

-         Have eligible managed funds that are limited to investment in any or all of the following Australian assets:

  • In Bonds or Term Deposits issued by Australian Financial Institutions
  • In Bonds issued by the Australian Government or a State or Territory Government
  • In Bonds, Equity or corporate debt in Australian companies and trusts that are listed on the stock exchange
  • In property in Australia
  • In Australian Agribusinesses
  • In infrastructure projects
  • In Annuities issued by an Australian registered Life Company
  • In cash held by Australian deposit taking institutions
  • In derivatives used for portfolio management and non-speculative purposes; which constitute to no more than 20 per cent of the total value of the managed fund
  • In other managed funds that invest in the investment listed above
  • In loans secured by mortgages over the investments listed above

- Have a direct investment in Private Companies in Australia in which you have an ownership interest. This company must operate a qualifying business

All income that you earn from your investments in Australia is subject to tax under the Australian taxation law. As part of this visas requirements you must also show that you have a genuine commitment to reside in the State or Territory whose Government Agency has nominated you; be prepared to continue your business and investment activity in Australia after your investment matures and live in Australia for a minimum of at least 160 days over the four years you hold your provisional visa.

Processing Times and Visa Requirements

This visa is a temporary visa that leads to Permanent Residency after 2 years of investing and living in Australia.

The average processing time of this visa can take between 9 to 28 months from the date that the application has been received by the Department of Immigration and Border Protection. This visa is issued for a maximum validity of 4 years after which you are able to apply for your Permanent Residence Subclass 888 visa. If you are applying under the Investor or the Significant Investor Stream, you must make your investments before being granted the visa.

The Main Requirements are:

Valid Passport
Birth Certificate’s of all family members in and outside for Australia/travelling and non travelling
IELTS for all applicants over the age of 18 years
Evidence of Net Assets
Evidence of Investment/s in Australia
Evidence of Qualifications
A clear criminal record (Certain cases can be discussed on a case by case basis, should there be an issue).
A clean bill of health (Certain cases can be discussed on a case by case basis, should there be an issue).

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