Business and Innovation Visa
Australia offers several business and investment visa options for individuals seeking to establish or manage a business, invest in the country, or undertake entrepreneurial activities. As of my last knowledge update in January 2022, the following mentioned the categories of Business and Innovation Visa
Visa Categories
Business Innovation and Investment Visa
This permenant visa is designed for individuals who hold a provisional Business Innovation and Investment visa (Subclass 188) and wish to extend their stay in Australia. It includes various streams such as Business Innovation, Investor, and Significant Investor.
Business Innovation and Investment Visa
This is a provisional visa (subclass 188) visa that allows individuals to own and manage a business, engage in an investment activity, or undertake an entrepreneurial venture in Australia. It consists of five streams: Business Innovation, Investor, Significant Investor, Premium Investor, and Entrepreneur.
Business Talent Visa
The Business Talent permanent (subclass 132) visa is for high-caliber business owners or entrepreneurs who are nominated by a state or territory government agency. There are two streams: Significant Business History and Venture Capital Entrepreneur.
Investor Retirement Visa
Ignite innovation in Australia's business landscape with business and innovation visas, empowering visionary leaders to cultivate the growth. (subclass 405)
Premium Investor Visa (PIV)
A stream under the Business Innovation and Investment (Provisional) Visa (Subclass 188), the PIV is for individuals willing to make a significant investment in Australia. This visa is by nomination only and requires a minimum investment of AUD 15 million.
Significant Investor Visa (SIV)
Another stream under the Subclass 188 visa, the SIV is for individuals willing to invest at least AUD 5 million in complying significant investments in Australia.
Entrepreneur visa
The Entrepreneur visa is designed for individuals with innovative business ideas and a funding agreement from a third party in Australia. It allows entrepreneurs to develop and commercialize their innovative ideas in Australia.
General Process
Many business and investment visas require the submission of an Expression of Interest (EOI) through the SkillSelect system.
For some visas, applicants need to be nominated by a state or territory government agency or an Australian citizen or permanent resident with a significant business history.
If the EOI is successful, applicants may receive an invitation to apply for the visa.
Submit a comprehensive visa application, including supporting documents, business plans, and evidence of financial capacity.
The application is assessed, and if successful, the visa is granted.
Once in Australia, visa holders are typically required to engage in the approved business or investment activities.
Given the complexity of business and investment visas, it is advisable to seek guidance from a registered migration agent or legal professional to navigate the application process successfully. Additionally, it’s important to check the latest requirements on the official website of the Australian Department of Home Affairs.