Australia Provisional Visa from the Best Immigration Consultants
PROVISIONAL VISA
BUSINESS INNOVATION AND INVESTMENT (PROVISIONAL) VISA
There are three types of Visas applicable to this visa subclass:
- Business Innovation Stream
- Investor Stream
- Significant Investor Stream
For all of the above streams if you are married or in a de-facto relationship for at least 12 months prior to applying, your spouse’s assets may be included and combined to total the net assets required below. In addition, you are able to combine 2 businesses to evidence business turnover requirements, providing you can meet the business ownership % requirements. This visa is points tested. If you meet the requirements below, generally you should satisfy the point’s requirement.
- Business Innovation Stream:
This visa is aimed at people with a demonstrated successful business background with a genuine intent to own a business in Australia. The business can be a new venture or buy into an existing Australian Business.
This visa is the first step towards Permanent Residence status in Australia and allows you to:
- You must be under the age of 55 years old at the time of submitting the application
- You must have a good command of the English Language, obtaining no less than a 5 in each of the 4 bands of the IELTS test
- The annual turnover of your main business must have been at least AUD500,000 in at least two of the four fiscal years immediately before you apply
- In addition, you must have owned at least:
- 51 per cent of the business where the turnover is less than AUD400,000 per annum
- 30 per cent of the business where the turnover is AUD400 000 or more per annum
- 10 per cent where the business is a publicly listed company
- Your total personal assets have a net value of at least AUD800 000 and are ready to be transferred to Australia within 2 years of relocation
2 . Investor Stream
This Visa is for genuine business people with an investment background who are committed to maintaining business and investment activity in Australia. An investor must be willing to make a designated investment into an Australian State or Territory to the value of at least AUD1.5 Million.
This visa enables you to:
- Make a designated investment
- Travel in and out of Australia any number of times as long as the visa is valid
- Have your family accompany you to Australia. They will have access to work and study rights
- Establish a pathway to permanent residence.
There are basic requirements for this visa, listed as follows:
- You must be under the age of 55 years old at the time of submitting the application. In exceptional circumstances a waiver may apply to this restriction
- You must have vocational English [see above]
- You must intend to make a Government approved designated investment of AUD1.5 million in a State/Territory for 4 years
- The net value of your assets was at least AUD2.25 million for the two fiscal years immediately before you apply.
- You have a total of at least three years experience of direct involvement in managing one or more main businesses or eligible investments
- You have demonstrated a high level of management skill in relation to an eligible investment or qualifying business activity
- Immediately before you apply for the visa an applicant must have directly managed one of the following for at least one out of the last 5 fiscal years:
- You maintained direct involvement in managing your eligible investments. The total value of that investment was at least AUD1, 500,000.
- An interest owned of at least 10 percent in a qualifying business. This can either be owned by you or your partner or you and your partner combined
3. Significant Investor Stream
Unlike the Investor Stream above, this category does not require you to evidence a history of business and investment activities but it does require you to invest a sum of at least AUD5 million in any of the following options:
- Commonwealth, state or territory government bonds
- Eligible managed funds – that are limited to investing in any or all of the following Australian assets:
- infrastructure projects in Australia
- cash held by Australian deposit-taking institutions
- bonds issued by the Australian Government or a State or Territory government
- bonds, equity, hybrids or other corporate debt in Australian companies and trusts listed on any Australian stock exchange
- bonds or term deposits issued by Australian financial institutions
- real property in Australia
- Australian agribusiness
- annuities issued by an Australian registered life company
- loans secured by mortgages over the investments listed above
- derivatives used for portfolio management and non-speculative purposes (which constitute no more than 20 per cent of the total value of the managed fund)
- other managed funds that invest in the investments listed above
- Direct investment into private Australian companies – in which you have an ownership interest.
All investment is subject to Tax under Australian Law and you must agree not to take any action against the Australian Government for any loss relating to your investment at least for the first 18 months.
This visa is subject to State/Territory Sponsorship. This means that a state must sponsor your application and approve in your investment. You must live in the state that sponsors the investment.
Please get in touch today to discuss your business background and see whether you qualify to relocate to Australia as a Business Owner.
To be eligible under this category the applicant should:
- Be sponsored by an appropriate regional authority of a State or Territory government;
- Have an overall successful business career;
- Have an ownership interest in a main business or main businesses that had an annual turnover of at least A$ 300,000 for at least 2 of the 4 fiscal years immediately before the application is made or had a sound continuous business employment record in a senior management role on a qualifying business for at least 4 years immediately before the application is made and have demonstrated a high level of management skill.
- Have net value of business & personal assets (including spousal assets) at least A$ 250,000 and are available for transfer to Australia within 2 years after the grant of visa, plus sufficient assets available to settle in Australia;
- Be aged less than 55 years at the time of application
Migrating to Australia as Business Owner
To be eligible under this category the applicant should have an overall successful business career
- Annual turnover of at least A$ 500,000 in the main business or main businesses for at least 2 of the 4 fiscal years immediately before the application for visa is submitted.
- Net value of business & personal assets (including spousal assets) is at least A$ 500,000 which are available for transfer to Australia within 2 years after the grant of a visa, plus sufficient assets available to settle in Australia.
- Age less than 45 years at the time of application.
- Vocational English i.e. scoring 5 bands in IELTS examination.
