Business Skilled Migrants | SKILLSELECT
Be advised the Department of Home Affairs (Formerly DIAC/DIBP) have introduced a new “processing” model it is called SKILLSELECT and it impacts on many visa applications. see SKILLSELECT for more;
Focuses on business people with a proven record of business skills and expertise. In particular, it looks at your level of experience as a successful business or investment owner or senior executive.
- Business Owner – for owners or part owners of businesses;
- Significant Investment visas (SIV) [for more see below]
- Established Business in Australia – for people temporarily in Australia who are owners or part owners of businesses;
- Senior Executive – for senior executive employees of major businesses;
- Regional Established Business in Australia – for people temporarily in Australia who are owners or part owners of businesses in a designated area of Australia;
- Investment Linked – for investors/business people willing to invest in Australia.
Business Visit Visa Options
Business visitor visas are for business people to visit Australia for business purposes, for example, to attend a conference or training session, to conduct business with an Australia-based organisation, to conduct business negotiations or for an exploratory business visit.
Business activities do not include acting, musical performances or commercial film making.
Business Skills – Permanent
For people who have established the required level of business in Australia while holding a provisional Business Skills visa.
The new Business Talent visa has two streams:
- significant business history stream
- venture capital entrepreneur stream.
The significant business history stream is intended for high-calibre business owners or part owners of a business who have a genuine and realistic commitment to manage a new or existing business in Australia. The requirements of this stream are similar to the previous (pre-July 2012) Business Talent visa.
The applicant must have net business and personal assets of at least $1.5 million ($400 000 must be net business assets), and the business turnover is at least $3 million.
The venture capital entrepreneur stream is intended to attract the entry of entrepreneurs with a high-potential business idea. It is for entrepreneurs who have sourced at least AUD1 million in venture capital funding from a member of the Australian Venture Capital Association Limited
Business Innovation and Investment (Provisional) (subclass 188)
Business Talent visa, the provisional Business Innovation and Investment (subclass 188) visa also has two streams:
- the business innovation stream, or
- the investor stream
The new program will allow flexibility. It permits eligible provisional visa holders who have visas granted under the business innovation stream, or significant investor stream to apply for an extension to their provisional visa if this is required, and provided it is supported by the nominated state or territory government.
Significant investment visa – (SIV)
The Signiﬁcant Investor Visa is part of the Business Innovation and Investment Program which aims to attract successful investors and entrepreneurs to invest in Australia.
AR LAW Services, provides a full-service advice on all aspects of provisional and permanent Business Skills and Business Innovation and Investment Program Visas. This includes expert and practical advice and assistance with monitoring, compliance and audit requirements.
The Signiﬁcant Investor stream requires an investment of at least AUD 5,000,000 in complying investments.
Given Australia’s immigration laws are complex, here is a summary overview on the Significant Investor Visa.
- This requires a threshold amount of at least AUD 5,000,000 in a complying investment.
- Applicants must invest in complying investments which are:
- Commonwealth, State or Territory government bonds: there are no speciﬁc requirements of the terms and purposes of the bonds being issues.
- Direct investment to a private Australian company which operates a qualifying business through the provision of good and services not listed on the Australian Stock Exchange and where the applicant obtains an ownership interest in the company.‘Ownership Interest’ means an interest that the applicant has in the business as a shareholder in a company, or a partner in a partnership, or the sole proprietor of the business, and this interest can be held through a company, partnership or trust.‘Qualifying Business’ means a business that provides goods and/or services to the public. It must be operated for the purpose of proﬁt although it does not have to be operated at a proﬁt.
- Certain managed funds: these funds will be limited to invest in the following categories:
- infrastructure projects in Australia
- cash held by Australian deposit taking institutions
- bonds issued by the Commonwealth Government or by a State or Territory government
- bonds, equity, hybrids and other corporate debt in Australian companies and trusts listed on the Australian Stock Exchange
- bonds or term deposits issued by Australian ﬁnancial institutions
- real estate in Australia
- Australian agribusiness and
- other managed funds that invest in the above list of investments.
- Excluded investments include:
- Any business of providing rental property
- Speculative investments as for example buying/ selling of ﬁnancial derivatives, commodity future contracts, margin trading and trading in antiques, properties and shares
- Passive investments including capital gains from the purchase and sale of capital assets such as real estate.
- Ownership of complying investments require the complying investments to be owned:
- Directly by the applicant or the applicant and their partner together, or
- Through a company where the total amount of issued shares are owned by the applicant or the applicant and their partner together, or
- Through a trust where the trustee is the applicant or the applicant and their partner and the beneﬁciary is the applicant or the applicant and their partner.
- Source of funds of complying investments provide the Department of Immigration and Border Protection with the discretion to scrutinise the source of the funds as part of an assessment of complying investments.
- Management of complying investments does not require the applicant to have direct management however the applicant may be required to provide evidence that the investment is made genuinely and not contrived for migration purposes. The success or otherwise of the complying investments is not relevant to an assessment of that purpose.
- The Applicant lodges an online Expression of Interest and once invited to lodge their Subclass 188 visa application, the Applicant must make the application within 60 days.
- The Applicant must wait until they receive an invitation letter from the Department to make the investment which invitation letter will be provided once all other criteria has been met.
- The Applicant has 70 days from the date of the invitation letter to make the complying investment in order for the Subclass 188 visa to be granted.
The Signiﬁcant Investor stream offers signiﬁcant concessions to the Applicant in regard to their period of stay in Australia while the holder of the Subclass 188 visa. The Applicant must have been in Australia for a cumulative period of 40 days for each year or part year that they hold the visa. This means that the Applicant is only required to spend a total of 160 days as the holder of a Subclass 188 visa before they are eligible to make the Business Innovation and Investment (Permanent) (Subclass 888) visa provided they have maintained their investment during the 4 year period and meet the relevant permanent residency criteria.
Preparing to Apply
As masters of immigration law, AR LAW Services can help you with each aspect of the legal requirements including:
- Expression of Interest
- If invited to apply, your visa application
- If your application requires nomination by a State or Territory Government, the nomination application
- The documentation which is required including records and evidence relating to your:
- Work experience
- Educational background
- English skills
- Business and investment experience
- Advices on your proposed business and/or investment activities in Australia and
- Other relevant issues.
AR LAW Services can also work with your business advisers and accountants to assist with all aspects of the visa process and their required extensive supporting documentation.
Business Innovation and Investment (Permanent) (subclass 888)
To graduate to the second stage, permanent Business Innovation and Investment (subclass 888) visa applicants have to:
- hold a provisional Business Innovation and Investment visa;
- have met the objectives of the provisional visa; and
- meet the requirements of either of the following stream: Business innovation stream or the Investor stream or the Significant Investor stream.
For people to assist in the economic development of Australia. This visa allows you to stay in Australia on a permanent basis for the purpose of owning a new or existing business.
Business visits to Australia for up to three months
Available to passport holders from a number of countries and regions.
Available to passport holders from the European Union and a number of other European countries.
For business people who are not eligible to apply for an ETA or an eVisitor.
For business people who have an approved sponsor in Australia.
The APEC Business Travel Card streamlines travel for business people from participating economies in the Asia Pacific Economic Cooperation (APEC) region.
For people who hold an Investor (provisional) visa and have maintained their designated investment/s for at least 4 years. Applicants must have been in Australia for at least 2 of the last 4 years.
For people who hold an Investor (provisional) visa and have an overall successful record of business or investment activities, and significant net assets to invest in a designated investment in Australia for four years. Applicants must also have a genuine commitment to maintain business and investment activity in Australia and be sponsored by a state/territory authority.
FREE INITIAL CONSULTATION
Initial Free 15 Minute Information Consultation with an Expert Migration Consultant for qualifying matters: