With incredible growth opportunities, Australia is one of the best destinations for business people looking to expand their horizons. Australia is a talent hotspot, and its unique geographic location makes it a regional economic powerhouse. Entrepreneurs can establish or purchase a business in Australia with the Australian Business Innovation & Investment Stream (Provisional) visa (subclass 188).
A business investment visa in Australia is a path to permanent residency that provides tremendous benefits to successful applicants. Since the beginning of the pandemic, nearly 15,000 business visas in Australia have been granted to foreign millionaires under this scheme. The Business Innovation and Investment Program has four visa streams:
The business innovation stream: Individuals must pass a points test, have a successful business career with at least AUD 750,000 in revenue, and have AUD 1.25 million in net assets. They are also required to obtain and maintain significant ownership and management of an Australian business and must stay in Australia for at least one year.
The investor stream: In order to qualify for the investor visa in Australia, individuals must pass a points test. They are also required to invest AUD 2.5 million in a complying Australian-managed investment fund for the duration of the provisional visa’s validity. Also, an individual must stay in the country for at least two years.
The Significant Investor Stream: For the significant investor stream, one must invest at least AUD 5 million in a complying Australian-managed investment fund for the duration of the provisional visa validity and stay in Australia for an average of 40 days per year for primary visa holders.
The Entrepreneur Stream: The applicant must be approved by a state or territory government and have lived in the country for at least one year.