This visa is for people who have a successful business or investment career and have a genuine and realistic commitment to be involved in investing or business in Australia.
The business innovation and investment visa is also the first step towards being granted a permanent Business Skills visa.
This visa includes five streams:
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
- Investor stream: for people who want to make a designated investment of at least AUD$1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
- Significant Investor stream: for people who are willing to invest at least AUD$5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
- Premium Investor stream: for people who are willing to invest at least AUD$15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
- Entrepreneur stream: for people who have a funding agreement from a third party for at least AUD$200,000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government.
With this visa you can 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) and establish a pathway to permanent residence.
If you are in the Business Innovation stream you can renew your visa for an additional two years. A renewal application must be lodged online and your sponsoring state or territory government must confirm, in writing, that they continue to support you. These visas allow future applications for permanent residency under the Subclass 888 Visa subject to satisfying the criteria of the temporary visa program.
