Business Innovation and Investment Visa Program creates business investment visa for applicants who desire to start a new business or want to reformulate an existing business by investing in it. This kind of visa is available for all entrepreneurs who are trying to commercialize, develop ideas towards innovations and formulate new plans. There are several types of visas that allow you to invest in Australia. Let’s find out details.
Eligibility Requirements to Obtain a Business Investment Visa
If you are considering applying for a business investment visa, you would need to meet the following eligibility requirements:
- You should have a temporary visa valid for 4 years
- A third party should give you a funding of $200,000 to establish a business in the country, and you must have a funding agreement for the venture. Within 12 months of business setup, you should agree to transfer minimum 10% of the funds to the funding party
- You should not be more than 55 years of age, unless your investment can provide an exceptional financial benefit to the country’s economy
- You must intend to continue your business for long
- You must have at least 30% interest in the venture
- You must score at least 6 points in English IELTS
- You must have received a visa invitation from skill select system
- You will need to submit your expression of interest, your detailed business plan, along with a few more documents
If your business turns out to be a success, you may apply for permanent residency after 4 years and even before that. If you think you meet these requirements to invest in a business in Australia, then you can go for any of the following options.
Business Investment Visa Options to Invest and Start a Business
There are a number of visa types that allow an individual to run their own business or invest in an existing business in Australia. Some of them are mentioned below:
- Business innovation stream: This visa is available for entrepreneurs who already have proven business skills in same or any other country.
- Investor stream visa for Australia: It is a common business investment visa in Australia. It is open for anyone who wants to establish, manage or develop a new or an existing business in the country.
- Significant investor stream visa for Australia: This visa is offered by the Australian Immigration Department and is open to those who want to invest at least AUD 5 million over 4 years.
- Premium investor stream visa for Australia: This visa is open for those who want to invest at least AUD 15 million in a business in Australia. It is extended only to those who are sponsored by Austrade on part of the Australian government.
- Entrepreneur stream visa for Australia: If you are an investment immigrant to the country and if you have arranged a third party to invest AUD 2,00,000 in the country, then you can apply for this business investment visa. You can use this amount either to start a business in Australia or expand an existing business in the country.
Starting a business in another country requires a big deal of legal formalities. You need to procure several documents to prove your credibility. You also need to fulfill a number of eligibility requirements even before applying for a visa. Have a look at the different types of business investment visa options and apply for the one that best suits your profile. Once you get your visa and you start your business in Australia, you are good to reap out all the benefits that the country has to offer.