Australia offers a direct pathway to permanent residency for experienced business owners and investors through its Business Innovation and Investment visa program. This program aims to attract global business and investment talent to contribute to the Australian economy.
There are two main visa stages – a provisional visa valid for 4 years and a permanent visa if all requirements are met.
Business Innovation and Investment Provisional Visa (Subclass 188)
This is a 4-year provisional visa under 3 streams:
Business Innovation Stream
For experienced business owners wanting to establish, operate and own a new or existing business in Australia. Key requirements include:
- Recent business career with at least 3 out of 4 years as an owner in a successful business
- Minimum assets and turnover in qualifying business
- Proposed Australian business must contribute to the economy
- Business plan assessed for viability and opportunity
For investors able to invest at least AUD$1 million into complying investments in Australia and maintain them for 4 years.
Significant Investor Stream
For those investing at least AUD$5 million into complying investments such as government bonds, managed funds, VC/PE investments.
Business Innovation and Investment Permanent Visa (Subclass 888)
This permanent residence visa allows provisional 188 visa holders to stay in Australia indefinitely after:
- Managing their qualifying business or investment activity for at least 2 years
- Meeting all provisional visa conditions
- Demonstrating successful business establishment or investment requirements
The 888 visa removes the 4-year restriction and allows entrepreneurs and investors to continue operating their Australian business or investment activity with the security of permanent residency.
By attracting global business expertise, capital and entrepreneurial spirit, the innovation and investment visa program facilitates economic growth, drives job creation and encourages new business opportunities in Australia. It provides a streamlined visa pathway and support to convert global talent into successful Australian enterprises.