This visa is for overseas business people who wish to establish a new or develop an existing business in Australia. Full permanent residence is provided once the visa is approved.
Applicants must be less than 55 years of age unless this is waived on the basis that a state or territory government deems your investment to be of “exceptional benefit” to that state or territory.
Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia. The basic requirements for this stream are that you, your partner, or both of you combined, satisfy these requirements:
- You have held net assets of at least AUD400, 000 (in a qualifying business) in at least 2 of the 4 fiscal years immediately before you are invited to apply for the visa.
- Have total assets of at least AUD1.5 million that can be legally transferred to Australia within 2 years of the visa being granted.
- Have had a total annual turnover of at least AUD3 million (in one or more of your main businesses) in at least 2 of the 4 fiscal years immediately before you are invited to apply.
- Meet specific ownership requirements of your business interests.
- Have has an overall successful business career with no involvement in unacceptable business activities.
- Have a genuine desire to own and maintain a management role in a business in Australia.
Venture Capital Entrepreneur stream: for people who have sourced venture capital funding of at least AUD 1 million from a member of the Australian Venture Capital Association Limited (AVCAL) for the start-up, product commercialisation or business development relating to a promising high value business idea.
Venture Capital Association Limited (AVCAL) for the start-up, product commercialisation or business development relating to a promising high value business idea.