Are you planning to start your business in Australia? Do you know for which business stream you should apply for the visa? As getting a business visa is not as easy as people think, you can also consult with migration consultants, but here is a brief and essential guide for you.
The business or investment stream permanent residence visa stream is dedicated to those who want to invest in Australia for business purposes. To apply for this visa under PR, applicants must have already provisional visa subclass 188 for one year at least and also meet the financial requirements necessary to apply for this visa.
Australia helps business owners and investors who want to invest in Australia. Due to this, Australia has continued Australian Business Visa Program, which allows business owners or investors to create new or existing business opportunities in Australia. It is also one of the best ways to get a PR visa.
After getting this visa, you are allowed to set up or manage a business in Australia. Also, you can conduct business or investment activity in Australia without any limitations.
Eligibility Criteria to Apply for Business or Investment Stream PR Visa:
If you plan to apply for a business or investment stream PR visa, you should know the eligibility requirements. Check out the eligibility requirements:
- To apply for a business PR visa, you need to submit an EOI, i.e. an expression of interest (EOI) in skill selection
- You should get a nomination from a state or territory government agency
- And you need to have an invitation to apply for this visa
Also, the applicant must qualify for one of three visa sub-categories:
- Business innovation
- Business investment
- Classification as a Significant Investor.
Before applying for this visa, you must check your; it should be less than 55 years at the time of submission. Also, you must share the details business plan for the business, or if you are an investor, you must share a plan for the growth of the existing business in Australia. Also, you need to have 65 points, including factors like age, education, provisional activities, experience in the investment, and more.
Streams of Business Provisional Visa Program
Ready to apply for a business or investor visa? You should know the streams of the business provisional visa program. For the provisional business visa program, seven categories are mentioned by the home affairs:
Business Innovation Stream
Business Innovation stream of provisional visa allows you to operate a new or existing business in Australia. It would be best if you were nominated by an Australian state or territory government agency or AUSTRAD.
To apply for a business visa, under the investor stream, you require to have 1.5 AUD at least in the Australian state of territory. Also, you need to maintain the business and investment activity in Australia.
Important Investor Stream
People who are willing to invest in the business, then the investment should be at least AUD 5 million to apply for the visa in this category. Also, the applicant should be nominated by an Australian state or territory government agency or AUSTRAD.
Business Innovation Extension Stream
The business innovation extension stream allows holders of the Business Innovation and Investment (Provisional) visa to extend their stay in Australia for two more years. Applicants for this extension must have held a Business Innovation Stream visa for at least three years and must also be nominated by the Australian state or territory government agency or AUSTRAD.
Significant Investor Extension Clause
With this visa, the visa holders of a significant investor stream can extend their stay in Australia for four more years. Applicants for this stream must have had a multiple investor stream for at least three years and must be received a nomination by an Australian state or territory government agency or AUSTRAD.
Premium Investor Stream
This visa stream requires enrollment by Austrade and an investment of at least AUD 15 million in Australian enterprises or charitable contributions.
An entrepreneur visa allows an individual to organize entrepreneurial activities in Australia.
Before you plan to apply for a Business or Investment Stream PR visa, review the above information and also check the eligibility criteria to apply for a Business PR visa.