Australia’s thriving economy, coupled with its welcoming business environment and diverse opportunities, makes it an attractive destination for entrepreneurs and investors worldwide. However, navigating the Australian visa system can be daunting, with various visa options tailored to different business needs and circumstances. In this blog, we’ll explore the top Australian visa streams for business owners, outlining their eligibility criteria and key requirements.
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Business Innovation Stream:
The Business Innovation Stream is designed for entrepreneurs with a successful business track record who intend to establish, develop, or manage a new or existing business in Australia. Key eligibility criteria include:
- Age: Applicants must be below 55 years of age, although exceptions may be made for proposals of high economic benefit.
- Points Test: A minimum of 65 points is required on the Business Australian Immigration points test.
- Business Ownership: Applicants must have an ownership interest in an established business for at least two fiscal years, with a minimum turnover threshold.
- Net Assets: A minimum net asset requirement of AUD 800,000 is mandatory, to be legally transferred to Australia within two years of visa grant.
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Investor Stream:
The Investor Stream targets individuals willing to make a significant investment in an Australian state/territory. Key eligibility criteria include:
- Age: Applicants must be under 55 years of age, although exceptions may be considered for exceptional investment proposals.
- Points Test: A minimum of 65 points is required on the Australian Immigration points calculator.
- Investment Experience: Applicants must possess at least three years of experience in a qualifying business and demonstrate a successful career in business investments.
- Investment and Net Assets: Various investment and net asset requirements apply, including a minimum investment of AUD 1.5 million and net assets of AUD 2.5 million, ready to be transferred to Australia.
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Significant Investor Stream:
The Significant Investor Stream targets individuals willing to make a substantial investment of at least AUD 5 million in complying investments in Australia. Key eligibility criteria include:
- Investment Commitment: Applicants must commit to holding the investment for a minimum of four continuous years.
- Investment Options: Investments may include government bonds, Australian infrastructure projects, real estate, and direct investment in Australian private companies.
- Residence Requirement: Applicants must reside in the nominated Australian state/territory and maintain their business activities in Australia.
- Net Assets: A net asset requirement of AUD 5 million, eligible for legal transfer to Australia, is mandatory.
In addition to these visa streams, it’s essential for business owners to consider other factors such as taxation, compliance requirements, and ongoing business management obligations in Australia. Seeking professional guidance from registered migration agents and legal experts can greatly assist in navigating the complexities of the Australian immigration system and ensuring a smooth visa application process.
Conclusion
Australia offers a range of visa options tailored to the needs of business owners and investors. By understanding the eligibility criteria and requirements of each visa stream, entrepreneurs can make informed decisions and embark on successful business ventures in the Land Down Under. With its stable economy, vibrant business environment, and diverse opportunities, Australia remains a top destination for global business investment and entrepreneurship.