This is a permanent subclass of business visa that allows the visa holders to establish a new or develop an existing business in Australia. This subclass of visa has two streams.
- Significant business history stream: This visa is for business owners, to operate a new or existing business in Australia.
- Venture Capital Entrepreneur stream: This visa is for sourced venture capital funding from a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)).
Obligations for the applicant
To avail of this category of visa, there are certain requirements that you will need to fulfil according to the streams.
|Significant business history stream||Venture Capital Entrepreneur stream|
|Visa Cost||Starts from AUD 7.855||Starts from AUD 7.855|
|Things you must/ need to have||You must: ~ Be nominated by an Australian state or territory government ~ Be invited to apply for the visa ~ Have assets of AUD1.5 million and business turnover of AUD3 million||You must: ~ Have funding of at least AUD1 million from an Australian venture capital firm ~ Be nominated by an Australian state or territory government ~ Be invited to apply for the visa|
|Activities in Australia you can undertake||You can- Stay in Australia permanently work and study in Australia. |
Establish a new or develop an existing business in Australia.
Enroll in Medicare.
Travel to and from Australia for up to 5 years and include members of the family unit in your visa application if eligible, apply for Australian citizenship
- Is it essential to be nominated to avail of this visa?
Yes to avail of this visa, it is essential that you must be nominated by an Australian state or territory government before being invited to apply for this visa. Also, your nomination must not be withdrawn after you apply, or else your application may get rejected.
If you are nominated for this visa, you will get invited to apply for it.
2. What business acumen is required to apply for this visa?
To apply for Significant Business History Stream you must demonstrate:
- an overall successful business career
- a genuine desire to own and manage a business in Australia
To apply for the Venture Capital Entrepreneur stream you must:
- maintain direct and continuous involvement in the day to day management of the eligible business
- maintain a substantial ownership interest in your business or investment
3. Do I need to have functional English language proficiency?
Yes, all applicants and their family members, aged 18 years and above, must have at least functional English at the time of visa application.
To know about visa consultation, please consult a registered migration agent at Australian Visa Lawyers.