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As with General Skilled Migration (GSM), under the new Business Innovation and Investment Program (from 1 July 2012) there is no Points Test for the Business Innovation and Investment (Provisional) (subclass 188) visa.
Applicants must meet criteria which generally relate to:
- English language ability
- experience in business or investments
- net personal and business assets
- business turnover
You can apply outside Australia or in Australia, but you must lodge your application through SkillSelect.
After you have been granted a visa in the
High-calibre business migrants sponsored by State/Territory governments may be able to apply for a direct permanent Business Talent (Migrant) residence visa. In order to be assessed as a high-calibre business person, you must be under 55 years of age, you need to be a business owner of an enterprise with an annual turnover of at least AU$3 million, have net business assets of at least AU$400,000 and have AU$1.5 million available for transfer to Australia to set up your business.
The pathways to permanent residence give clarity and certainty to provisional business migrants who must establish and manage a genuine business activity in Australia within the validity of their provisional visa.
The Business Talent (Migrant) and the Business Skills (Residence) visas are permanent visas allowing permanent stay in Australia with a resident return facility valid for 5 years from the date of grant.