AUSTRALIA
AUSTRALIA
GDP
POPULATION 23,150,000
Population Growth: 1.8%
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GDP (per capita) 67,400 USD
GDP (purchasing power parity)
1.56 Trillion USD (2013)
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VISA FREE COUNTRIES: 169
LOCATION
Southern Asia
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CAPITAL
Canberra
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TIME DIFFERENCE
UTC+10
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TOTAL AREA
7,682,300 sq. km
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AGE DEMOGRAPHICS
0–14 years – 18%
15–24 years – 13.3% 2
5–54 years – 41.8%
55–64 years – 11.8%
65 years and over – 15.1%
LANGUAGES SPOKEN
English (official), local dialects
RELIGIONS PRACTICED
61.1% of Christian: 25.3% Catholic and 17.1% as Anglican. 7.2% Non-Christianristian religions.
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GOVERNMENT TYPE
Constitutional monarchy with a representative democracy.
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CURRENCY
Australian Dollars (AUD)
EXCHANGE RATE
1 USD = 1.3877 AUD (2016)
Australia
A number of visa options are available for investors and entrepreneurs seeking business opportunities in Australia. Visas issued will first be temporary, which can then be used to apply for permanent visas upon meeting the relevant requirements. There are five streams under the Business Innovation and Investment Visa (Subclass 188), and two streams under the Business Talent Visa (Subclass 132), providing numerous options for individuals to choose from.
Why Australia?
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“There’s an expression in Australia that’s called ‘Go Bush,’ which means to get out of the city and relax. I try and ‘go bush’ to places where there’s no cell reception. But, I don’t get to do that often, so for the most part, it’s just a state of mind.” – Cate Blanchett
Australia is a highly sought after location for foreigners to permanently reside in, due to its strong and stable economic infrastructure, attractive working conditions and high standard of living. Considered as a financial hub with an advanced financial and telecommunications system, Australia is a popular location for foreign investors to set up their businesses.
Business Innovation and Investment (provisional) Visa (Subclass 188)
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All individuals applying for this provisional visa regardless of the stream chosen will have to be nominated by an Australian State government agency before proceeding on the application. Five streams are available to obtain the provisional visa.​
Benefits
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Stay in Australia indefinitely
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Work and study in Australia
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Eligible for whole family
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Provide options under different streams
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Allows dual nationality
Eligibility
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Must be nominated by an Australian State or Territory government agency
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Must not have a history involvement in unacceptable activities
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Must meet the health requirement
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Must meet the character requirement
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Must sign the Australian values statement
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Must have no debt to the Australian government
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Must not have had a visa cancelled or a previous application refused
Business Innovation and Investment (provisional) Visa (Subclass 188)
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All individuals applying for this provisional visa regardless of the stream chosen will have to be nominated by an Australian State government agency before proceeding on the application. Five streams are available to obtain the provisional visa.
Business Innovation Stream
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The provisional visa under the business innovation stream allows applicants with business skills to operate a new or existing business in Australia.
Nominated individuals must have total net business and personal assets of at least AUD800,000 for the establishment of business in Australia within 2 years following the grant of visa. One or two of the business(es) held by the applicant should have a turnover of at least AUD500,000 for 2 out of 4 fiscal years immediately before visa application.
Additionally, applicants have to be under 55, score at least 65 points on the points test and fulfil other eligibility requirements as prescribed by the Australian Government.
After holding the provisional visa under the innovation stream for 3 years, individuals can extend their stay in Australia for 2 more years by applying under the Business Innovation Extension Stream, given the commitments towards the business and other eligibility requirements continue to be maintained.
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Investor Stream
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The provisional visa under the investor stream allows applicants to carry out business and investment activities in Australia.
To be eligible, nominated individuals will need to own and manage business, personal assets and investments according to the following requirements:
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Manage a qualifying business or eligible investments with value of at least AUD1.5 million
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Possess business and personal assets of AUD2.25 million
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Make an investment of AUD1.5 million in the nominating state
Further, applicants must have at least 3 years of experience in managing a qualifying business or eligible investment and have a successful record.
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Other eligibility requirements under the investor stream would be the same as that under the business innovation stream aforementioned.
Significant Investor Stream
This provisional visa targets applicants who can invest at least AUD5 million in Australian qualifying investments and maintain investment activities in Australia.
For this visa to be granted, applicants must make a significant investment of at least AUD5 million with a genuine intention to hold that investment for at least 4 years according to the following proportions:
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At least AUD500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
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At least AUD1.5 million in approved managed funds investing in Australian-listed companies
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A ‘balancing investment’ of at least AUD3 million in managed funds
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Unlike the two streams above, there is no age limit nor points test requirements under the current stream, save for the general English language, health and character requirements necessary for all visa types.
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Similarly, holders of provisional visa under the significant investor stream can also apply for any extension of their stay in Australia for up to 4 more years, under the Significant Investor Extension Stream, provided that the significant investment held are still in compliance with the investment framework as prescribed.
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Premium Investor Stream
This provisional visa is for individuals nominated by Austrade who invest at least AUD15 million in Australian investments and/or philanthropic contributions.
Individuals applying under this stream shall first possess net assets of at least AUD15 million, so that they can make a complying premium investment of at least AUD15 million in qualifying investments.
Entrepreneur Stream
This provisional visa allows nominated individuals to carry out entrepreneurial activities in Australia.
A complying entrepreneur activity that will lead to the commercialization of a product or service, or the development of an enterprise or business in Australia should be taken. This activity must not be related to residential real estate, labour hire nor purchase of existing enterprise/franchise in Australia.
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Individuals must also receive funding with a total of at least AUD200,000 from an approved entity.
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No matter which stream an investor decides to take, a visa will entitle the investor to stay in Australia for up to 4 years and 3 months to carry out its business, investment or entrepreneurial activities. Within all provisional visa streams, provisional visas granted under the Business Innovation Stream and Significant Investor Scheme can be extended for 2 years and 4 years respectively.
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Alternatively, investors can choose to apply for permanent residence through the Business Innovation and Investment (Permanent) Visa (Subclass 888) if relevant requirements are met.
Business Innovation and Investment (provisional) Visa (Subclass 188)
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All individuals applying for this provisional visa regardless of the stream chosen will have to be nominated by an Australian State government agency before proceeding on the application. Five streams are available to obtain the provisional visa.
Significant Investor Stream
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To obtain permanent visa under the Significant Investor Stream, the significant amount invested previously at AUD5 million shall be held for the whole period during which the investor held his provisional visa.
Premium Investor Stream
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Two requirements have to be satisfied to receive a permanent visa under the Premium Investor Stream. First, the investor should hold the provisional visa for a continuous period of at least 12 months. Additionally, the AUD15 million investment made shall be held for the whole time during which the investor holds his provisional visa.
Entrepreneur Stream
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To continue entrepreneurial activities in Australia indefinitely, the entrepreneur should have a successful record of entrepreneurial activities, which will be assessed based on a number of success factors as set by the Australian authorities. Entrepreneurs will have to show either 2 key success factors or 1 key success factor and 3 supporting success factors as listed below:
Key Success Factors Include:
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employing 2 or more Australians, permanent residents or other eligible persons
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generating an annual turnover of at least AUD300, 000
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filing a provisional patent or acquiring a standard or innovation patent
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receiving ongoing funding or investment in your entrepreneur activity
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entering into a partnership with a university
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selling an entrepreneurial venture for AUD2 million
Supporting Success Factors Include:
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adapting entrepreneurial activities into other business areas
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receiving a statement of success from a state or territory government nominator
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receiving sponsorship from the corporate sector
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starting at least 1 other business or contributing to at least 2 other businesses
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receiving formal awards or recognition
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raising or contributing to social capital
Apart from the requirements specific to various streams during permanent visa application, general eligibility requirements applicable to all streams should also be fulfilled. These include but are not limited to: meeting the residence requirements, language, health and character requirements, as well as the Australian laws.
Business Talent (Permanent) Visa (Subclass 132)
This is a permanent visa which allows individuals to establish a new or develop an existing business in Australia. Two streams are available targeting different groups of individuals.
Significant Business History Stream
This stream is designated for experienced business owners, to operate a new or existing business in Australia.
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Possess a total net assets of at least AUD1.5 million
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Have an annual business turnover of at least AUD3 million in one or two businesses for at least 2 of the 4 fiscal years immediately before invitation to apply
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Possess a total net assets of at least AUD400,000 from the ownership interest in one or more qualifying businesses for at least 2 of the 4 fiscal years immediately before invitation to apply
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Venture Capital Entrepreneur Stream
This stream is aimed at people who have sourced venture capital funding from a member of the Australian Investment Council (AIC). Individuals must secure at least AUD1 million funding from an Australian venture capital firm, with the firm being a member of the AIC.
Business Talent Visa granted under both streams will be valid permanently. Holders could therefore stay in Australia indefinitely to conduct their business or investment activities.