Business Skills Migration

From 1 July 2012, all intending migrants interested in the points based business investment and innovation visa programs will be required to submit an EOI and receive an invitation in order to lodge a visa application.

SkillSelect is an online service that enables skilled workers and business people interested in migrating to Australia to record their details to be considered for a skilled visa through an Expression of Interest (EOI).

Intending migrants can then be found and nominated for skilled visas by state and territory governments, or they may be invited by the Australian Government to lodge a visa application.

The business skills category is part of the Skill Stream of the Migration Program. The business skills category is designed to attract applicants to Australia who have the skills to enhance the Australian economy - by developing links with international markets; facilitating the creation or maintenance of employment in Australia; exporting Australian goods and services, manufacturing goods or providing services in Australia which would otherwise need to be imported; introducing new technology; and by increasing commercial activity and competitiveness.

The Business Skills visas are:

• Business Innovation and Investment (Provisional) (subclass 188) visa
• Business Innovation and Investment (Permanent) (subclass 888) visa - To apply for this visa you must hold a subclass 188
• Business Talent (Permanent) (subclass 132) visa

Business Innovation and Investment (Provisional) (subclass 188) visa

Requirements

Applications are by invitation only.

• lodge an Expression of Interest
• be nominated by a state or territory government
• be less than 55 years of age
• have a successful business and/or investment history
• have adequate personal and business assets
• score at least 65 points on the innovation points test.
  • age
  • English language ability
  • qualifications
  • experience in business or investments
  • net personal and business assets
  • business turnover
  • innovation

Business Innovation stream

If you apply for the Business Innovation stream, you (or your partner, or you and your partner combined) must have:

• total assets of at least AUD800 000 that have been legally acquired and can be legally transferred to Australia within two years of the visa being granted
• a total annual turnover of at least AUD500 000 (in one of more of your businesses) in at least two of the four fiscal years immediately before you are invited to apply
• owned at least:
  • 51 per cent of a business with turnover of less than AUD400 000 per annum, or
  • 30 per cent of a business with turnover of more than AUD400 000 per annum, or
  • 10 per cent of a publicly-listed company
• an overall successful business career with no involvement in unacceptable business activities
• managed a business, in which you spent less than half your time on professional, technical or trade services
• a genuine desire to own and maintain a management role in a business in Australia.

Investor stream

If you apply for the Investor stream, you (or your partner, or you and your partner combined) must:

• have a net value of at least AUD2.25 million for the two fiscal years immediately before you are invited to apply
• have an overall successful record of eligible investment or qualifying business activity with no involvement in unacceptable activities
• have a high level of management skill in relation to eligible investments and/or qualifying business activity
• have at least three years' experience of direct involvement in managing one or more qualifying businesses or eligible investments
• make your government-approved designated investment of AUD1.5 million before a visa can be granted
• have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured.

You (or your partner, or you and your partner combined) must also have had one of the following:

• direct involvement, for at least one of the five fiscal years you are invited to apply, in managing your eligible investments that total at least AUD1.5 million, or
• direct involvement, for at least one of the five fiscal years before you are invited to apply, in managing a qualifying business in which you owned at least 10 per cent of the total value of the business.

Business Innovation and Investment (Permanent) visa (subclass 888)

The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation and Investment visa (subclass 188). You can apply for it after you have fulfilled the requirements of your provisional visa.

You do not need to submit a new Expression of Interest to apply for this visa.

You can apply for a this visa if you:

• are the primary holder of a provisional Business Innovation and Investment visa (subclass 188)
• have met all the requirements of your provisional Business Innovation and Investment visa in the stream in which you first applied
• have not been involved in any unacceptable business or investment activities
• have a satisfactory record of complying with Australia laws
• have been nominated by an Australian state or territory
• you and all your family members meet health and character requirements - you do not need to prove this again if you have already met this requirement for the provisional Business Innovation and Investment visa (subclass 188)
• have a genuine commitment to continue to maintain business or investment activities in Australia

Other requirements depend on the stream in which you held your provisional Business Innovation and Investment visa (subclass 188).

Health requirements

As part of applying for your provisional Business Innovation and Investment visa (subclass 188), you and all members of your family unit must have met certain health requirements. Do not arrange a health examination unless the department asks you to do so.

Character requirements

You must meet certain character requirements. You must provide a police certificate from each country you have lived in for 12 months since you applied for your provisional Business Innovation and Investment visa. Do not arrange for other police certificates until the department asks you to.

This applies to you and all the dependent family members listed in your application, whether or not they are migrating with you.

If you are in the Business Innovation stream

If you are in the Business Innovation stream, you must have been in Australia and held your provisional visa for at least one year in the two years immediately before you apply.

In addition, you must be able to show ongoing business involvement, meet certain financial requirements, and have a history of employing Australian workers.

Ongoing business involvement

You must be able to show that you:

• have had and continue to have a direct and continuous management role in a main business (or two main businesses) in Australia for at least two years immediately before you apply
• have had a turnover, in that main business (or two main businesses), of at least AUD300 000 in the year immediately before you apply
• own at least one of the following percentages of that main business (or two main businesses):
  • 51 per cent of a business with a turnover of less than AUD400 000 per annum
  • 30 per cent of a business with a turnover of more than AUD400 000 per annum
  • 10 per cent of a publicly-listed company
• have obtained Australian Business Numbers for each of the relevant businesses
• have submitted all relevant Business Activity Statements to the Australian Taxation Office
• have not acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888) or a permanent business skills visa (in subclasses 890,891,892 or 893), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.

A required net value of assets and history of employment

You (or your partner, or you and your partner combined) must also meet two of the following criteria:

• the net value of your assets in the main business (or two main businesses) in Australia is at least AUD200 000 throughout the year immediately before you apply
• the net value of your personal and business assets in Australia has been at least AUD600 000 throughout the year immediately before you apply
• the main business (or two main businesses) must have employed, throughout the year immediately before you apply, at least the equivalent of two full-time employees who are:
  • Australian citizens, Australian permanent residents, or New Zealand passport holders
  • not your family members.

If you are in the Investor stream

If you are applying for this visa in the Investor stream, you must have been in Australia and held your provisional visa for at least two of the four years immediately before you apply.

In addition, you (or your partner, or you and your partner combined) must have:

• held a designated investment with an Australian state or territory for at least four years
• a satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business
• not been involved in unacceptable business or investment activities
• a strong commitment to continue your business and investment activity in Australia.

If you are in the Significant Investor stream

If you are applying for this visa in the Significant Investor stream, you must have been in Australia for a certain amount of time, as follows:

• Significant Investor stream - 160 days in the past four years
• Significant Investor Extension stream - 240 days in the past six years
• two provisional visas in the Significant Investor Extension stream - 320 days in the past eight years.

You can satisfy this residence requirement at any time while holding a Business Innovation and Investment (Provisional) visa (subclass 188).

In addition, you (or your partner, or you and your partner combined) must have:

• held complying investments as defined in your Business Innovation and Investment (Provisional) visa (subclass 188). You must have held those investments continuously in any proportion across the investment options for the life of your provisional visa
• a satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business
• not been involved in unacceptable business or investment activities
• a strong commitment to continue your business and investment activity in Australia.

Business Talent (Permanent) (subclass 132) visa

The Business Talent visa is part of the Australian Business Innovation and Investment Program , which seeks to expand the country's economy.

This visa is available by invitation only. Before being invited to apply, you must first submit an Expression of Interest through SkillSelect.

Your Expression of Interest must specify whether you are interested in the Significant Business History stream or the Venture Capital Entrepreneur stream. You must also indicate whether you are interested in just one or all states and territories. No supporting documentation is required at this time.

When your Expression of Interest is in SkillSelect, it can be viewed and a state or territory can decide whether to nominate you to apply for a visa. States and territories have their own criteria for deciding who they nominate. In most cases, and before you are nominated, the relevant state or territory may contact you to discuss business possibilities. You may also contact your preferred state or territory you have indicated in the Expression of Interest.

You can only lodge a visa application after having received a nominated by a state or territory and an invitation from the Australian Government.

The requirements that you must meet depend on whether you are interested in the Significant Business History stream or the Venture Capital Entrepreneur stream.

If you apply for the Significant Business History stream, you (or your partner, or you and your partner combined) must have all of the following:

• you must be less than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the relevant region
• net assets of at least AUD400 000 (in a qualifying business) in at least two of the four fiscal years immediately before you are invited to apply
• total assets of at least AUD1.5 million that can be legally transferred to Australia within two years of the visa being granted
• a total annual turnover of at least AUD3 million (in one or more of your main businesses) in at least two of the four fiscal years immediately before you are invited to apply
• ownership of at least:
  • 51 per cent of a business with turnover of less than AUD400 000 per annum, or
  • 30 per cent of a business with turnover of more than AUD400 000 per annum, or
  • 10 per cent of a publicly-listed company
• an overall successful business career with no involvement in unacceptable business activities
• a genuine desire to own and maintain a management role in a business in Australia.

If you apply for the Venture Capital Entrepreneur stream, you must have obtained at least AUD1 million in funding from an Australian Venture capital firm for the start-up, product commercialisation or business development relating to a promising high value business idea.

If you are invited to apply for a permanent Business Talent visa (subclass 132), you will then have 60 days in which to lodge your online application. You can be in or outside Australia when you lodge.

Your application is likely to require extensive supporting documentation, including records and evidence relating to your:

• work experience
• educational background
• English skills
• business and investment experience.

You are urged to start compiling these documents early in the process even before you lodge an Expression of Interest.

You can be invited twice. If, after the second invitation, you do not submit a complete application within the allowed timeframe, the offer will be withdrawn and your Expression of Interest will be deleted from SkillSelect. If you want to be considered in future, you will need to submit a new Expression of Interest.

Source: Department of Immigration & Border Patrol (DIBP)

Disclaimer: All information outlined under this section titled "VISAS" is simply an overview of the various visas available under the migration act. The outlined information can be used as a reference point but cannot be relied upon by individuals to determine whether or not they qualify.

The Australian Migration regulations, change on a constant basis, and therefore to attain up-to-date legislative requirements you need to contact us to ensure that;

• You qualify under your selected visa subclass; and
• Most importantly that the selected subclass is the most appropriate visa for your specific needs