132 Features

This visa allows you to establish a new or develop an existing business in Australia. It has two streams:

• Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia
• Venture Capital Entrepreneur stream: for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).​

132 Eligibility

You must:

• be nominated by a state or territory government agency
• be invited to apply for the visa
• have assets of AUD 1.5 million and business turnover of AUD 3 million (Significant Business History stream) or
• have funding of at least AUD 1 million from an Australian venture capital firm (Venture Capital Entrepreneur stream).

188A Eligibility

You must:
• be under 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 nominating state or territory.
• score at least 65 on the points test.
• for two out of the four fiscal years immediately before you are invited to apply, have had an ownership interest in an established business or businesses that had at least AUD500000 turnover in each of those years
• own at least one of the following percentage of your nominated main business:
  • 51 per cent, if the business has a turnover of less than AUD400 000 per year
  • 30 per cent, if the business has a turnover of AUD400 000 or more per year
  • 10 per cent, if the business is a publicly listed company
• have an overall successful business career
• have a genuine desire to continuously own and maintain a management role in a business in Australia.

If your nominated main business provides professional, technical or trade services, you must have spent no more than half your time providing those services, as opposed to general management of the business.

At the time of invitation, you, your partner, or you and your partner combined must have total net business and personal assets of at least AUD800 000 that are lawfully acquired and available for legal transfer to Australia within two years of the visa being granted.

You and your partner must have had no involvement in unacceptable business or investment activities.

188B Eligibility

You must:
• be under 55 years of age, although a state or territory can waive this requirement if your proposed investment will be of exceptional economic benefit to the nominating state or territory
• score at least 65 on the points test.
• have a high level of management skill in relation to the eligible investment or qualifying business activity
• have at least three years’ experience of direct involvement in managing one or more qualifying businesses or eligible investments
• have an overall successful record of eligible investment or qualifying business activity
• have a genuine and realistic commitment to continuing your business and investment activity in Australia after the original investment has matured
• have a genuine intention to live for at least two years in the state or territory in which you have made a designated investment.

You, your partner, or you and your partner combined must:

• for at least one of the five fiscal years immediately before you are invited to apply, have directly managed one of the following:
  • a qualifying business in which you, your partner or you and your partner combined had at least 10 per cent ownership interest, or
  • eligible investments owned by you, your partner or you and your partner combined of at least AUD1.5million.
• during the two fiscal years immediately before you are invited to apply, have legally acquired net business, investment and personal assets of at least AUD2.25 million that are available for legal transfer to Australia within two years of the visa being granted
• make a designated investment of at least AUD1.5 million in a state or territory government security using unencumbered funds accumulated from qualifying businesses or eligible investments and be prepared to hold that investment for at least four years from date of issue in your nominating state or territory
• have had no involvement in unacceptable activities.

188C Eligibility

You must have a genuine and realistic commitment to:
• reside in the state or territory whose government agency nominated you,
• continue your business and investment activity in Australia after the conclusion of your provisional visa,
• live in Australia for at least 40 days per year (calculated cumulatively) for the duration of your provisional visa, or your spouse to live for at least 180 days per year (calculated cumulatively) for the duration of your provisional visa.

You, your partner, or you and your partner combined must have net assets of at least AUD5 million that are legally acquired, unencumbered, and available to be used to make the complying investment in Australia.

You and your partner must not have been involved in unacceptable business or investment activities.