Residency and Family Inclusion
Ability to bring eligible dependents:
- Spouse or de facto partner.
- Dependent children under 18.
- Dependent children between 18-23 years old.
Travel and Quality of Life
- Ability to work, live or study in Australia.
- Safe living environment and one of the highest standard of living in the world.
- High standard education and healthcare system.
Requirements and Taxation
- No English requirement.
- Secure investment through government bonds.
- Pathway to Citizenship:
- Provisional > Permanent > Citizenship.
- Investment of at least AUD 2.5 million in an Australian State or Territory for at least 5 years.
- Have business and personal net assets of at least AUD 2.5 million, owned by the applicant and/or spouse, in the 2 fiscal years preceding the filing date with evidence.
- Have at least 3 years’ experience managing one or more qualifying businesses or eligible investments.
- Be under 55 years of age (exemption can apply).
- Score at least 65 on the points test.
- You and all family members included in the application must meet Australian health and character requirements.
- Have a genuine intention to live for at least 2 years in the state or territory in which you have made a designated investment.
- In at least 1 out of the 5 fiscal years prior to submission, the applicant and/or spouse have:
- managed a qualifying business which the applicant holds at least 10% ownership interest; or
- managed ‘eligible investments’ of at least AUD 1.5 million.
Venture Capital and Managed Funds
Make a complying significant investment in the following proportions and have a genuine intention to hold that investment for the duration of the visa:
- At least AUD 500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies.
- At least AUD 750,000 in approved managed funds investing in emerging companies listed on the Australian Stock Exchange.
- A ‘balancing investment’ of at least AUD 1.5 million in managed funds that may invest in a range of assets.
The investment must be held for at least 5 years from the date of its issue in the nominating State or Territory.
The investment may be changed, but if withdrawn, the visa will be cancelled.
Due Diligence and Application
- Initial background & eligibility checks.
- Submission of an Expression of Interest (EOI) via “Skill Select” online service to be nominated by a State or Territory Government, or Austrade.
- Upon receiving a nomination from a State or Territory government and an invitation to apply, submission of an online visa application within 60 calendar days.
Approval and Investment
- Upon receiving the approval-in-principal of the visa application, the investor will be advised when to make the complying investment.
- Upon making the complying investment, the temporary visa will be issued.
- The visa has a duration of up to 5 years (and can be extended up to 9 years) with a minimum requirement for physical residency in Australia.
Citizenship and Passport
Applicants may apply for citizenship after 5 years.
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With 30 years of immigration experience, each of Harvey Law Group’s lawyers carefully studies each client’s needs, resources and determines the immigration solution that best aligns with our client’s vision and values.
Frequently Asked Questions
Business professionals who have managed investments or owned a business and who want to invest AUD 2.5 million in an Australia State or Territory Government bonds for 5 years.
For investors who:
- Have business and personal net assets of at least AUD 2.5 million for the last 2 fiscal years immediately before being invited to apply.
- Are able to make an investment of at least AUD 2.5 million.
- Under the age of 55.
- Have managed a qualifying business or investments to the value of at least AUD1.5million and at least 3 years’ experience managing such a business or eligible investment.
- Score at least 65 on the points test.
- Applicants need 95 points rather than 65 points to apply.
- Applicant and dependents must establish a residence and reside in the State of Victoria;
- Make an additional investment of at least AUD 500,000 in Victoria during the provisional period and must be held for no less than 24 consecutive months immediately proceeding the nomination application and directed into Victorian-based venture capital funds;
- Cannot swap being primary applicant status with your spouse if bonds were not jointly held.
- If the applicant wishes to apply for permanent residence following the visa grant, the applicant must hold its investment for no less than 12 consecutive months immediately preceding permanent residence application.
- English language ability.
- Business experience.
- Net personal and business assets.
- Business turnover.
- Special endorsement.
The Applicant can include their spouse and dependent children to the application.
Dependent children are defined as the Applicant’s child, or their partner’s child, who is not engaged, married or in a de facto relationship and is:
- aged under 18 years, or
- aged 18 to 23 years and dependent on the Applicant or the Applicant’s partner, or
- aged 23 years or older and dependent on the Applicant or the Applicant’s partner due to a partial or total physical or mental disability.
Applications must submit an Expression of Interest (EOI) and be nominated by a State or Territory Government. After submission of EOI and nomination from a State or Territory government, the Applicant will have 60 days to lodge the visa application through and then if the application is accepted the Applicant will be advised when to make the investment after which the visa will be issued.
- The Applicant and his accompanying family members must be in good health.
- The Applicant and family need to provide police certificates from each country they have lived in for 12 months or more over the past 10 years after they turned 16 years of age. All family members are required to provide this even if they are not migrating.
No. If the Applicant and family members are not able to demonstrate functional English (i.e. score 4.5 on the IELTS test), an additional fee is payable.
The Business Innovation and Investment Visa is a 2-stage process to obtain residency. The visa holder will first need to obtain a provisional visa (subclass 188) (i.e. a temporary residence visa) for 5 years. After complying with the necessary business and/or investment requirements, the visa holder may apply for a permanent residence visa (subclass 888).
Yes. The onus is on the Applicant to provide relevant and reliable documentation to evidence how they accrued their funds.
The Applicant is only required to make the investment after submission and successful application and a request letter for the investment has been sent.
The investment must be made from unencumbered funds generated from qualifying businesses or eligible investments. Investment funds may not come from loans.
Subclass 188b visa holders must have lived in Australia for at least 2 of the 4 years immediately before he/she apply for subclass 888b permanent residence visas.
The visa is valid for up to five years from the date it is granted.
No, this is a provision visa. You must apply for a new visa if you want to stay longer. An extension is only available for the 188a (Business Innovation Stream) and 188c (Significant Investor Stream).
It is approximately 27-33 months.