Business Skills Visas
The Business skills visa encourages successful business owners who are keen on establishing or purchasing a business within Australia, to be able to live and work there.
Since 1 July 2012, business skilled applicants* are required to meet the passing mark of 65 points under the Skill Select program. Points are awarded for age, English ability, qualifications, experience in business or investment, net personal and business assets, business turnover and innovation.
Business skills visa now comprises of three visa subclass categories:
*except for visa subclass 188c & subclass 132a
This visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream or the Business Innovation Extension stream, or holders of a subclass 444 (Special Category) visa, or certain holders of a subclass 457 (Business Long Stay) visa, gain a permenant residence.
* 2 of the 3
Is suitable for affluent owners or part owners who want to have a major management role in a new or existing business in Australia, or for people who have obtained at least AUD1 million in funding from an Australian venture capital firm. A nomination from an Australian state or territory government is required for this visa.
Visa contains two streams:
The Significant Business History stream
The significant business history stream is intended for high calibre business people who are owners or part owners of an overseas business and have a genuine and realistic commitment to participate in the management of a new existing business in Australia.
The Venture Capital Entrepreneur stream
The venture capital entrepreneur stream is intended for migrant entrepreneurs who have sourced at least AUD 1 million for early phase start-up, commercialisation of a product, or business development and expansion.