If you want to start a business in Australia and want to get benefited from growing progressive economy of Australia, you need to apply for business visas. You can start a new business in Australia even if you don’t have a Permanent Residence or citizen status. You need to know which visa category to apply for and complete the application process to get started.
If you have a running business or hobby, you can register your business and get an ABN which is Australian Business Number (ABN). So, define a clear business plan by setting appropriate goal, track your progress, sell your business idea to others and know what to do when things don’t work as planned.
Different Visa categories for Business visas are:
Business Talent visa is for business professionals who dream of establishing a new business or expanding an existing business in Australia. It has two streams:
- Significant Business History Stream: This is for established business owners or part-owners willing to do business in Australia.
- Venture Capital Entrepreneur Stream This is for people who have contacts with venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
This visa allows you to apply for Permanent Residence in Australia for applicants who are nominated by an Australian state or territory government agency. This visa can be applied though online SkillSelect system and for the same you need to submit an Expression of Interest (EOI).
Business Innovation and Investment (Provisional) visa is for experienced business professionals who want to own and manage a business in Australia. This visa has following five streams:
- Business Innovation Stream: Experienced business professionals, who have the right business skills to establish, develop and manage a new or existing business in Australia can apply under this stream. It is important to be nominated by state or territory government in order to apply for this visa.
- Investor Stream: Investors interested in investing in lucrative business investment of at least AUD 1.5 million in an Australian state or Territory can apply for this visa. The applicant must be nominated by state or territory government and must maintain business and investment activity in Australia.
- Significant Investor Stream: This is for Investors who are seeking to invest about AUD 5 million into significant investments in Australia and want to maintain business activity in Australia. The applicant must maintain the business and investment activity and must be nominated by a state or territory or Austrade on behalf of Australian government.
- Premium Investor Stream: Established and Experienced Investors who want to invest at least AUD 15 million into complying premium business activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government and must maintain business and investment activity in Australia.
- Entrepreneur Stream:
- Entrepreneurs who have funding agreements from third party of at least AUD 200 000 to undertake a complying entrepreneur activity in Australia.
- The applicants must engage in either commercialization of product or services or in the development of a business in Australia. It is important for applicants to be nominated by a state or territory government.
- Business Innovation and Investment visa under Subclass 888:
A business professional who already holds a visa under the Provisional Business Innovation and Investment visa (subclass 188) or a Special Category visa (Subclass 444) and now wants to continue the business and investment activity can apply for this visa. This visa allows applicants to apply for Permanent Residence.
This visa allows business professionals to do one of the following activities:
- You can continue to own and manage a business in Australia under the Business Innovation stream.
- You hold a visa under Significant Investor stream and you can continue business and investment activity.
- If you hold a visa under Entrepreneur stream, you can continue entrepreneurial activity in Australia.
Business Owner Visa under Subclass 890:
- A Business Owner visa under subclass 890 is for ambitious and enterprising business owners who are experienced in managing business in Australia. This is a permanent residence visa which allows you and your family to live, work or stay in Australia indefinitely and enroll in Medicare health benefits.
- This visa allows investors holding Investor Provisional (Subclass 162) visa and has maintained a designated investment of AUD1, 500,000 for four years to apply for Australian PR. This is a permanent residence visa, which allows you and your family to live, work or stays in Australia indefinitely and enroll in Medicare health benefits.