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This is a permanent visa that allows recipients to establish a new business or develop an existing business in Australia and become permanent residents once the visa is granted. There are 2 streams under this subclass-

Significant Business History Stream

This visa allows experienced business owners to operate a new or existing business in Australia, while also allowing them and their family members to stay in Australia permanently. To be eligible to apply under this subclass, applicants must meet the following criteria-

 

  • Be nominated by an Australian state or territory government agency
  • Have business acumen and ambition
  • Own a substantial part of the business
  • Have total net assets worth AUD1.5 million or more
  • Have annual turnover of AUD3 million or more
  • Have total net assets worth AUD400,000 or more
  • Have functional English language
  • Be younger than 55 years, unless exceptional circumstances apply

Venture Capital Entrepreneur stream

This visa is for people who have sourced venture capital funding from a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)). The visa lets you operate a new or existing business in Australia, while also allowing you and your family to stay in Australia permanently. To be eligible to apply under this subclass, applicants must meet the following criteria-

 

  • Be nominated by an Australian state or territory government agency
  • Have business acumen and ambition
  • Meet the stated venture capital requirement (at least AUD1 million)
  • Have functional English language

 

For more information about these streams, please do not hesitate to contact us.