The following general information relates to the Business Innovation and Investment program.
Australia has for many decades encouraged and welcomed as migrants, those who have proven entrepreneurial skills. This is because they benefit Australia in so many respects such as developing international markets, creating employment, introducing new or improved technology and increasing competitiveness within sectors of the Australian economy.
Most business skills migrants initially enter Australia on a provisional (temporary) visa for 4 years. They may be Business Owners, Senior Executives or Investors. The objective for such migrants is to obtain a permanent visa which confers permanent residency status.
Permanent Residency Status can only be achieved if the migrant becomes involved in genuine business and /or investment activity. This will usually require the business migrant to take an equity position in an established business and remain involved in the daily management of the business or control of their investment activity. So the business migrant must use the term of the 4yr temporary visa to obtain an ownership interest in a business in Australia or maintain their investment in Australia for two years. If they fail to meet this requirement they will not be eligible to apply for a Business Skills Permanent (Residence) visa and may have to leave Australia.
Most Business Consultants act on behalf of the business owners who pay their fee so there is no fee to the buyer, please read on to see how your costs are minimised through this method.
- To be eligible for GSM Business Migration:
- Have passed the normal criteria for entry into Australia
- Able to prove that can bring into Australia a minimum of $780.000
- Support themselves any family members they bring into Australia for Two years without government welfare support.
- Be willing to buy a business.
- Prove they have, for a period not less than four years, owned, operated or manage a similar business they intend to buy in Australia.
- Skilled Sponsored (permanent) category the skilled applicant must agree to live and work in a low population growth metropolitan or regional area of Australia
Our referring consultants turn down many of the businesses they are asked to list, either because the seller won’t provide full financial disclosures, because the business is overpriced or a myriad of other reasons.
If your dream is to live in Australia, then the Australian Immigration eBooks are your passport to success!
Avoid Migration Pitfalls
Going through an accredited referring business
consultant to Migrate to Australia helps you avoid bad risks.
Negotiating. The negotiating process is really when our referring business consultants really earn their keep. These business consultants are experts in assisting both parties stay focused on the ultimate goal and smooth over any problems that may arise during the process.
Assisting with paperwork. Your local business consultant knows the latest legal and regulatory requirements that can affect everything from licenses and permits and business contracts. They also know the most efficient ways to cut through red tape, which can slash months off the purchase process. Working with your referring business consultant reduces the risk that you’ll overlook some crucial form, fee or step in the sale or contract process.
Working with your business consultant highlights many good reasons why buying an existing business could be a good business decision for you.
Remember though, that you will be taking on the legacy of the previous business owner, and you need to be aware of every aspect of the business you’re about to buy.
Your business consultant is bound by a Code of Conduct giving you the security of knowing that they have a “duty of care” to all parties.
Some of the advantages of buying an Existing Pre Qualified business are:
- Much of the groundwork to get the business up and running will have been done.
- A market for the product or service will have already been demonstrated.
- There may be established customers, a reliable income, a reputation to capitalise and build on and a useful network of contacts.
- A business plan and marketing method should already be in place.
- Existing employees should have experience you can draw on.
- Many of the problems will have been discovered and solved already.
The various States and Territories of Australia have a large role to play in this area of migration in terms of sponsorship. Nearly 96% of Business Skills migrants are State sponsored. This is because States and Territories are keen to attract certain types of businesses or investment activity into their economies.
Concessional criteria will apply to business migrants who are granted State or Territory sponsorship.
From the Australian Government Department of Immigration Border Protection Migration Programme Report
The total migration programme outcome for 2016-17 was 183,608 places. The major source countries were India, China and the United Kingdom.
The States/territories that attracted the largest number of migrants were;
NSW 61,470 | VIC 47,549 | QLD 21,519 | WA 18,908
Although the number of migrants has continued to grow each and every year over the 10 years to 2017 ( from under 120,000 to around 183,000, the intended state of residence trend for total migration has changed as listed below.
NSW increased from 32.5% to 33.5%
VIC Increased from 25% to 25.9%
QLD Increased from 11.5% to 11.7%
WA fell from 11.9% to 10.3%
The fact that there are more businesses in some states compared to others should be taken into account.
Demand for places in the skilled migration programme increased by over 18,000 applications in the year ending 2017 June and at that time there was over 88,600 enquiries still remaining in the pipeline.
More Information is available from the Australian Government Department of Immigration and Border Protection
Business Innovation and Investment (Provisional) visa (subclass 188)
This visa allows you to:
- own and manage a business in Australia (the Business Innovation stream)
- conduct business and investment activity in Australia (the Investor stream, the Significant Investor stream and the Premium Investor stream).
- undertake an entrepreneurial activity in Australia (Entrepreneur stream).
Business Innovation & Investment (Provisional) Visa
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia. Applicants must be nominated by a state or territory government.
- Investor stream: for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government.
- Significant Investor stream: for people who are willing to invest at least AUD5million into complying significant investments in Australia and want to maintain business and investment activity in Australia. Applicants can be nominated by a state or territory government or Austrade on behalf of the Australian government.
- Premium Investor stream: for people who are willing to invest at least AUD15million into complying premium investments in Australia and want to maintain business and investment activity in Australia. Applicants must be nominated by Austrade on behalf of the Australian government.
for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity that is proposed to lead to either the commercialisation of a product or service in Australia or the development of a business in Australia. Applicants must be nominated by a state or territory government.
What This Visa Lets You Do
- establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government, make and maintain complying investments in Australia or participate in a complying entrepreneurial activity in Australia
- travel in and out of Australia for the life of your visa
- bring family members with you to Australia
- seek permanent residence by applying for a
Business Innovation and Investment (Permanent) visa (subclass 888)
This visa allows you to:
- continue to own and manage a business in Australia (the Business Innovation stream)
- continue business and investment activity in Australia (the Investor stream, the Significant Investor stream and the Premium Investor stream)
- continue entrepreneurial activity in Australia (Entrepreneur stream).
Business Innovation and Investment (Permanent) visa
The Business Innovation and Investment (Permanent) visa (subclass 888) is the second stage of the Business Innovation and Investment (Provisional) visa (subclass 188).
You can apply for it after you have fulfilled the requirements of your provisional visa.
You do not need to submit a new Expression of Interest or be invited to apply for this visa. You need to be nominated by a state or territory government agency or Austrade on behalf of the Australian government if you are seeking to satisfy the primary criteria.
If you are the holder of a provisional Business Innovation and Investment visa (subclass 188) you should provide evidence that the government entity which nominated you for that visa has not withdrawn the nomination.
If you are the holder of a Special Category visa (subclass 444), or require nomination from a different nominator than your provisional Business Innovation and Investment visa (subclass 188) you are required to obtain nomination from a state or territory or Austrade on behalf of the Australian government before you lodge an application for this visa.
Australian Immigration Law and Policy is subject to constant change. While every effort is made to ensure information on this site is current and accurate, this cannot be guaranteed. The information is provided as general guidance only and no responsibility will be accepted for any adverse consequence which may arise from any action taken on the basis of material provided in this site, regardless as to any possible error or omission. It is recommended that any and all information be verified by a registered migration agent or The Australian Department of Immigration and Multicultural Affairs
Noel Currie from Online Business Sales Australia 0418741814