Australia’s Business Innovation and Investment Programme
Australia’s Business Innovation and Investment Programme is designed to encourage entrepreneurs and successful business owners to settle in Australia and contribute to Australia’s development through their business skills and abilities.
The Programme has been designed to attract entrepreneurial talents specializing in diverse business activities into the country. Migrants who have repeatedly enjoyed success in building businesses through investments and innovation are the primary target audience of this Programme.
Structure of Australia’s Business Innovation and Investment Programme
The Programme is made of up three visa categories.
- Business Innovation and Investment Provisional visa (Subclass 188)
- Business Innovation and Investment Permanent visa (Subclass 888)
- Business Talent Permanent visa (Subclass 132)
Business Innovation and Investment Provisional visa (Subclass 188)
This visa is designed for successful entrepreneurs, business innovators, and investors who want to invest, establish, and run a business in Australia. The visa has three streams.
- Business Innovation Stream
- Investor Stream
- Significant Investor Stream
The Programme is designed to facilitate permanent residence by encouraging the establishment and management of innovative businesses in Australia. Those holding provisional visa under the Business Innovation Stream or Significant Investor Stream can seek two-year extensions by as long as State or Territorial government nominates them for the same.
This visa is the first step towards qualifying for a Business Innovation and Investment Permanent visa (Subclass 888).
Business Innovation and Investment Permanent visa (Subclass 888)
This visa is a permanent residence visa. You and all your family members will, after being granted this visa, enjoy the right to:
- Stay indefinitely in Australia.
- Work and study in Australia.
- Seek enrollment in Australia’s health-care scheme—Medicare.
- Apply for Australian citizenship.
- Sponsor eligible relatives for permanent residence.
- Travel to and from Australia for a period of five years from the date of grant of visa. After five years, you will have to apply for a resident return visa or any other visa to return to Australia.