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Edit ContentFinancial requirments to New Busines
1) for subclass 132 visa, there are two steams, and each application need be qualified financially as per following
a) The Significant Business History stream is for affluent owners or part owners of a business who want to have a major management role in a new or existing business in Australia
i. have personal and business assets of AUD1.5 million (AUD400 000 must be net assets in the business), and have a business turnover of AUD3 million,
b) The Venture Capital Entrepreneur stream is for people who have obtained at least AUD1 million in funding from an Australian venture capital firm
i. you must have obtained at least AUD1 million in funding from an Australian Venture capital firm for the start-up, product commercialization or business development relating to a promising high value business idea.
2. Business Innovation and Investment (Provisional) (subclass 188) visa comes from two stream
a) The Business Innovation stream is for people who want to own and manage a new or existing business in Australia.
i. total assets of at least AUD800 000 that have been legally acquired and can be legally transferred to Australia within two years of the visa being granted
ii. a total annual turnover of at least AUD500 000 (in one of more of your businesses) in at least two of the four fiscal years immediately before you are invited to apply
iii. owned at least:
1. 51 per cent of a business with turnover of less than AUD400 000 per annum, or
2. 30 per cent of a business with turnover of more than AUD400 000 per annum, or
3. 10 per cent of a publicly-listed company
b) The Investor stream is for people who want to make a designated investment in an Australian state or territory and want to maintain business and investment activity in Australia after the original investment has matured.
i. have a net value of at least AUD2.25 million for the two fiscal years immediately before you are invited to apply
ii. make your government-approved designated investment of AUD1.5 million before a visa can be granted
iii. You (or your partner, or you and your partner combined) must also have had one of the following:
1. direct involvement, for at least one of the five fiscal years you are invited to apply, in managing your eligible investments that total at least AUD1.5 million, or
2. direct involvement, for at least one of the five fiscal years before you are invited to apply, in managing a qualifying business in which you owned at least 10 per cent of the total value of the business.
3. Business Innovation and Investment (Permanent) (subclass 888) visa The visa has two streams:
a) the Business Innovation stream is for people who own and manage a business in Australia If you are in the Business Innovation stream, you must have been in Australia and held your provisional visa for at least one year in the two years immediately before you apply. In addition, you (or your partner, or you and your partner combined) must:
i. have had and continue to have a direct and continuous management role in a main business (or two main businesses) in Australia for at least two years immediately before you apply
ii. have had a turnover, in that main business (or two main businesses), of at least AUD300 000 in the year immediately before you apply
iii. own at least one of the following percentages of that main business (or two main businesses):
1. 51 per cent of a business with a turnover of less than AUD400 000 per annum, or
2. 30 per cent of a business with a turnover of more than AUD400 000 per annum, or
3. 10 per cent of a publicly-listed company
iv. have obtained Australian Business Numbers for each of the relevant businesses
v. have submitted all relevant Business Activity Statements to the Australian Taxation Office
vi. not have acquired the ownership in your main business (or two main businesses) from a person who was an applicant for, or a holder of, a permanent Business Innovation and Investment visa (subclass 888), unless you and that person had a joint interest in the main business for at least one year before you lodge your application for this visa.
vii. You (or your partner, or you and your partner combined) must also meet two of the following criteria:
1. the net value of your assets in the main business (or two main businesses) in Australia is at least AUD200 000 throughout the year immediately before you apply
the net value of your personal and business assets in Australia has been at least AUD600 000 throughout the year immediately before you apply
2. you employed, in your main business (or two main businesses), throughout the year immediately before you apply, at least the equivalent of two full-time employees who are:
Australian citizens, or
Australian permanent residents, or
New Zealand passport holders, and
not your family members.
b) the Investor stream is for people who have a designated investment in an Australian state or territory and want to maintain business and/or investment activity in Australia after the original investment has matured.
i. If you are in the Investor stream, you must have been in Australia and held your provisional visa for at least two of the four years immediately before you apply.
ii. In addition, you (or your partner, or you and your partner combined) must have:
1. held a designated investment with an Australian state or territory for at least four years
2. a satisfactory record of complying with Australian laws, including those relating to taxation, superannuation, workplace relations and other laws relevant to your business
3. not been involved in unacceptable business or investment activities
4. A strong desire to continue your business and investment activity in Australia.
For the old class provision visa holder such as
a) Business Owner (Provisional) (Subclass 160)
b) Senior Executives (Provisional) (Subclass 161)
c) Investor (Provisional) (Subclass 162)
d) State/Territory Sponsored Business Owner (Provisional) (Subclass 163)
e) State/Territory Sponsored Senior Executive (Provisional) (Subclass 164)
f) State/Territory Sponsored Investor (Provisional) (Subclass 165)
Their are some transitional arrangements.