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Queensland Migration - What are the requirements for Australian business visa in 2021?
Immigration News
Business Migration Program is currently open.
Business Innovation and Investment (Provisional) visa (Subclass 188) allows you to own and manage a business in Queensland, conduct business and investment activity in Queensland, or undertake an entrepreneurial activity in Queensland.
Migration Queensland nominates for four streams of this visa.
The program will remain open until the quota has been filled.
Business Innovation and Investment (Provisional) visa (subclass 188)
The Business Innovation and Investment (Provisional) visa (subclass 188) visa is a state-nominated five-year provisional visa and a pathway to the Business Innovation and Investment (Permanent) visa (subclass 888).
Please see below for Queensland eligibility criteria on each subclass 188 visa streams:
- 188 – Business Innovation
- 188 – Investor
- 188 – Significant Investor
- 188 – Entrepreneur – not yet open, criteria to be advised in coming months.
For further information on how to apply for a 188 extension, 888 or 405 renewal visa please contact No Borders Law Group. It is possible to apply for a 188 extension, 888 or 405 renewal visa as soon as you are eligible (ie the program never closes for these visas).
188 – Business Innovation stream
Queensland welcomes migrants interested in owning and managing a new or existing business in Queensland.
This visa is a state-nominated 5-year provisional visa. It is a stream of the Business Innovation and Investment (Provisional) visa (subclass 188) and a pathway to permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888).
State nomination for this visa is managed by the Queensland Government, through Migration Queensland, in collaboration with the Australian Government’s Department of Home Affairs.
Eligibility criteria - Business Innovation stream
To be considered for Queensland state nomination, you must meet the Migration Queensland criteria below, which is different for each visa stream.
Business Innovation stream
- Must demonstrate a genuine commitment to Queensland.
- Must have net business and personal assets of at least A$1.25 million ready to be transferred to Queensland within 3 years of being granted visa.
- Must invest in one or two qualifying business(es) in Queensland after being granted visa:
- business investment of at least A$400,000 if the proposed business will be established in the Greater Brisbane and Gold Coast regions; OR
- business investment of at least A$300,000 if the proposed business will be established in regional Queensland.
Additional Requirements
- Export business must develop international markets for Queensland products.
- General importing business will not be acceptable unless the imported products are highly innovative, advanced in technology, or currently unavailable in Queensland. You should also provide value-adding service to the imported products such as customised design, product assembly installation, testing, repair, maintenance, etc.
- Property Development business will not be accepted.
188 – Investor stream
Queensland welcomes migrants looking to invest in complying investment funds.
This is a state-nominated 5-year provisional visa. It is a stream of the Business Innovation and Investment (Provisional) visa (subclass 188) and a pathway to permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888).
State nomination for this visa is managed by the Queensland Government, through Migration Queensland, in collaboration with the Australian Government’s Department of Home Affairs.
Eligibility criteria - Investor stream
To be considered for Queensland state nomination, you must meet the Migration Queensland criteria below, which is different for each visa stream.
Investor stream
- Must demonstrate a genuine commitment to Queensland.
- Must have net business and personal assets of at least A$3 million ready to be transferred to Queensland, Australia (including A$2.5 million for Complying Investment and A$500,000 for Settlement in Queensland).
Complying Investment Framework (CIF)
- 20% in Venture Capital & Growth Private Equity funds (VCPE) that invest in start-ups and small private companies.
- 30% in approved managed funds that must invest in emerging companies listed on the Australian Stock Exchange.
- 50% in balancing investments of managed funds.
- After holding this provisional visa for 3 years, you may be eligible to apply for the permanent residency (subclass 888 visa). The 188 – Investor stream cannot be extended.
188 – Significant Investor stream
Queensland welcomes migrants interested in making a significant complying investment in Australia.
This is a state-nominated 5-year provisional visa. It is a stream of the Business Innovation and Investment (Provisional) visa (subclass 188) and a pathway to permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888).
State nomination for this visa is managed by the Queensland Government, through Migration Queensland, in collaboration with the Australian Government’s Department of Home Affairs.
Eligibility criteria – Significant Investor stream
To be considered for Queensland state nomination, you must meet the Migration Queensland criteria below, which is different for each visa stream.
Significant Investor stream
To seek Queensland state nomination, you must:
- demonstrate a genuine commitment to Queensland.
- have net assets of at least A$5 million, which will be invested in Complying Investment in accordance to Complying Investment Framework (CIF)
Complying Investment Framework (CIF)
- 20% in Venture Capital & Growth Private Equity funds (VCPE) that invest in start-up and small private Companies
- 30% in approved managed funds that must invest in emerging companies listed on the Australian Stock Exchange.
- 50% in balancing investments of managed funds.
After holding this provisional visa for 3 years, you may be eligible to apply for the permanent residency (subclass 888 visa). The 188 – Significant Investor stream can be extended up to 2 times.
Need help with getting Australian Visas?
NO BORDERS LAW GROUP: #1 TRUSTED MIGRATION LAWYERS
Email: service@noborders-group.com
Tel: +61 (07) 3876 4000
Consultation: https://www.noborders-group.com/form/free-consultation
We will help you by exploring visa options and securing applications. We will assess the eligibility of the application for a partner visa, and provide you with detailed advice on your chances of success. If you would like to discuss your visa options and evaluate the pathway to permanent residency, please make an enquiry or book a consultation to get expert advice with one of our knowledgeable and experienced Migration Agents/Lawyers on 07 3876 4000 or email: service@noborders-group.com.
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