Business & Investment Visa Australia 2022

Read our latest news in September 2022 for Australian Immigration here >>

Today we are going to talk about the recent news about business innovation and investment visa 188 in Australia.

There is not so much good news regarding the Business and Investment Visa in Australia recently from the minister's talk and the Business Visa Allocation announced in late August 2022.

There are comments that Investor Visa streams do not bring benefits to Australia or are being criticized by the Minister of Home Affairs, Ms Clare O'Neil and the Grattan Institute.

State criteria has become more difficult for the Business Innovation stream 188a visa with higher points score. This is due to the low allocation provided by the Department of Home Affair which makes it harder to nominate applicants for states and territories.

Though there is negative news, the business and investor visa program is still very beneficial to Australia on my perspective. There are a lot of values it brings that are mentioned in the video.

There are currently 4 streams opening:

• Business Innovation stream- Visa 188a Australia
• Investor Stream visa 188B
• Significant Investor stream Visa 188C with no English, age or business experience requirement
• Entrepreneur stream

Business Visa Allocations in 2022-23

In the last 2 months, there is so much positive news regarding the skilled migration program.

However, there are a few negative updates about the business visa program to be considered.

This year has seen very low allocations for business innovation and investment visas in all states.

There were around 7,000 allocations available in 2021.

This year only has 810 total allocations in this interim stage. This is an approximately 85% decrease.

There may be more allocations, but they might not be high based on current news and outcomes from the skills summit.

The highest number is 260 and 235 for NSW and QLD.

South Australia has also seen a significant drop in their places for BIIP at only 70 this program year.

State Criteria Business Innovation & Investment Visa – SA, QLD and NSW

As a result, States have published their business visa requirements with slightly higher criteria.

NSW and SA have published their business visa requirements with slightly higher criteria.

Business and Investor Visa NSW

Instead of 65 points for 188a and 188b visas, the requirement has now been raised to 85 in NSW.

There is no change for the Significant investor stream 188C in NSW.

Business Investor Visa South Australia

Move to SA has announced 70 allocations for Business Innovation and Investment Program

Regarding the criteria, 188B Investor Visa Australia and 188C Significant Investor Visa do not change much.

It becomes more difficult to get a 188A, the applicants need to apply for ITR and be invited to apply for nomination.

Other than that, applicants must:

- Score at least 80 points in the points test (including state nomination points). 

- Provide a business plan detailing the economic impact of your proposal to South Australia

A business plan will be given more weight in terms of nomination ranking factors.

It is also more difficult to get 888A Business Innovation Stream (PR Australia):

• Higher investment requirement, 300k instead of 200k, AND
• 2 full-time employees
• Director's loan is not considered as business asset by Move to SA.

It wants the 188A visa holders to spend the money in SA to show Benefits to the State!

Business and Investor Visa QLD

SIV news from the Minister’s talk

In the latest talk, Minister Clare O’Neil mentioned:

"I think most Australians would be pretty offended by the idea that we've got a visa category here where effectively you can buy your way into the country,"

"I don't see a lot of great benefits to the country currently." When she was asked by Andrew if the Golden Visa Australia might be abolished.

The minister has criticized the Significant investor visa to be bringing in older people who can cost the budget.

Investor Visa Australia - Comments from Grattan Institute

These comments reflect what has been published by the Grattan Institute, a private research body in which recommends public policy.

The Grattan Institute has put forward the view that business migrants pay less tax over the lifetime than skilled visa migrant workers.

The institution seems to be criticizing all 4 streams of the business and innovation program.

What is the future for Business and Investor Visas Australia?

There is a strong possibility that the Federal Government will totally cut the Significant Investor Visa stream of the 188 sometime in the future.

There is also an unanswered question that will also cut the investor visa.

This is also referred to as the 188B Visa Australia.

It requires a 2.5 million investment into the complying fund.

But the investor is difficult because it does have a prerequisite of investment experience and an age limit of 55.

We still need more time to see what is going to happen with the Significant investor stream and the investor stream.

In the meantime, it is still available and no ministerial guidelines about the abolishment of the program.

Chris's comment on current Business and Investor Visa news

I personally don’t agree with the analysis of the Minister nor the Grattan institute

The measure of individual tax payment does not reflect the true benefits of business and investment visas.

These include:

• Create capital for small businesses or venture capital funds
• Create more jobs for Australians
• Export Australian products especially 188a visa stream
• Create ties to increase international relations.
• Can promote regional property development, especially for 188A stream

What to do now?

With limited allocations, it is no doubt the business visa program will become more difficult

The quotas can be filled very quickly before this financial year ends.

There is also the possibility that some of the 188 visa streams will be cut.

So if you are interested in a business and investment visa in Australia, you should consider applying soon.

If you want a business visa in Australia, please book an appointment or use our Business Visa Compare tool.

With Business visa compare, you only need 5 minutes to answer some simple questions and get your best business visa options.

Australia is always the top desitnation for family to enjoy the quality of living standard, education and outdoor activities. Work Visa Lawyers has professional Immigration Lawyers and Agents to deal with your Visa matters. We also have trusted financial advisory partners who are eligible to manage your investment portfolio in Australia.

For a quick assessment of your best Australian Business Visa options, please visit our FREE assessment tool: Business Visa Compare

More about the Business Visa Australia Agents and Lawyers

Understanding the difficulties in choosing the best Australian Business Visa options, Business Visa 188 Agents and Lawyers team have worked together to create this tool to help experienced business owners or investors find their best Business and Investor Visa options in Australia.

Work Visa Lawyers has strong immigration knowledge and committed to keep updating our website and Business Innovation and Investment news in Australia.

Work Visa Lawyers ® is a migration firm founded by Lawyer Chris Johnston in 2011. Our team is focused on providing quality immigration services to our clients, wherever they are in the world. We speak English, Mandarin, Cantonese, Punjabi, Hindi, Tagalog (Filipino), Portuguese and Vietnamese.

We can help you with the Business Innovation and Investment (Provisional) visa (subclass 188) for the following four streams and Global Talent Visa:

• 188A visa - Business Innovation stream
• 188B visa - Investor stream
• 188C visa - Significant Investor stream SIV
• 188E visa - Entrepreneur stream
• 858 Visa – Global Talent Visa 

We are experts in Business and Investor Visas 188 and Global Talent Visa 858 in Australia. We help overseas business owners, investors to create a new life in Australia with their family much faster through those visa streams.

Learn more about our Business & Global Talent Visa Team >>

Sources: 

Skynews Interview with Minister Clare O'Neil about the Significant Investor Visa and Business Visa Australia

Grattan Institute Comments on the Business and Investor Visa Australia 

Read our latest Australian immigration updates April 2022 here>

Australia has a strong education system and is considered one of the best in the world, which makes it very attractive to students across the world.

Most of the students once they complete their studies want to get settled in Australia because of the livability factor.

They may get a decent lifestyle including physical and mental wellbeing, which makes them want to get settled here.

Obtaining Australian Permanent Residency Visa is getting more and more competent, and the visa system is vast and complex.

Many times, people do get confused about how to get it

Here we are discussing a few common pathways to Australian PR for you

In September 2021 South Australia opened for applications for the 188 Entrepreneur visa and announced it had made some changes to the eligibility criteria which make it much easier to get.  Previously this visa was limited to applicants who had already secured financial backing for their businesses but the new version is much more accessible.  For the right person with the right business proposal, the Entrepreneur visa can offer a path to Australian permanent residency.

Background

The Business Innovation and Investment Program encompasses Australia’s range of business and investment visas.  It incorporates the 188 visa and all its sub-streams, and the 888 permanent visa.  Once an applicant has completed their 5 year stay on the 188 visa, if they have fulfilled the obligations of their visa they may apply for the 888 visa which grants them permanent residency.  There are multiple streams under each visa heading but today we’re looking at the 188 Entrepreneur stream, also known as the Entrepreneur Visa - a visa for ambitious business people wanting to start an enterprise in Australia.

What are the Benefits of the 188 Entrepreneur Visa?

The Entrepreneur visa allows you and immediate members of your family to live and work in Australia.  After 3 years you can apply for permanent residency and eventually, citizenship too. 

Who Is Eligible?

To be eligible for the Entrepreneur Visa anywhere in Australia, you must meet the Federal Requirements.  The Federal Requirements for the 188 visa are that you must:

Federal Requirements

• Propose to undertake a business activity in Australia that will lead to the commercialisation of an innovative product or services in Australia
• Have at least a competent level of English
• Be nominated by a state
• Meet the health and character requirements
• Be under 55 years of age or be able to show your business will provide an exceptional economic benefit to Australia
• Sign a values statement
• Owe no debt to the Australian government, and
• Not have previously had a visa cancelled or an application refused.

In addition to these, you must comply with any additional requirements of the state you intend to live in.  The South Australian Requirements for the 188 Entrepreneur visa are that you must:

South Australian Requirements

• Intend to live in South Australia
• Propose your business be based in South Australia
• Be nominated by a Service Provider, and
• Provide a detailed proposal for your Australian business.

Who cannot Apply?

Unfortunately, holders of certain visas are deemed ineligible to apply for the South Australian Entrepreneur Visa.  You will be immediately refused if you are a holder of a:

• Student visa of any kind (including 500, 570, 571, 572, 573, 574)
• 403 Temporary Work visa, or
• 771 Transit visa.

Do I need to be in Australia to apply?

You can apply for the South Australian Entrepreneur visa from anywhere in the world! There is no need to be onshore.

Service Providers

In order to be eligible for the South Australian Entrepreneur Visa, you must be nominated by a Service Provider.  These Service Providers are a group of organisations dedicated to working with new and growing businesses. The Service Providers are:

• Stone & Chalk

• New Venture Institute (Flinders University)

• Moonshots

• Thinclab (The University of Adelaide)

• The Innovation & Collaboration Centre (UniSA)

What Types of Business does South Australia Want?

The proposed business must be likely to, in the opinion of the Australian Government, achieve the 888 Entrepreneur visa criteria within 5 years.  The criteria are divided into “Key Factors” and “Supporting Success Factors”.  You will need to demonstrate you are likely to meet either:

• 2 x Key Success Factors; or
• 1 x Key Success Factors and 3 Supporting Success Factors

Remember, you don’t need to already be fulfilling these criteria – you just have to show that you are likely to fulfil them in the next 5 years.  As far as what your business actually does, it doesn’t matter so long as it is likely to fulfil the criteria.  There are 3 prohibited categories:

1. Labour hire
2. Residential real estate
3. Purchasing an existing business,

And of course, your business idea needs to be legal and ethical.  So long as it fits the criteria and isn’t one of the prohibited categories, it could be anything from creative arts to space technology!

What about states other than South Australia?

The only other state that is accepting applications for the 188 Entrepreneur visa outside of South Australia is New South Wales (NSW) however the criteria for eligibility are higher in NSW.  In addition to meeting the Federal Requirements, the NSW Requirements are that you must:

New South Wales Requirements

• Already have funding secured for your business project;
• Funding must be secured from an approved entity (an Australian Government agency, publicly-funded research organisation, university, or an approved investor).
• Be nominated by an approved NSW Startup Program;
• Submit a detailed business proposal;
• Commit to living and working in NSW; and
• Have your business headquarters in NSW.

The difference here is that for an 188 Entrepreneur Visa in NSW, you must have already secured your funding. In South Australia, you need only show that you are likely to secure funding.

You can read more about the NSW program here.

How do I apply for the South Australian 188 Entrepreneur Visa?

The first step is to make an appointment to talk about your options with an experienced immigration lawyer or registered migration agent at Work Visa Lawyers who can go through the details of the 188 visa with you and make sure you are eligible, and that your intellectual property is protected.  If you meet the criteria, the next step is to commence discussions with one of the approved Service Providers (above) as you will need one of these groups to nominate you if you are to receive the Entrepreneur Visa.  If for any reason you do not meet the criteria, Work Visa Lawyers will assess your personal situation and advise what you need to do to qualify, or what alternative visa pathways might be available to you.

Being situated in Adelaide, South Australia, Work Visa Lawyers are uniquely positioned to help you with your South Australian Entrepreneur Visa application, and we would love to help you on your journey.

Australian Business and Significant Investor Visas Subclass 188 Closed - New Visa Expected in 2024! Read more here! 

Author:

Chris Johnston, Founder and Principal Lawyer at Work Visa Lawyers

Disclaimer

While every care is made to ensure this information is correct at the time of publication, it is subject to change without notice.  All information provided on this page is provided for purely educational purposes and does not constitute legal advice.  For advice on your personal situation, please speak with an Immigration Lawyer or a Registered Migration Agent.

Sources

https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innovation-and-investment-188/entrepreneur-stream

https://migration.sa.gov.au/visa-options/business-and-investment-visas/business-innovation-and-investment-provisional-visa#nav-requirements

https://www.nsw.gov.au/topics/visas-and-migration/business-and-investor/subclass-188e

Investor visas are one of the best ways to get permanent residency in Australia. If you want to move to Australia and you have the means to invest five million Australian dollars, the 188 Significant Investor visa might be ideal for you.

The Business Innovation and Investor 188 visa is the visa for experienced business people or high net-worth individuals. There are four streams of the 188 visa, depending on how much you are able to invest, but the Significant Investor visa is the stream with the most benefits. Here are 10 reasons we think you’ll love the Significant Investor visa.

Senator James Paterson, Chair of the Joint Committee in Intelligence and Security has announced that skilled visa applicants coming to Australia from Hong Kong will receive priority processing, a sentiment which Minister for Immigration Alex Hawke confirmed on 30 July 2021 on ABC Radio.  While filling the void in Australia’s skilled labour force is certainly a driving factor in this decision, Paterson said it was also a moral obligation and " the right thing to do after the Chinese Communist Party broke its promise to protect the freedoms of the people of Hong Kong."  While Australia is already fast-tracking business, investment, and global talent visas for Hong Kong nationals, this is a new opportunity for those who could not previously obtain an Australian visa to escape the political turmoil of their homeland.