Australia is one of the leading countries that encourages citizenship through investments. Therefore, to streamline the immigration process, a few changes have been made to the Australian Business Innovation and Investment Programme (BIIP). The number of visa streams has been cut down from 9 to only 4 streams.

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The four BIIP streams are as follows:

• Business Innovation Visa Stream: Applicant must establish and manage new or existing businesses in Australia
• Business Investor Visa Stream: Applicant must invest AUD $1.5 million in an Australian state government or local government bonds
• Significant Investor Visa Stream: Applicant must invest AUD $5 million in an Australian state government or local government bonds
• Entrepreneur Visa Stream: Applicant must commercialize an innovative business and obtain an investment agreement of AUD $200,000 and operate that commensurate business enterprise in Australia

Further details about how these visa streams function and important criteria to consider are explained below.

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Business Innovation Visa Stream (Subclass 188A)‍

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As an investor, if you have already established a business that is profitable and operating well, then this is a visa stream that you could consider applying for. To measure the success of your business, the following criteria need to be met:

• You have to ensure that you owned the business for a minimum of 2 fiscal years from 4 fiscal years.
• Your business is making an annual turnover of no less than AUD 700,000.
• You cannot be more than 55 years of age. A vital aspect to note is that if you can prove that your business will be very profitable and will add a lot of economic value then certain states or territories may choose to waive the age restriction.
• You need to have a net asset of a minimum of AUD $1.25 million. This can be a combined net asset value for both yourself and your spouse.
• Finally, you need a score of 65 on the Expression of Interest (EOI) point test.

Once this Business Innovation Stream Visa (Subclass 188A) is granted, you will get to live and run your visa for up to 5 years from the day of the visa grant.

After 5 years of this visa, if your business meets the minimum turnover and financial assets requirement, you can consider applying for PR with a Business Innovation and Investment Visa (Subclass 888A).

However, if you don’t qualify for it, then you can choose to extend your 188A Visa for another 2 years. It is important to know that this 2-year extension is only a single extension and you need to sufficiently prove that you are committed to running your business successfully in Australia.

In comparison to other countries’ investment programs, the Australian Investment Visa Pathway is considered more secure. This pathway allows the investor to invest in their own business, rather than providing the funds to another company to invest for them. In countries like America, the United Kingdom and Canada, the investment requires the applicant to invest the funds with other companies. This means that your investment return is dependent on someone else. Most of our investor clients prefer this pathway as they can control the management of their investments.

At Path Migration, we have assisted clients from several countries:

• Australia Investor Visa from India: We have assisted several Investor clients from India who have set up business in Australia. They have set up businesses in the IT sectors, e-commerce and setting up educational institutions. One of the main requirements that Australian Investor clients from India need to ensure is that the information on Companies House India is accurate at the time of visa application.
• Australian Investor Visa from Hong Kong: We have assisted many clients from Hong Kong. The Australian Government has provided certain exemptions to the requirements due to the political situation in Hong Kong. The processing of the Australian Investor visa for clients from Hong Kong is undertaken in Hong Kong. One of the key requirements that Hong Kong clients need to provide is property valuations from the Royal Institute of Chartered Surveyors. 
• Australian Investor Visa from Bangladesh: We have assisted several Investor Visa clients from Bangladesh. One of the major considerations from Investor clients from Bangladesh is the source of funds. Path Migration has an in-house chartered accountant that assists with preparing the submission to satisfy the source of funds element of the investment visa.

Business Investor Visa Stream (Subclass 188B)

This is a temporary visa that is suitable for individuals who have had thriving experience in business ownership or investment management, which means the CEOs, senior managers and/or experienced investors. If you have had these experiences for no less than 3 years with a proven track record of success you can consider applying for this visa, given you meet the following criteria:

• Similar to the last visa stream, it is required that applicants are not over the age of 55, however, if you can prove how economically beneficial your investment will be then certain states and territories may overlook the age requirements.
• To be able to apply for this visa, you have to make a minimum investment of AUD $1.25 million in Australian state government or local government bonds, and you need to maintain that investment plan for 4 years.
• Your combined net asset is no less than AUD $2.25 million.
• You have a minimum score of 65 on the Expression of Interest (EOI) points test.
• You can sufficiently prove that you are committed to carrying on with business or investment activities in Australia after the maturation of your initial investment.

Subclass 188B Visa is granted for 5 years. Given the recent changes, if you want to pursue PR then you can apply for it after 3  years of maintaining your investment. However, for PR to be granted, you need to continue maintaining your investment for the 4th year. In addition to that, you need to live in Australia for 2 years during that period before you can apply for a permanent visa.

Significant Investor Visa Stream (Subclass 188C)

Unlike the prior streams we have looked into, this visa stream does not have a maximum age limit. If you are above the age of 55 this is a visa that is worthwhile to consider.

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• As an investor, you are required to invest no less than AUD $5 million, and you have to sufficiently prove that you are intending to hold that investment during your visa duration.
• If you are successfully granted this visa then you will be able to stay in or travel to and from Australia for 5 years.

Given the recent changes made in July 2021, after 5 years of this visa, you can get two 2-year extensions of this provisional visa. However, you still need to hold your investment during this extended period of 4 years.

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Alternatively, if you meet the business or residency requirements, then after 3 years of holding this visa, you can apply for permanent residency.

Entrepreneur Visa Stream (Subclass 188E)

If you are an investor with profitable entrepreneurial skills and a project that will be successful in Australia, this is one visa stream that you might consider applying for. With an investment requirement that is comparatively the among all the visa streams discussed above this stream is designed to attract investments from innovators and business acumen.

• To be considered for this visa stream, you need to have an agreement with a verified entity to fund a minimum of AUD $200,000 to undertake entrepreneurial activities in Australia. However, this AUD $200,000 threshold will be scrapped, instead, you need to be endorsed by the state or territory.
• For endorsement, you have to come up with a feasible and profitable business plan.
• Furthermore, a good character requirement must be maintained by both yourself and your family.

Like the previous visa classes, this visa is also granted for 5 years. While holding this temporary visa, if you can showcase a track record of successful entrepreneurial activities then you can apply for permanent residency through Subclass 888E.

This is a very good opportunity for you to consider if you are planning to migrate to Australia.

As you look into investor visas, you might also need to consider the appropriate visa application for your family as well; along with understanding all the visa conditions and visa requirements. 

Disclaimer: Kindly note that the information provided here does not constitute legal advice. This must solely be regarded as content that provides general immigration information and is not a substitute for professional legal advice that occurs between an immigration lawyer and a client. 

Path Migration strongly recommends readers to contact certified immigration lawyers for a holistic overview of the Australia immigration system and a detailed analysis of each case. 

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