Australia needs high net worth business owners and investors
- Posted by: Ranjan S Rana
- Categories: Business & Investment Visas, Visa
While the world has been grappling with the unfortunate and challenging times due to COVID-19, the demand for investment and migration to safe countries like Australia has surged.
Australian government aims to lure international businesses and exceptional talent to Australia under a new initiative to support the post-COVID recovery and boost local jobs.
Australia was always regarded as one of the preferred destination due to safe environment, strong political leadership and stable economy. Even during COVID-19 crisis, Australia has fared much better than most western countries.
In general, Australian companies are well placed to weather the COVID-19 pandemic given their healthy balance sheets, which are in much better shape, than during the Global Financial Crisis.
Overall, the data shows that Australia is doing quite well in combat against the pandemic. Australia has reported low numbers of coronavirus infections and deaths, compared to other major industrialized countries. Once this crisis passes, many will benefit from the likely tailwinds of unprecedented financial stimulus, with record low interest rates and a large number of people eager to engage in commercial activities.
Despite the disruptions caused by COVID-19 pandemic, it has been business as usual for most states. As the migration sector struggles with sustained boarder closures, the future for Australia as a destination of choice for high net worth individuals and families remains strong. The feedback we receive from our clients, prospective migrants appears to be very supportive of the attractiveness of Australia due to the handling of the Pandemic.
Is it the right time to Invest in Australia?
Market timing is notoriously difficult. We have frequently been asked by clients whether we have reached the bottom yet, and our honest response is that we do not know. Unfortunately, no one rings a bell to signal the bottom of the market. What we do know is that the economy will ultimately recover, and that history has shown time and time again that the market snap-back can be very sharp and swift.
Business investment is often a long-term strategy and apart from financial gains, one must look at other factors like quality of life, education for kids, safe environment, especially if you are planning to migrate to Australia with your family.
There has been some renewed interest in the investment market while at the same time Australian Dollar has weakened and investment markets have softened. Low AUD and correction in investment markets presents an opportunity for business and investment visa aspirants. Now is a perfect time for savvy investment migrants to apply for Australian Business/Investment visa.
Business Innovation and Investment (Provisional) visa (subclass 188)
There are few business/investment visa options available depending on client profile, amongst all the most famous being the Business Innovation and Investment (Provisional) visa (Subclass 188). This visa lets you conduct business and investment activity in Australia, which further leads to permanent residency once the requirements are met for the permanent stage.
There are several streams under this program as below:
Business Innovation stream
This visa is for you if you have had a successful business career and wish to own and manage a new or existing business in Australia.
To be eligible for this visa stream, you must receive nomination by an Australian state or territory.
With this visa, you can stay in Australia for up to 4 years 3 months.
Read more about Business Innovation stream here.
This stream is for you if you wish to carry out entrepreneurial activities in Australia. This visa allows you to stay in Australia for up to 4 years and 3 months.
Read more about Entrepreneur stream here.
This stream is for you if you have experience in managing a business or investments, and are able to make a designated investment of AUD 1.5 million or more in Australia for at least 4 years.
It is also necessary that you receive a nomination by the government agency of an Australian state or territory.
Read more about Investor stream here.
Significant investor stream
This stream is for you if you are able to invest at least AUD 5 million in a complying significant investment in Australia for at least 4 years. No age limit, points test or English requirement applies. Residence requirements are also reduced.
Read more about Significant investor stream here.
Premium investor stream
This stream is for you if you are nominated by Austrade, and are able to invest at least AUD 15 million in a complying premium investment in Australia for the entire visa period. No residence, age, points test or English requirements apply to this visa stream. You can also invest in Australian investments and/or philanthropic contributions.
Read more about Premium investor stream here.
Once you have held your provisional visa for at least two years, you will be eligible to apply for the permanent subclass 888 Business Innovation & Investment visa, provided you meet all of the relevant requirements. Alternatively, you may be eligible to extend your provisional visa for a further two years. Please contact us if you would like further information regarding the requirements for the permanent Business Innovation & Investment visa, or the provisional visa extension.
Subclass 132- Business Talent (Permanent) Visa
The Business Innovation stream of the subclass 188 – Business Innovation and Investment (Provisional) visa allows high-calibre business owners to migrate permanently to Australia.
The subclass 132 visa has two streams:
Significant Business History stream
This stream is for you if you have had a very successful business career, and wish to own and manage a new or existing business in Australia.
To be eligible you need to have:
- a net value of at least AUD $1.5 million
- an annual business turnover of at least AUD $3 million.
Venture Capital Entrepreneur stream
This stream is for you if you have obtained the requisite funding from an Australian venture capital firm.
To be eligible you need to have at least AUD $1 million in venture capital funding in Australia to develop a high-value business idea.
How can we help you?
We are a team of professionals specialising in business and investment visas. With experience of more than 15 years, we can assist you with all facets of your business or investment needs, be it business research, purchase or investment options suiting your individual needs.
Contact us to book a confidential consultation with one of our friendly Registered Migration consultants.
The above article constitutes only generic information on migration issues, and does not constitute specific migration advice to any entity or individual.