Australia is actively looking for potential skilled migrants from all over the globe to bring in new ideas, knowledge and skillsets into the country. In recent years, there’s been an influx of permanent skilled migrants into the country from the UAE, especially Dubai & Abu Dhabi, as Australia has made itself accessible to businessmen and investors from the region.
The Australian Government has introduced Business Innovation and Investment visas to achieve this goal. The Business Skills Migration framework is covered by the Migration Act of 1958 and Migration Regulations of 1994.
Presently, the regulations prescribe four main streams under which the subclass 188 visa application can be made:
- Business Innovation Stream
- Investor Stream
- Significant Investor Stream
- Premium Investor Stream
The Business Innovation Stream is a great option:
The Business Innovation Stream suits most overseas business owners especially from Dubai & Abu Dhabi in the UAE and India, in order to fulfill the minimum criteria. This stream of visa category is for those businessmen from UAE & India who have exhibited proven business skills & who intend to start, develop and manage either a new or existing business venture in Australia. Businessmen who are granted Australian visas under the Business Innovation Stream are allowed to set up new businesses, set up branch offices or takeover qualifying businesses – whether self managed or co-managed.
REQUIREMENTS FOR BUSINESS INNOVATION VISA FOR AUSTRALIA:
Apart from the regular age and points test criteria, there are some other mandatory criteria that need to be followed for all business visa categories. Business Innovation Visa applicants must meet the below requirements:
- Having a minimum asset wealth of AUD800,000 (including personal, business and spouse’s asset).
- According to the prescribed legislative instrument IMMI 12/041, the minimum amount of points to be satisfied is 65.
- There is no mandatory English and Academic requirement.
- 2 years out of the last 4 fiscal years immediately before applying for business innovation visa for Australia, business must have had a minimum turnover of AUD500,000 in the current businesses in which the businessman and/or applicant has ownership interest as mentioned below:
@ 51% ownership of the business, if the turnover of it is less than AUD400,000 per year.
@ 30% ownership of the business, if the turnover of it is higher than AUD400,000 per year.
@ 10% ownership of the business, if it is public listed company.
Moving to Australia and settling there is a little more complex than putting in a simple application. Despite the country actively looking for skilled migrants & business owners from abroad, there are many conditions & criteria to be met, and the visa application process has many steps, with checks and approvals needed at each point. Best Migration Serviceshandholds their business clients – especially from Dubai & Abu Dhabi – United Arab Emirates and India, throughout its Business Innovation Stream (subclass 188) and to also getting their subclass 888 which is a Permanent Residency Visa. BMS through its partners and associates also helps in acquiring or taking over qualifying businesses either self managed and/or co-managed with lucrative returns and providing them a pathway to Australian Citizenship.
Businesses from the UAE & India that invest their funds in businesses in Australia through BMS and its business associates and partners – FBP International, provide good returns and assure their return on capital investment in the span of a few years.
Migrants from Dubai & Abu Dhabi – United Arab Emirates and India who are Interested in migrating to Australia and doing Business or Investing in Australia, please contact [email protected] or call us on +971507513997 (UAE) +61499914288 (Australia).
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