This visa is for the businessmen who want to start a new or develop the existing business in Australia and are nominated by state or territory.
It has two streams as mentioned below:-
- Significant Business History stream-For high-calibre business owners or part-owners who want to establish business in Australia.
- Venture Capital Entrepreneur stream-It is for the individuals who have sourced venture capital from the member of the Australian Venture Capital Association Limited (AVCAL).
Requisites of the visa:-
- You should not have been involved in any illegal or unethical business practices.
- You have a satisfactory record of complying with Commonwealth laws, and of each State or Territory in which you operate a business and employ employees in the business, relating to your business.
- Have been nominated by State or territory.
- You must be invited by skill select to apply.
- You have genuine commitment to maintain investment in Australia.
- You along with your partner has not been involved in any illegal business activities ever.
- You along with your partner hold good moral and health conduct.
- You must have:-
- have net business and personal assets of at least AUD1.5 million and an annual business turnover of at least AUD3 million, or
- have obtained at least AUD1 million in venture capital funding to start the commercialisation and development of a high-value business idea in Australia.
Privileges of the visa:
- Provides you right to live in Australia indefinitely.
- Applicant can work in Australia during your stay.
- Allows you to apply citizenship if you meet certain requirements.
- Allows you to move to and fro for five years starting from the day visa is granted.
- You can sponsor your relatives for permanent residency.
- Visa Avenue charges
- Medical Examination:-To be paid directly to the doctor conducting medical examination
- Police check:-To the corresponding authorities in the respective countries where you have lived for more than 6/12 months depending on the visa subclass
- Certification/Translation of Docs-Depending on the certifying person and number of copies to be certified.