10 September 2018
Q: Who is this visa for?
A: Business owners and investors. If you have owned and managed business(es), or have funds to invest, or both, this visa is for you.
Q: Is this a Permanent Residency?
A: There are many different visas under business migration program, depending on your circumstances. Subclass 188, for example, is a temporary visa, however you will also be eligible for permanent residency after 1 to 4 years (again, depending on your circumstances and preferences). Other visa, such as subclass 132, provides direct and faster pathway for permanent residency.
Q: How much money do I need to have?
A: If you are a business owner, you (or combined with your business and your partner) need to have at least AUD800,000 worth of assets. If you are an investor, at least AUD2,250,000.
Q: Is there any age limit to apply?
A: Some visas under this program require you to be under 55 years of age, however some exemptions apply.
Q: What are the English language requirements.
A: The minimum English language requirements (and the exemptions) are shown in the box below. However, some business visas do not have minimum English language requirements.
- You hold a valid passport issued by the United Kingdom, the United States of America, Canada, New Zealand or the Republic of Ireland and you are a citizen of that country.
- You have achieved a score of at least 5 in each of the four test components (speaking, reading, listening and writing) in an International English Language Testing System (IELTS) test that has been undertaken in the three years immediately prior to lodging the visa application.
- You have achieved a score of at least ‘B’ in each of the four test components of an Occupational English Test (OET) that has been undertaken in the three years immediately prior to lodging the visa application.
- You have achieved the following minimum test scores in each of the four test components: 4 for listening, 4 for reading, 14 for writing and 14 for speaking, in a Test of English as a Foreign Language internet-based test (TOEFL iBT) that has been undertaken in the three years immediately prior to lodging the visa application.
- You have achieved a test score of at least 36 in each of the four test components (speaking, reading, listening and writing) in a Pearson Test of English (PTE) Academic that has been undertaken in the three years immediately prior to lodging the visa application.
- You have achieved a test score of at least 154 in each of the four test components (speaking, reading, listening and writing) in a Cambridge English: Advanced (CAE) test that was undertaken on or after 1 January 2015 and prior to lodging the visa application.
Q: Do you have to live in Australia after being granted the visa?
A: This depends on your intention and plans. Some visas require you to stay for at least 1 or 2 years, however another may only require you to be in Australia for 40 days a year only.
Q: How long does the visa last?
A: The visa will be granted for 4 years. In some cases, you can extend your visa for another 2 to 4 years, provided that you have lived in Australia for at least 3 years on your first business visa.
Q: How quick can I obtain permanent residency?
A: The quickest is after 1 year since your temporary visa grant. However, this varies depending on your circumstances. For instance, for some business owners, you are only eligible for PR after 2 years holding your temporary business visa.
Q: What does this visa let you do?
A: You and your family members will be able to work and live in Australia. Your children can also study with no restrictions. If you have made your applications for PR, you and your family members may also be eligible for Medicare.
Q: Do I have to have academic qualifications to be eligible?
A: No, having academic qualifications is not a requirement for these visas.
Q: If I want to come as an Investor, how long will my money be ‘tied up’ in Australia for?
A: You need to show that you ‘genuinely intend’ to make and hold your investment in Australia for two years. In some cases (for instance, the Significant Investor Stream), you are required to hold your investment of $5million for four years.
Q: Will they check the source of my investment funds?
A: It is a requirement that the monies used to make the investment for your business visas are unencumbered and lawfully acquired.
Q: Can I invest in property to satisfy the requirements?
A: No. Direct investments in residential real estate, will not be considered a complying significant investment for a Significant Investor visa or complying premium investment for a Premium Investor visa.
Q: Do I still have to hold complying investments once I am granted a permanent Significant Investor visa or Premium Investor Visa?
A: If you are granted a permanent Significant Investor visa or Premium Investor visa, you can decide for yourself what you want to do with your complying investments.