This visa allows you to establish a new or develop an existing business in Australia. It is a permanent visa and there are two streams:
Significant Business History Stream
This stream is for experienced business owners who wish to operate a new or existing business in Australia. Some of the criteria include:
Have a successful business career and a genuine desire to own and maintain a management role in a business in Australia
Own a substantial part of the business
Have total net business and personal assets of at least A$1.5 million
Have a total annual turnover of at least A$3 million
Have total net assets worth A$400,000 or more from the ownership interest in one or more qualifying businesses.
Have lodged an expression of interest (EOI) and have been nominated by an Australian State or Territory government
Be younger than 55 years of age unless you can demonstrate that your proposed business will be exceptional economic benefit to the region where it will operate.
Venture Capital Entrepreneur Stream
This stream is for people who have sourced venture capital funding from a member of the Australian Venture Capital Associated Limited (AVCAL). The visa lets you operate a new or existing business in Australia. Some of the criteria include:
Must have a genuine and realistic commitment to engage in your business and to maintain an ownership interest in your business or investment
Must have at received at least A$1 million funding for a value business idea and have a formal agreement with an Australian venture capital firm for the funding
The venture capital firm must be a member of AVCAL and the funding must be for:
business development
product commercialisation
start-up costs.