Invest And Settle In Australia
With incredible opportunities to explore, Australia is one of the best destinations for business people seeking newer shores. Australia is a hotbed for talent and its unique location makes it a regional economic powerhouse.
Australia has Subclass 188 (Australian Business Innovation & Investment Stream (Provisional)) that allows entrepreneurs to establish or purchase a business in Australia. It’s a path to permanent residency that offers incredible benefits to successful applicants.
BENEFITS OF SETTING UP BUSINESS IN AUSTRALIA:
There are two pathways that are available for foreign entrepreneurs to setting up their business in Australia:
With Subclass 188 you will be eligible for permanent residence after establishing your business.
If you have extensive experience, you can be sponsored by a state or territorial government for permanent residence.
With Subclass 188 you can own and manage a business in Australia or conduct a business or investment activity entrepreneurial activity in Australia.
The right to establish a new enterprise or develop an existing business, or to invest in Australia is acquired with a permit to set up for the purpose.
Unlimited travel in and out of Australia will be possible.
You can bring family members with you to Australia.
You will have the opportunity to apply for Australian citizenship.
You will be able to apply for permanent residence through subclass 888.
It will also be possible to extend your permit for a further 2 years if you have applied and been granted the Subclass 188 under the Business Innovation stream.
The Subclass 891 is for immigrants who wish to start a business or want to undertake investment activities in Australia. With it, you can stay in the country indefinitely.
Y-Axis has a dedicated team to guide investors trying to invest overseas. The experience of the team combined with our expertise in immigration consulting makes us your ideal partner to make your business foray in Australia.
Benefits of Subclass 891
With the Subclass 891 visa, you can
- Work and study in Australia without restrictions
- Stay in Australia for an unlimited period
- Subscribe for Australia’s universal healthcare scheme
- Apply for Australian citizenship if you are eligible
- Travel in and out of Australia for five years
- Include your family members in the application for a permit
Eligibility conditions for the Subclass 891 visa
- You must be the primary holder of a Subclass 162.
- You must have lived in the country for at least 2 years in the previous 4 years immediate to the date of your application while having Subclass 162.
- You must have held a designated investment of AUD1.5 million for 4 years.
- You must display a commitment to continue your business activities in Australia.
- Ownership of a business with a turnover of at least AUD 500,000 for at least 2 of the last 4 fiscal years
- Net personal and business assets of at least AUD 800,000
- Under 55 years of age, unless the nominating state or territory certifies that you will make an exceptional economic benefit
- Meet the pass mark in the Business Innovation and Investment Points test. Currently you need 65 points to pass. Points are awarded on:
- English language ability
- Experience in business or investment
- Net personal and business assets
- Business turnover
- Special endorsement
- Have an overall successful career in business
What is the nature of permit for foreign investors in Australia?
Australia’s significant investor permit that was launched in 2012 offers a streamlined permanent residence route for HNWIs (High Net Worth Individuals) through investment immigration. It doesn’t offer Australian Citizenship directly. However, the permit holders can apply for Citizenship after 3 to 4 years of residency including 12 months as permanent residents.
What is Subclass 188?
Subclass 188 is for individuals with business skills who intend to manage and own an existing or new business in Australia. They can also invest in a territory or state in Australia. It is a provisional permit and can allow the holders to apply for permanent residence.
How much do I need to invest to get a permit to do business in Australia as a foreigner?
Business owners or successful investors can obtain the permit if they are ready to invest at least AUD 1.5 million in Australia for 4 years.
How much do I need to invest in Australia to get permanent residence/citizenship?
Investors who want to obtain the Australia permanent residence can apply for the Subclass 891. For obtaining this permit, they must be ready to invest AUD 1.5 million and must have stayed in Australia for a minimum of 2 out of the last 4 years. They must also be already having the Subclass 160/165.
What are the eligibility requirements for the Australia Business Innovation stream?
The applicants of the Australia Business Innovation stream must fulfil the below requirements:
- Have nomination
- Have ownership of the business
- Possess business and personal assets of minimum AUD 800,000
- Secure at least 65 points in the test for points
- Be below 55 years of age
- Have a thriving business career
- Must not have involved in activities that are unacceptable
- Possess proficiency in English at the functional level
- Fulfil health and character requirements
- Accept and sign the statement for Australian values
- Must not have a debt owed to the Government of Australia
- Must not have the refusal of previous application or cancellation of permit
What are the eligibility requirements for the permit for a foreign investor?
Eligibility requirements are based on the permit you are applying for and they vary from country to country.
For instance, if you are applying for the Subclass 188 for Australia, you must qualify for either one of the 3 of its sub-categories:
- Business Innovation
- Business Investment
- Classification as a significant investor
The investor must be below 55 years when submitting the application. They should have a detailed plan for the business or be willing to invest in an existing business in Australia.
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