This visa is a temporary visa for people to own or manage a new or existing business in Australia or invest in a particular state/territory of Australia.
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Requirements:
- be nominated by a state or territory government and invited to apply
- have a successful business or investment history
- have adequate personal and business assets.
The visa includes three streams:
- Business Innovation stream: for people with business skills who want to establish, develop and manage a new or existing business in Australia.
- Investor stream: for people who want to make a designated investment of at least AUD 1.5million in an Australian state or territory and maintain business and investment activity in Australia.
- Significant Investor stream: for people who are willing to invest at least AUD 5 million into complying investments in Australia and want to maintain business and investment activity in Australia.
This is the first step to migration.
Following this, visa holders can apply for permanent residence under the Business Innovation and Investment (Permanent) visa (Subclass 888)