What Are the Requirements for a Temporary Business Visa in Melbourne?
The Temporary business visa (also called the ‘Subclass 188 visa’) is the initial step businesspersons must take before they apply for the permanent visa and settle in Australia.
The grant period for this visa is normally 4 years and 3 months. It allows you to set up, conduct, and manage business as well as investment activity in Australia.
What Do I Need to Apply for a Temporary Business Visa in Melbourne?
The Temporary Business Skills Visa comes under five major streams namely: Business Innovation, Investor, the Significant Investor, Premium Investor, and Entrepreneur. You can apply for a temporary business visa in Melbourne for any one of the five streams under certain criteria given as follows:
Business Innovation Stream
To apply, you need to:
- Be less than 55 years old
- Score a minimum of 65 points in the points test
- Show proof of business success like annual turnover
- Have a certain percentage stake of nominated main business (51% for a yearly turnover that’s lower than AUD $400,000, 30% for a yearly turnover that’s more than AUD $400,000), or 51% if it’s publicly listed
- Be desirous of owning and managing a management role in an Australian business
- You and/or your partner must have a combined net business asset of a minimum of AUD $800,000
Investor Stream
To apply, you need to:
- Be less than 55 years old.
- Score a minimum of 65 points in the points test.
- Have highly competent management skills pertaining to the respective business activity
- Have minimum 3 years experience in handling one or multiple qualifying businesses/investments.
- Have a desire to reside for a minimum 3 years in the investment-made state or territory.
- Possess minimum net business, investment and personal assets worth AUD $2.5 million.
- Have a State or Territory government agency nominate you to invest AUD 2.5 million or 1.5 million in an Australian State or Territory.
Significant Investor Stream
To apply, you need to:
- Have an invitation prior to application.
- You and/or your partner must have a combined net business asset of a minimum of AUD $5 million.
- Get nominated either by Austrade or Territory or a State government agency in order to invest minimum AUD $5 million under certain requirements.
- Be sincere in your intentions to hold your investment until the end of your provisional visa.
- Must continue business or any activity in Australia once your provisional visa is concluded and when you’ve gained permanent residence.
Premium Investor Stream
To apply, you need to:
- Get nominated by Austrade under the Australian government
- Invest a minimum of AUD $15 million in investments or any philanthropic contributions under particular requirements
- Be sincere in your intentions to hold your investment until the entire period of your provisional visa
- You and/or your partner must have a combined net asset of a minimum of AUD $15 million.
Entrepreneur Stream
To apply, you need to:
- Be less than 55 years old.
- Get nominated either by Territory or a State government agency
- Have high competency in English
- Be willing to undertake or propose an entrepreneurial activity within Australia with an intention to continue the same.
- Show the Department of Home Affairs a business plan for the intended entrepreneurial activity.
There you have it! The requirements you need to fulfil before you apply for a temporary business visa in Melbourne. Make sure you curate all the necessary documentation before commencing with your visa application process. In case of any queries or concerns, you can always get in touch with us at James Tan Immigration Lawyer. We will swiftly handle everything from start to finish, ensuring total peace of mind for your visa application. Get in touch today.