The purpose of Australian business visa is for a variety of business related activities such as attending a conference, business meetings and several other purposes. Those who like to travel to Australia for a short duration for business related reasons that do not require labor work or receiving payment from an Australian source can apply for a business visa. In case of business visa you should plan your travel well in advance and you should not purchase air tickets until you have received your visa. No matter how strong the case is, you should not automatically assume that you will get the Australian visa.
There are three types of Australian business visa:
- Business innovation and investment stream -188
- Business innovation and investment visa-888
- Business talent visa-132
The Business Innovation and Investment visa -188 is part of the Business Innovation and Investment Program of Australian business visa. This visa is for people who want to manage and own a new or existing business in Australia, or to invest in an Australian state or territory. The eligibility criteria for getting the Visa will be decided by a state or territory government agency and the application of the Visa would depend on the Minister for Immigration and Border Protection. This visa includes three streams:
Business Innovation stream: It is for people with business skills who want to develop, establish and manage a new or existing business in Australia.
Investor stream: It is for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia.
Significant Investor stream: It is for those who are willing to invest at least AUD5million into complying investments in Australia and want to maintain business and investment activity in Australia.
The Business Innovation and Investment visa- 888 is the second stage of the Business Innovation and Investment visa subclass-188 of Australian business visa. You can apply for it, once you have fulfilled the requirements of your provisional visa. This visa allows you to manage and own a business in Australia (the Business Innovation stream) and continue business and investment activity in Australia (the Investor stream and the Significant Investor stream). You will stand eligible to get this visa if you are nominated by a state or territory holding a provisional Business Innovation and Investment visa (subclass 188) and have met all the requirements of that visa in the stream in which you first applied. You also can avail this visa if you are holding a special category visa and you fulfilled the requirements of the business innovation stream.
The Business Talent visa-132 category of Australian business visa is a permanent residence visa for people who are nominated by an Australian state or territory government agencies. This type of Australian business visa allows you to establish a new or develop an existing business in the country. It has two streams:
Significant Business History stream: It is for high-profile business owners or part-owners who want to do business in Australia
Venture Capital Entrepreneur stream: It is people who have rooted venture capital funding from a member of the Australian Venture Capital Association Limited. You will be able to get this visa if you have personal assets of AUD1.5 million and annual turnover of at least AUD3 million.