Australia Welcomes Successful Overseas Business People

The Australian Government understands that throughout the years international business people have considerably boosted the skills base of the Australian economy, expanded local business and export activity and created employment opportunities for Australians.

Despite the global economic slowdown, Australia continues to thrive and boasts one of the most developed and technologically advanced economies in the world. Located in the Asia-Pacific region, Australia is strategically positioned to offer business migrants an exciting edge and a chance for a better lifestyle.

Business Innovation and Investment Program

The Business Skills Program will be replaced by the Business Innovation and Investment Program on 1 July 2012.

 The reforms include the following key changes:

• renaming the Business Skills Program to the Business Innovation and Investment Program
• reducing the number of visa subclasses from 13 to three by:
o removing the independent visa categories and other underused visa subclasses such as the Established Business in Australia (subclass 845) and the Regional Established Business in Australia (subclass 846) visa, and
o absorbing the separate business owner and investor subclasses as streams of a single visa subclass
• integrating the new Business Innovation and Investment visas with the skilled migrant selection model, SkillSelect
• facilitating entry of entrepreneurs that have sourced venture capital funding in Australia
• introducing an innovation points test for provisional visa applicants
• granting access to flexibility provisions to achieve permanent residence and encourage innovative business
• increasing asset thresholds to better align with the Australian business community
• changing key visa criteria to improve the integrity of the program.

In addition to these reforms the department will be creating a visa pathway to provide for significant migrant investment into Australia.

Applicants must obtain State / Territory government sponsorship.

Each State and Territory government has their own criteria for deciding whom they will sponsor.

We can advise you about sponsorship requirements and contact State/Territory business development agencies on your behalf.