Visa Cancellation

Brief introduction: This provisional visa is for people with business skills. It lets you operate a new or existing business in Australia.

1. Visa requirements:

• Score at least 65 on the points test
• Provide proof of your business success (annual turnover, ownership stake)
• You, your partner, or you and your partner together, have total net business and personal assets of at least AUD800,000

2. Apply for 888A permanent resident visa:

• Hold a Business Innovation and Investment (Provisional) visa in the Business Innovation stream, a Business Innovation and Investment (Provisional) visa in the Business Innovation Extension stream, a Special Category visa, or, in some cases, a subclass 457 visa
• Meet certain business requirements
• Have a current nomination from an Australian state or territory government agency

Brief introduction: This provisional visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia.

1. Visa requirements:

• Make an investment of AUD1.5 million in an Australian State or Territory
• Score at least 65 on the points test
• Have net business, investment and personal assets of at least AUD2.25 million

2. Apply for 888B permanent resident visa:

• Hold a Business Innovation and Investment (Provisional) visa in the Investor stream
• Meet certain investment requirements related to your provisional visa
• Have a current nomination from an Australian state or territory

Brief introduction: This provisional visa is for people who invest at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.

1. Visa requirements:

• Be invited to apply for this visa
• Be nominated by a State or Territory government agency or Austrade to invest at least AUD5 million that meets certain requirements and have a genuine intention to hold that investment for at least for 4 years
• ]Have a genuine intention to live in the State or Territory whose government agency nominates you

2. Apply for 888C permanent resident visa:

• Hold a Business Innovation and Investment (Provisional) (subclass 188) visa in the Significant Investor stream or Significant Investor Extension stream, or
• Have held your investment (made in connection with your subclass 188 visa) for the whole of the time that you held your subclass 188 visa
• Have a current nomination from a state or territory government agency or Austrade which has not been withdrawn

Brief introduction: This visa is for experienced business owners, to operate a new or existing business in Australia.

1. Visa requirements:

• A net value of at least AUD1.5 million (lawfully acquired)
• An annual business turnover of at least AUD3 million for at least 2 of the 4 fiscal years immediately before you are invited to apply
• A total net asset of at least AUD400,000 as the ownership interest in one or more qualifying businesses for least 2 of the 4 fiscal years immediately before you are invited to apply

Brief introduction: This visa is for people who have sourced venture capital funding from a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)). The visa lets you operate a new or existing business in Australia.

1. Visa requirements:

• You must have funding of at least AUD1 million from an Australian venture capital firm.