Do you run and own a successful business or have a history of successful investments in your home country?

If so a business visa may be a good option for you to obtain permanent residency in Australia. Previously there have been two types of business visas, the 132 (Business Talent) which is a permanent visa (This visa closed to new application on 1 July 2021) and the 188 (Business Innovation and Investment) (The Business Innovation and Investment Program (BIIP) is closed as of 31 July 2024). The 188 visa is a temporary visa that has an identified pathway that enables you to go on to a permanent residency visa (subclass 888). The 888 visa is still open to current 188 visa holders. There are numerous different visa streams within each of these visa categories. Which is the best stream for your particular circumstances will depend on your business background, personal and business assets and recent turnover of your business or investment.

In order to qualify for the permanent business visa (subclass 888), you will need to meet specific criteria whilst holding the temporary 188 visa. It is important to carefully consider what your goals and intentions are and be aware of what is required of you before commencing any application process. Along with meeting Department of Home Affairs regulations you will also be required to be nominated by a state/territory government. Each government has their own policies and preferences regarding the types of business activity that they are interested in supporting. It is essential to obtain their support in order to be able to proceed with an application.

The Department of Home Affairs will announce a new National Innovation Visa Program by the end of 2024. Thew new NIV visa will incorporate the best elements of the previous Global Talent visa and BIIP program.

Small World Migration can provide the professional guidance and support to ensure that the whole process is well managed and you know exactly what is required of you at every step of the way.

Owen Small, Managing Director at Small World Migration has extensive experience with the various business visa processes and requirements, having helped hundreds of business migrants make Australia home.