The Australian government is committed to encouraging entrepreneurialism and innovation.
With this in mind, the government introduced the Business Skills program, aimed at providing a clearer pathway to permanent residence for persons who establish a business while temporarily resident in Australia. The program is aimed at:
• owners (or part-owners) of a business/es
• senior executives employed by major businesses who will use their business skills to obtain a substantial ownership interest in a new or existing business in Australia and actively participate in that business at a senior management level, or
• persons with a substantial business or investment background who are willing to invest in a designated investment in Australia.
This visa is for people or investors who have been successful in their business or investment operations and wish to move to Australia to participate in a business or invest in Australia. It is a 4 year visa and leads to a permanent visa (subclass 888) if certain criteria are met during the visa holders stay in Australia.
Business Innovation and Investment (Permanent) visa (subclass 888)
This visa is for holders of a subclass 188 or 444 visa who meet the criteria in one of the business or investor streams, to apply to remain in Australia on a permanent basis.
This visa allows a person who is outside Australia to apply to migrate on the basis of a high level of business expertise and an intention to engage in business in Australia.