Australia,
the Land of Kangaroos, is largely dependent on skilled workers who prefer to
come to the country with the hope of better job prospects. These qualified
workers coming from different parts of the world largely influence the nation’s
thriving economy.
The
country is also a hot immigration destination
for those who wish to use their business skills and prosper. Its business
friendly environment encourages business people to be a part of the country.
If
you are one of those business people who think the country’s economy will help
you use your business skills, then you can apply for Business Innovation
and Investment (Provisional) (Sub-class 188) Visa. Initially, the
Department of Immigration and Border Protection (DIBP) will issues a visa with
a validity of up to four years.
You
must submit an Expression of Interest (EoI) and then be invited through the
SkillSelect. You may be nominated either by the territorial or state government
or by the Australian agency. You may also be invited to apply by the DIBP.
The
category is provisional in nature, and is given to those businessmen who wish
to start their own business or manage the existing one or else simply invest in
a business.
It
can be an easy path for those who wish to acquire the country’s Permanent
Residency (PR) and wish to permanently settle in the country along with
their family members.
The
category has three major streams and they are as follow:
- Business Innovation Stream: It is for those who wish to run their own business in
Oz.
- Investor Stream: It is for those who wish to make an investment of at
least AUD 1.5 million n a specific state or territory with the intention
of maintaining the business and continue investment even after the real
investment amount has matured.
- Significant Investor Stream: It is for those who wish to invest at least AUD 5
Million in an existing business and wish to grow it further even after the
real investment amount has matured.
Basic
Requirements
- You may submit your petition
once you have been invited to apply.
- You must hold a demonstrated
business record and should be a game changer when it comes to investment
activity.
- Have required asset and should
be able to prove when asked.
- You are nominated by a state or
territorial government.
- At the time of submitting the
application, you must be below 55 years of age unless you fall under the
exceptional economic category.
If
you receive an Invitation to Apply (ITA), you will get not more than 60 days to
apply for the visa online. During this time, you cannot change the information
provided through the EoI.
Although
you are not required to submit your documents along with your EoI, you will
have to complete extensive documentation while you apply for visa online. Due to
failure of submitting the required documents, your application may be rejected.
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