Are you looking to take your business internationally? If yes, Australia could be an excellent destination for you. The country has long been one of the most favourite business destinations of many Asians, Americans and European firms. The stable government and consistent economic growth are two factors that encourage investors to invest in Australia. The country is also keen to invite investors from every part of the world. Therefore, the Home Affair department offers provisional and permanent visa plans to investors. In this article, we will throw light on Business Innovation Investment visa which is a provisional visa plan. It is one of the most popular visa plans that attract investors. You can say that it is a doorway of a permanent business visa.
Business Innovation Investment Visa
The visa plan is valid for up to 4 year and 3 months. With this visa, investors are allowed to own and manage a business in Australia and perform all types of legal entrepreneur activities to make their business successful. There is no standard processing time of the visa. It falls into the Subclass 188.
The visa is categorized in several streams. Each stream has some unique requirements. There are some basic requirements that each stream has to follow.
Investors have to submit the Express of Interest or EOI in SkillSelect. It is mandatory because it helps to assess your intention to stay and start a business in the country.
It is mandatory to be nominated by a State or Territory government agency or Austrade. Without nomination, you are not considered eligible for the visa.
Once you are nominated, you will get invitation to apply for the visa.
These are three basic yet mandatory requirements to fulfil by the applicant side.