Victorian visas for SA business professionals

There are a myriad of emotional and lifestyle push and pull factors which influence emigration and immigration. But for many people considering international relocation, the choice is a predominantly strategic one. And there are numerous opportunities available to businessmen, -women, entrepreneurs and investors in different territories.

One such location is Victoria in Australia which offers visas for professionals under the Australian government’s Business Innovation and Investment Program (BIIP). This visa is offered to professionals who have submitted an Expression of Interest (EOI) through SkillSelect and subsequently been nominated for the visa by a state or territory government or on behalf of the Victorian government.

BIIP visas

There are different business talent streams through which business professionals from South Africa can qualify for permanent Australian visas – each with its own qualifying criteria and mandates. These visas are granted under five broad categories.

Significant Business History

The Significant Business History visa is available to affluent business people with a successful business background. These applicants intend to fill major managerial roles in new or existing businesses in Australia.

Selection methods

• State nomination
• SkillSelect (DIAC)

Qualifying criteria

• Under 55 years  of age
• Net business assets ≥ AUD400 000 in at least two of the four fiscal years prior to application.
• Total assets ≥ AUD1.5 million which are legally transferrable to Australia within two years of the visa being granted.
• Total turnover ≥ AUD 3 million in one or more of your main businesses at least two of the four fiscal years before immigration.
• Minimum ownership of 51% if turnover < AUD400 000, 30% if turnover > AUD400 000 or 10% if publicly listed.
• Successful career track record.
• Genuine desire to own a maintain a management role in a business in Australia.
• Must participate in supplementary business activities in Victoria.

Venture Capital Entrepreneur

The Venture Capital Entrepreneurship via is for entrepreneurs who intend to fill major managerial roles in early-phase startups, product commercialisation or development of a new or existing business in Australia with a high value.

Selection methods

• State nomination
• SkillSelect (DIAC)

Qualifying criteria

• Applicant has entered into a legally enforceable agreement with an Australian company to receive venture capital funding for:
  • Early phase business startups
  • Product commercialisation
  • Business development
  • Business expansion
• Amount to be provided under the agreement is ≥ AUD 1 million.
• The Australian company is a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL).
• Net value of business and personal assets is sufficient for settlement in Australia.
• Applicant has a realistic commitment to:
  • Establishing a business in Australia or participating in an existing business
  • Maintaining a substantial ownership interest in a business
  • Maintaining a direct and continuous involvement in day to day management of the business and decisions affecting overall direction and performance of the business.
• Must participate in supplementary business activities in Victoria.

Business Innovation

Entrepreneurs who intend to fill major managerial roles in early-phase startups, product commercialisation or development of a new or existing business in Australia with a high value.

Selection methods

• State nomination
• SkillSelect (DIAC)
• Points test (DIAC)

Qualifying criteria

• Under 55 years of age
• Minimum score of 65 on innovation points test comprising:
  • Age
  • English proficiency
  • Qualifications
  • Assets
  • Turnover
  • Innovation
• Total assets ≥ AUD800 00
• Annual turnover of ≥ AUD 500 000 in one or more business in at least two of the four fiscal years prior to application.
• Minimum ownership of 51% if turnover < AUD400 000, 30% if turnover > AUD400 000 or 10% if publicly listed.
• Managed a business in which less than half of time was on professional, technical or trade services.
• Successful career track record.
• Genuine desire to own a maintain a management role in a business in Australia.
• Must participate in supplementary business activities in Australia.

Investor

The Investor visa is for business people with a successful investment or business background who make a designated investment and wish to continue their business or investment activity in Australia after a designated investment has matured.

Selection methods

• State nomination
• SkillSelect (DIAC)
• Points test (DIAC)

Qualifying criteria

• Under 55 years of age
• Minimum score of 65 on innovation points test comprising:
  • Age
  • English proficiency
  • Qualifications
  • Assets
  • Turnover
  • Innovation
• Minimum AUD 2.25 million assets.
• Successful investment or business activity record
• High level of investment or business management skill
• Minimum three years’ experience directly managing investments or businesses
• ≥ AUD 1.5 million designated investment income(TCV bonds) prior to visa grant
• Commitment to continue business or investment activity after designated investment has matured.
• Direct involvement for at least one of the five fiscal years prior to application in managing investments ≥ AUD 1.5 million or a business in with at least 10% total ownership.
• Must participate in supplementary business activities in Victoria.
• Designated investment in TCV bonds.

Significant Investor

Those business people with highly successful business or investment backgrounds will be interested in the Significant Investor visa.

Selection methods

• State nomination
• SkillSelect (DIAC)

Qualifying criteria

• No age limit.
• No requirements to meet innovation points test.
• Minimum residence requirement of 160 days spent in Australia in the four years following visa grant.
• ≥ AUD 5 million complying investment income prior to visa grant.
• Must participate in supplementary business activities in Victoria.
• Complying investments must benefit Victoria.
• Agree to contact from relevant VGBO or Invest advisors.

If you’re interested in working or investing in Australia, simply leave your details and we’ll call you back with more information.

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