From the MD’s Desk
April 2020

As we move through uncertain times, we hope you are well, safe and in good health.

As a migrant or visa applicant, you certainly do not wish to put your hard earned money at risk before obtaining your visa grant.

Business Innovation Stream
Australia Business Innovation Visa, often referred to as Subclass 188a, does not require an investment before the visa is granted. The visa holder is required to engage in business activity for at least 2 years, hold at least 30% of business share interest and be nominated by an Australian State or Territory government. To be nominated, the applicant must have owned a business with a turnover of at least AU$ 500,000 for two of the past four fiscal years, while having net personal and business assets of at least AU$ 800,000 as a basis of visa grant.

The visa is granted to the applicant and the family members for four years and three months as a Temporary Resident. The visa applicant can get a permanent residency after running the business in Australia for two years.

“This is one of the most popular business visa for Australia,” said Licensed Immigration agent, Desmond Ang of Global Migration Solutions.

Australia also offers investment programs which include the Investor Stream, Subclass 188b and Significant Investor stream, Subclass 188c. Successful investors are granted a provisional visa, which is the first step towards permanent residency.

Investor Stream
Under the Investor Stream of Subclass 188b, an investment of AU$1.5 million is required into a government bond. The applicant opting for this Investor Stream should be under the age of 55, with at least 65 on a points test and must have ‘eligible investments owned by the visa applicant, the partner or combined investments of at least AUD1.5 million’ which have been actively managed by them.

Significant Investor Stream
The Significant Investor stream of subclass 188c requires an AU$5 million investment over four years and dispersed throughout certain specified funds. This includes venture capital and growth private equity funds that invest in start-ups and small companies, along with funds investing in emerging companies listed on the Australian Stock Exchange.

This category is particularly attractive to certain visa applicants who might otherwise not pass the points test due to their age or English ability. This category also does not require any intention to manage a business or investments in Australia, other than to retain their complying significant investments.

Significant Investors are required to live in the state or territory, nominated to them by the government agency, for a minimum of 40 days per year.

The investor stream programs require the applicant to make their investment only when the visa is ready for approval.

Among the business and investment programs that are being offered by respective countries, Australia is among the highest regulated one, with the interest of the visa applicant protected. Their eligibility can be clearly determined prior to the submission and no investment is required until the visa is granted. The processing time can take up to 2 years for the granting of these visas.

Sincerely,
Desmond Ang
MARA 1461243
Managing Director, Global Migration Solutions Sdn Bhd