Business Innovation and Investment (Provisional) visa (Subclass 188) – Investor Stream Introductory Guide

Personal background
You must be under 50 years of age and have either:

• a bachelor’s degree recognised as equivalent to the Australian standard, or
• in the past 10 years have at least:
  • 5 years of successful investment history, or
  • 3 years work experience in a NSW target sector, or 
  • 5 years work experience in a non-target sector

Investment background
For at least one of the five most recent fiscal years, you have directly managed one of the following:

• a qualifying business in which you, your partner, or you and your partner together had at least 10% ownership interest, or
• an eligible investment of at least A$1,500,000 owned by you, your partner, or you and your partner together

Net assets
For the two most recent fiscal years, you, your partner, or you and your partner together have combined personal and business net assets of at least A$2,500,000.

Complying investments
You must make a complying significant investment of at least A$2,500,000 and have a genuine intention to hold that investment for the life of your provisional visa.
It must be invested in the following proportions:

• at least A$500,000 in venture capital and growth private equity funds which invest in start-ups and small private companies
• at least A$750,000 in approved managed funds. The managed funds must invest in emerging companies listed on the Australian Stock Exchange
• a ‘balancing investment’ of at least A$1,250,000 in managed funds

Investing in NSW
To qualify for NSW nomination, you must show that your complying investments will make a contribution to the NSW economy.
NSW will refuse your nomination application for a permanent visa (subclass 888) if you cannot show your complying investments meet the following criteria:

Venture Capital and Growth Private Equity investment
At least 50% of your venture capital component must be invested in:

• a venture capital fund investing in startups and
  small-to-medium enterprises in NSW, or
• a venture capital limited partnership that sources investments in NSW

Emerging companies
At least 50% of the emerging companies component must be invested in emerging companies listed on the Australian Stock Exchange that are headquartered in NSW.

Balancing investment
At least 50% of your balancing investments must bring benefits to NSW. This can be shown where:

• the funds have an office in NSW; or
• the business of underlying investment is headquartered in NSW; or
• the business activities of underlying investment are of economic benefit to NSW

Living in NSW
You must have a genuine commitment to reside in NSW and contribute to NSW through your investment activity.

Points test
Your SkillSelect EOI must show a minimum score of 65 points. Applications showing the following will be prioritised:

• Points in investor experience, or
• 35 points in financial assets, or
• Points for business innovation qualifications

NSW target sectors
Sydney
Sydney target sectors include:

• Advanced manufacturing
• Food and beverage manufacturing
• Agricultural technology
• Aerospace and defence
• Renewable energy and sustainability
• Emerging digital technology
• Cyber security
• Medtech

Regional NSW
Regional NSW target sectors include those for Sydney in addition to:

• Technology-enabled primary industries
• Critical minerals
• Recycling and waste management

You must be under 55 years of age

You must have a genuine commitment to establish a residence and reside on the State of Victoria

You must agree to make at least AUD$1.5 million with the Victorian treasury Corporation

You must make additional investment of at least AUD500,000 in Victoria for no less than 12 consecutive months immediately preceding the Business innovation and investment (Permanent) visa (subclass 888) investor stream nomination application.

You and your dependents must have available no less than AUD200,000 to settle in Victoria.

You will need to understand, read and agree to Victoria’s nomination obligations.

You must satisfy the abovementioned requirements imposed by the Department of Home Affairs

You must genuinely intend to live in Tas permanently and continue to contribute to Tasmania

You should have AUD$2.25 million transferable assets and agree to invest AUD$1.5 million in Tasmania Treasury bonds and maintain the investment for 4 years.

Maintain active business and investment activity in Tasmania during the visa period and after investment has matured

Must have had an overall successful business / investment career

Must have sufficient funds to settle in Tasmania

Evidence of net business and personal assets of at least AUD$2.25million to be transferred to Queensland within 2 years after granted your visa.

Make and maintain your designated investment of at least AUD$1.5million in Queensland Treasury Corporation Bonds for at least 4 years.

Commit to living in Queensland

Satisfy subclass 188 investment stream requirements imposed by the Department of Home Affairs

Intend to live in SA

Intended to invest at least AUD$1,500,000 into SAFA bonds for 4 years (applicants over 55 years must invest at least AUD$5,000,000 into SAFA for 4 years)

Agree to register your arrival in SA with Immigration SA and maintain current contact details for the duration of your visa.

You must enter into an agreement to either:

Invest a minimum AUD$500,000 into Significant Capital Ventures

You must satisfy the requirements imposed by the Department of Home Affairs

Able to transfer additional funds of AUD500,000 for your settlement and ongoing living costs in WA

You should maintain your funds in WA on maturity of your treasury bonds

Value of total net assets to be in WA: at least AUD$2 million of which at least 1.5 million must be invested into the Western Australia Treasury Corporation for 4 years

Proposed investment activities

Investment activities benefiting the NT can include:

• transfer of new capital
• generation of new employment
• generation of Indigenous employment
• expansion of trade in NT goods or services
• development of export markets for NT products or replacement of imports
• introduction of new skills, expertise, technologies or innovations
• investment in remote areas
• investment in a range of areas such as healthcare, education, tourism, mining and primary industries and fisheries
• have a significant flow on effect to other sectors of the economy.

You must have:

An understanding of Australia’s Northern Territory (NT) business and investment

• Showing you have researched the business and investment environment of the NT
• Showing you have an understanding of the legal and licensing framework for operating a business in the NT
• Having a history of dealing with NT businesses

Genuine intentions to actively pursue business or investment in the NT

• Social links to the NT, including relatives and associates
• Undertaking an exploratory visit to research establishing a business in the NT
• Having established a residence in the NT

Financial capacity and business acumen to support your activities

• Having an existing business in the NT