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Business in Australia : Basics
BUSINESS INNOVATION AND INVESTMENT VISA (subclass 188)
This visa allows you to own and manage a business in Australia, conduct business and investment activity in Australia or undertake an entrepreneurial activity in Australia.
Basic Eligibility Requirements:
- Submit expression of interest (EOI) in SkillSelect
- Nominated by a State or Territory government agency or Austrade
- Invited to apply for the visa
There are several streams under this visa (Provisional) Subclass:
Business Innovation Stream: This visa is for people with business skills. It lets you operate a new or existing business in Australia.
Business innovation extension stream: This provisional visa lets holders of the Business Innovation and Investment (Provisional) visa (subclass 188) in the Business Innovation stream extend their stay in Australia for 2 more years, or up to 4 more years if COVID-19 concessions apply.
Investor Stream: This visa requires you to invest at least AUD1.5 million in an Australian State or Territory and maintain business or investment activity in Australia.
Significant Investor Stream: This visa requires an investment of at least AUD5 million in Australian investments that meet certain requirements and maintain investment activity in Australia.
Significant Investor Extension Stream: This provisional visa lets holders of a Business Innovation and Investment (Provisional) visa (subclass 188) Significant Investor stream holders extend their stay in Australia for up to 4 more years.
Premium Investor Stream: This provisional visa is for people who are nominated by Austrade and who invest at least AUD15 million in Australian investments and/or philanthropic contributions.
Entrepreneur Stream: This provisional visa lets you carry out entrepreneurial activities in Australia.
Please contact us to find out about other requirements and obligations associated with any of the business visas.
Basics of operating a business in AUstralia
- Planning and Business Structure
- Identifying less competitive sectors
- Performing local market research
- Target customers
- Cash flow
Main costs of establishment and operating a business in AUstralia
- Business Premises/site Construction/Purchase/Lease
- Employees Wages: Wages in Australia could be very high as compared to many other countries and is one of the biggest operating expenses.
- Merchandise and Stock
- Equipment Cost
- Other costs: Utility bills, training and certifications, insurances, legal costs, maintenance costs
To find out more, click the button below or email us at: info@aussieimmi.com.au
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