If you are planning to invest or start a business in Australia, you may need to navigate the complex Australian immigration law to obtain a Business Innovation and Investment visa. Although the Australian government has streamlined the visa application process, it is still crucial to seek the guidance of an experienced immigration lawyer to ensure that your application is successful.
To help you out, this article will give you a quick overview of Australia’s Business Innovation and Investment visa types. We will discuss why you need an immigration lawyer for this kind of visa.
What Is a Business Innovation and Investment (Provisional) Visa?
The Business Innovation and Investment (Provisional) Visa, also known as the Subclass 188 Visa, is a temporary visa that allows business owners, investors and entrepreneurs to live and work in Australia for up to four years. The visa is part of the Business Innovation and Investment Program, which is designed to attract foreign investment and business talent to Australia.
There are different streams under the Subclass 188 Visa:
- Business Innovation Stream: For individuals who wish to establish, develop or manage a new or existing business in Australia.
- Investor Stream: For individuals who are willing to invest at least AUD 2.5 million in an Australian state or territory.
- Significant Investor Stream: For individuals who are willing to invest at least AUD 5 million in complying investments in Australia.
- Premium Investor Stream: For individuals who are willing to invest at least AUD 15 million in complying premium investments in Australia.
- Entrepreneur Stream: For individuals who have a funding agreement from a third party of at least AUD 200,000 to undertake a complying entrepreneur activity in Australia.
- Business Innovation Extension Stream: For holders of Business Innovation and Investment (Provisional) visa in the Business Innovation stream who want to prolong their stay in Australia.
- Significant Investor Extension stream: For holders of Business Innovation and Investment (Provisional) visa in the Significant Investor stream who want to stay in Australia for an additional four years.
Once the visa holder meets certain requirements, such as maintaining the requisite level of investment or business activity in Australia, they may be eligible to apply for permanent residency under the Business Innovation and Investment (Permanent) Visa (Subclass 888).
For more details about these visas, including eligibility requirements, costs and processing time, click here.
What Can an Immigration Lawyer Do for You?
Applying for a Business Innovation and Investment visa in Australia can be a daunting task, especially if you are not familiar with the legal system or the visa application process. Having an immigration lawyer by your side can provide you with peace of mind, knowing that your visa application is in good hands.
Your immigration lawyer or visa lawyers in Australia can provide advice on the visa conditions that come with your visa, such as the required investment, business activity and other obligations that you must fulfill to maintain your visa status in Australia. Failing to comply with these obligations can result in the cancellation of your visa, which can have serious consequences for your business operations in Australia.
Immigration lawyers can also keep you updated on the progress of your visa application, advise you on any issues that may arise and provide you with guidance and support throughout the process. This can alleviate the stress and uncertainty that often comes with applying for a visa and ensure that your application is successful.
Here’s a list of what an immigration lawyer can do for you:
- Provide an overview of the visa application process and requirements
- Advise you on the most suitable visa type for your business needs
- Assist in preparing and submitting your visa application
- Review and provide feedback on your business plan
- Advise on the investment requirements and assist in sourcing suitable investment opportunities
- Provide guidance on compliance with relevant laws and regulations
- Liaise with the Department of Home Affairs on your behalf
- Prepare and submit any necessary appeals or reviews in the event of a visa refusal
- Advise on the obligations that come with your visa, such as business activity and investment requirements, and ensure that you are compliant with them
- Provide ongoing support throughout the visa application process and after your visa has been granted.
How Madison Marcus Can Help You
Obtaining a Business Innovation and Investment visa in Australia can be a challenging task, and navigating the Australian immigration law can be confusing and time-consuming. By working with an experienced immigration lawyer, you can ensure that your visa application is successful, and your business operations in Australia are compliant with the relevant regulations.
At Madison Marcus, we have a team of experienced immigration lawyers who can provide you with guidance and support throughout the visa application process. We have the expertise, network and motivation to assist you with various aspects of global mobility and immigration. Being a multilingual firm, we can effectively communicate with and comprehend the needs of our clients from diverse backgrounds. Our services extend to overcoming challenges, such as cultural nuances, policy modifications and political instability to attain favorable results.
For all enquiries, contact us here.
