You can apply for this permanent residency visa if you are the holder of a Business Innovation and Investment (Provisional) Visa granted under the Entrepreneur Stream and have met all the requirements of your provisional visa.
State / Territory Nomination
To apply for this visa, you must first be nominated by a state or territory government, which will generally the state or territory government who nominated you for your provisional business visa.
The requirements under this stream are that you must have you must:
1. have been in Australia and held your provisional visa for a continuous period of at least four years immediately before you apply; and
2. be able to demonstrate a “Successful Record of Entrepreneurial Activity” in Australia.
Successful Record of Entrepreneurial Activity
A successful record of entrepreneurial activity is measured by the Department of Immigration and Border Protection (DIBP) according to the presence of “key success factors” and “supporting success factors”.
You need to demonstrate:
1. the completion of at least two key success factors; or
2. a combination of one key success factor and three supporting success factors.
Key Success Factors
This can include:
1. employing two or more Australians;
2. generating an annual turnover of at least AUD300 000;
3. filing a provisional patent or acquiring a standard or innovation patent;
4. receiving ongoing funding or investment in your entrepreneur activity;
5. entering into a partnership with an Australian University; or
6. selling an entrepreneurial venture for AUD2,000,000.
Supporting Success Factors
This can include:
1. diversifying entrepreneurial activities into other business areas;
2. receiving a statement of success from a state or territory government nominator;
3. receiving sponsorship from the corporate sector;
4. starting at least one other business or contributing to at least two other businesses in Australia;
5. receiving formal awards or recognition; or
6. raising or contributing to social capital.
If you wish to apply for this visa, please contact one of our experienced immigration lawyers.
These applications require a lot of information and documentation. We will ensure your application is structured in such a way that it is given the best prospects of success.
We offer all our prospective clients an initial meeting, during which we will thoroughly explain the law surrounding this visa to you and inform you of the process moving forward.
To organize a initial consultation with us, please contact one of our experienced immigration lawyers on (02) 9590 3987.