The Queensland Business Migration Program is currently open and will remain so until the visa quota has been filled. Queensland is becoming one of the most popular destination for business owners and investors as the world looks to recover from the COVID pandemic.
Why choose Queensland?
If you are a Queenslander or have lived here for some time the answer is simple. It is the best place to live.
Apart from its diverse natural landscapes including beaches, rainforests, the great barrier reef, the glorious outback and magnificent mountains down to unbelievable islands – it is aesthetically beautiful.
Match that to its booming and diverse economy built upon mining, agriculture, tourism and financial services with exports including coal, metals, meat and sugar, the future is very bright for the State.
Queensland celebrates and encourages its multicultural community and is regarded as a multicultural success story.
Queensland has had a strong history of migration, including the first settlers, refugees displaced by conflict and many generations of migrants from across the globe.
People from more than 220 countries and territories now call Queensland home.
Multiculturalism is one of Queensland’s greatest strengths. Harnessing the benefits of our diversity and creating equality of opportunity for all.
Business Innovation and Investment (Provisional) visa (subclass 188)
The Business Innovation and Investment (Provisional) visa (subclass 188) visa is a state-nominated five-year provisional visa.
Once you meet certain requirements whilst you are on the subclass 188 you can apply for a Business Innovation and Investment (Permanent) visa (subclass 888).
If you are supported by the Queensland Government you must then apply to the Australian Federal Government for the grant of the visa.
This visa allows you to bring eligible family members with you.
The Queensland Government is currently seeking applicants for the following three streams of the subclass 188 visa:
- Business Innovation
- Investor
- Significant Investor
Business Innovation
This visa allows you to own and operate a new or existing business in Australia.
Both you and your partner must have total net business and personal assets of at least $1.25 million AUD and pass a points test.
Once the visa is granted you can stay in Australia for up to 5 years and there is a possibility to extend that whilst you seek to ensure your business grows and meets the requirements to get a permanent visa.
Whilst you hold this visa you must:
- have a substantial ownership interest in a business in Australia
- take part in its day-to-day management, at a senior level
You must do at least one of these things:
- add to commercial activity and competitiveness within the Australian economy
- develop business links with international markets
- employ people in Australia
- export Australian goods
- introduce new or improved technology, or
- produce goods or services that Australia would otherwise import
The Queensland Government requires an applicant to:
- demonstrate a genuine commitment to Queensland.
- have net business and personal assets of at least $1.25 million AUD ready to be transferred to Queensland after the grant of the visa.
- invest in one or two qualifying business(es) in Queensland after being granted the visa:
- business investment of at least $400,000 AUD if the proposed business will be established in the Greater Brisbane and Gold Coast regions; OR
- business investment of at least $300,000 AUD if the proposed business will be established in regional Queensland.
If you are considering an export business you must develop international markets for Queensland products. Generally importing businesses will not be considered unless the products are highly innovative or based on advanced technology. Please note property development businesses are not considered by the Queensland Government.
You will be required to complete a business proposal and it should be well researched and detailed.
Investor
Like the Business Innovation visa this is granted for a period of 5 years and if you comply you can apply for a permanent visa after 3 years. This visa cannot be extended.
The Queensland Government requires an applicant to:
- demonstrate a genuine commitment to Queensland.
- have net business and personal assets of at least $ AUD $3 million ready to be transferred to Queensland, Australia (including $ AUD $2.5 million for Complying Investment and $ AUD $500,000 for Settlement in Queensland).
The money has to be invested as follows:
- 20% in Venture Capital & Growth Private Equity funds (VCPE) that invest in start-ups and small private companies.
- 30% in approved managed funds that must invest in emerging companies listed on the Australian Stock Exchange.
- 50% in balancing investments of managed funds.
After holding this provisional visa for 3 years, you may be eligible to apply for the permanent residency subclass 888 visa.
The subclass 188 – Investor stream cannot be extended.
Significant Investor
Like the Investor visa this is granted for a period of 5 years and if you comply you can apply for a permanent visa after 3 years.
This visa unlike the Investor visa can be extended for up to two periods of 2 years.
The Queensland Government requires an applicant to:
- demonstrate a genuine commitment to Queensland.
- have net business and personal assets of at least $5 million AUD, which will be invested in Complying Investment in accordance to Complying Investment Framework (CIF)
The money has to be invested as follows:
- 20% in Venture Capital & Growth Private Equity funds (VCPE) that invest in start-ups and small private companies.
- 30% in approved managed funds that must invest in emerging companies listed on the Australian Stock Exchange (ASX).
- 50% in balancing investments of managed funds.
After holding this provisional visa for 3 years, you may be eligible to apply for the permanent residency subclass 888 visa.
How can FC Lawyers help?
Our expert team including Accredited Specialists in Immigration law have over 25 years’ experience assisting businesspeople and investors to settle in Queensland.
We understand the Queensland State Government requirements and have worked closely with Migration Queensland to obtain sponsorship for many clients.
Our team does not only assist with the visa process we have a responsive and experienced business and corporate team that assist with all the requirements to satisfy your business and investment obligations.
If you have any questions or would like to discuss your plans to live work and invest in Queensland, contact our team today.
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