Fact Sheet 27 - Business Skills Migration
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Australia's Business Skills Program encourages successful business people to settle in Australia and use their proven skills to develop business activity in Australia.
Background
Business migrants contribute significantly to Australia's increasing global economy. They bring knowledge of overseas markets, business networks, cultural practices and languages other than English, as well as their specific business skills and experience.
Business migrants benefit Australia by:
- developing international markets
- transferring capital and making investments
- creating or maintaining employment
- exporting Australian goods and services
- introducing new or improved technology
- substituting Australian-made products for goods that would otherwise be imported
- adding to commercial activity and competitiveness within sectors of the Australian economy.
Source locations
In 2010-11 the top 10 source countries in the Business Skills category for Business Skills category were: China, the Republic of Korea, Malaysia, United Kingdom, South Africa, Taiwan, Hong Kong, Pakistan , Iran and Sri Lanka.
Structure of the Business Skills program
Most Business Skills migrants enter Australia on a provisional (temporary) visa for four years and after satisfactory evidence of a specified level of business or investment activity, may apply for permanent residence. These arrangements help with the entry of business owners, senior executives and investors.
Business migrants may apply for a Business Talent visa to get direct permanent residence if they have high level business skills and are sponsored by a state or territory government agency.
The Business Skills visa grant outcome for 2010-11 was 7796.
State specific initiatives
Australia is actively encouraging Business Skills entrants to set up businesses in regional, rural or low growth areas of Australia.
Applicants may seek sponsorship from a state or territory government. Sponsorship enables states and territories to attract the kinds of business people they are seeking to help in the economic development of their regions and provides access to concessional criteria. This also encourages applicants who are more committed to succeeding in business in Australia.
IIn 2010-11, the state and territory sponsored Business Skills outcome was 7556. This amounts to about 96.9 per cent of the total Business Skills outcome.
The Business Skills visa categories
1. Business Skills (Provisional) visas
A Business Skills (Provisional) visa is valid for four years. The subclasses of this visa are:
- Business Owner (Provisional) visa (subclass 160/163) is for people with a successful business career, including senior management or ownership, who have significant business assets and have a genuine and realistic commitment to participate as a principal in the management of a new or existing business. Applicants in this category may be sponsored by a state or territory government.
- Senior Executive (Provisional) visa (subclass 161/164) is for senior executive employees of major overseas businesses who have been responsible for strategic policy development affecting a major component or a wide range of operations of that business, who have significant net assets and a genuine and realistic commitment to participate as a principal in the management of a new or existing business. Applicants in this category may be sponsored by a state or territory government.
- Investor (Provisional) visa (subclass 162/165) is for investors/business people who have an overall successful record of business or investment activities, have significant net assets, are willing to invest funds in a designated investment in Australia for four years and have a genuine commitment to maintain business and investment activity in Australia. Applicants in this category may be sponsored by a state or territory government.
2. Business Skills (Residence) visas
A Business Skills (Residence) visa is the second stage of Business Skills entry for applicants wanting a permanent stay in Australia with a resident return facility valid for five years from the date of grant. The subclasses of this visa are:
- Business Owner (Residence) visa (subclass 890/892) is for people who hold a Business Skills (Provisional) visa and have had an ownership interest in a business in Australia for at least two years with significant personal and business assets turnover, as well as a minimum number of employees. Applicants must have been in Australia for at least one year in the two years immediately before applying. Applicants in this category may be sponsored by a state or territory government.
- Investor (Residence) visa (subclass 891/893) is for people who have held an Investor (Provisional) visa and a designated investment for the minimum four years, and who have lived in Australia for at least two years in the four years immediately before the application is made. Applicants in this category may be sponsored by a state or territory government.
3. Business Talent (Migrant) visa
The Business Talent (Migrant) (subclass 132) visa is for highly skilled business people who are owners or part owners of an overseas business and have an overall successful business career, significant business assets and have a genuine and realistic commitment to participate as a principal in the management of a new or existing business.
This category must be sponsored by a state or territory government. It comprises less than two per cent of the total Business Skills caseload.
After arrival-obligations of Business Skills visa holders
As well as the requirements that Provisional visa holders must meet to secure permanent residence, there are specific monitoring provisions and obligations that Business Talent visa holders must meet.
Business Talent visa holders must provide the Department of Immigration and Citizenship (the department) with a contact address within six months of their initial arrival.
Their progress is monitored after arrival and they will be sent a letter requesting details of their business activity 24 months after their initial arrival in Australia.
Where a Business Talent visa holder has not made a genuine effort to obtain a substantial ownership interest in an eligible business within three years of arrival, they may be liable for visa cancellation under section 134 of the Migration Act 1958.
Business Skills (Provisional) visa holders are required to obtain an ownership interest in a business in Australia or maintain their investment in Australia for four years. If this requirement is not met, they may not be eligible to apply for a Business Skills (Residence) visa and may have to leave Australia.
Further information is available on the department's website.
See: www.immi.gov.au
The department also operates a national general enquiries line.
Telephone: 131 881
Hours of operation: Monday to Friday from 8.30 am to 4.30 pm. Recorded information is available outside these hours.
Fact Sheet 27. Produced by the National Communications Branch, Department of Immigration and Citizenship, Canberra.
Last reviewed January 2012.
© Commonwealth of Australia 2009.