Update: State requirements for Business visas
Important Update – 2023-24 Business Migration programs
The Government has not provided South Australia with any nomination places for the Business Innovation and Investment Program (BIIP) in 2023–24.
Business or investor migrants who already hold a provisional visa (subclass 188) can apply for nomination for the extension stream or permanent (subclass 888) visa in 2023–24 as these are not subject to a cap.
This is a state nominated provisional residence visa for business owners, investors and entrepreneurs. It is the first step in a two-step pathway to permanent residency. There are four visa streams in this program to choose from.
Once open, who can apply for this visa?
This visa offers applicants the choice of four streams:
- Business Innovation stream: Successful business owners who want to undertake business in South Australia.
- Investor stream:Successful investors or business owners willing to invest and maintain AUD$2.5 million (AUD$3.75 million if over 55 years of age) into complying investment fund for the duration of the provisional visa.
- Significant Investor stream: People willing to invest AUD$5 million into a complying investment fund for the duration of the provisional visa.
- Entrepreneur stream: People who have support from a selected Service Provider to undertake a complying entrepreneurial activity that is proposed to lead to either the commercialisation of a product or service in South Australia or the development of a business in South Australia.
Pathway to permanent residency
After three years on a Business Innovation and Investment (Provisional) subclass 188 visa, you may be eligible to apply for the Business Innovation and Investment (Permanent) visa – subclass 888.
Business and Innovation stream (188A)
To be eligible to apply for visa nomination under the Victorian Business Innovation stream (subclass 188A) you must:
- be under 55 years of age,
- have achieved at least 65 points on the Australian Government’s points test for your Expression of Interest (EOI) in the Department of Home Affairs’ SkillSelect,
- demonstrate innovation capability,
- have at least 3 years of business experience,
- demonstrate your proposed business is within your area of expertise,
- be committed to establishing, operating and growing a Victorian business,
- be committed to meet the requirements for permanent residence, and
- meet the DHA 188 requirements including minimum financial requirements.
188 Visa different stream requirements for South Australia
Business Innovation Stream 188A
Important Update: Candidates seeking a Subclass 188A nomination are required to submit an ‘Intention to apply’ (ITA) for consideration.
ITA applications from high quality applicants, who can create genuine and sustainable business opportunities in South Australia, may be invited to apply for state nomination.
In 2022-23, Skilled & Business Migration will be prioritising applications from candidates who have proven experience in their proposed business and can demonstrate their proposal will exceed the minimum investment criteria.
To meet the South Australian nomination requirements you must:
- Meet the Department of Home Affairs subclass 188 Business Innovation stream visa criteria.
- Intend to live in South Australia.
- Score at least 80 points in the Department of Home Affairs’ points test.
- Provide a business plan detailing the viability and economic impact of your proposal to South Australia.
- If proposing an export business in South Australia, you must demonstrate proven export experience and relevant expertise in the products being exported.
- Propose an investment and/or business activity in South Australia that will meet the South Australian state nomination ‘benefit to state requirements‘ for the subclass 888 Business Innovation stream.
- Applicants aged 55 years or over at the time of invitation must demonstrate that the proposal will be of exceptional economic benefit to South Australia by meeting a higher investment threshold.
Additional Information
- The choice of investment and/or business activity is based on the client’s own preference; however, a business which is solely selling imports (including bringing product into South Australia from other States or Territories of Australia) will require substantial justification to demonstrate the benefit to state.
- Support for an application to the Department of Home Affairs to extend subclass 188 visa is at the discretion of Skilled & Business Migration.
- Approval for a proposed business undertaking property development is still at the discretion of Skilled & Business Migration for Subclasses 188 and 888. If you are a business owner who wishes to undertake property development as a business to meet state nomination requirements, please see the Property Development Pathways fact sheet for further information.
- South Australia will strictly manage the demand levels for certain business investments including – but not limited to – cafes, restaurants, convenience stores, beauty salons, service stations and retail stores.
- It is strongly recommended that applicants obtain professional legal and financial advice before undertaking any business or investment activity.
- Nomination is entirely at the discretion of the Government of South Australia. Meeting the minimum published requirements does not guarantee nomination by South Australia.
- Any duplicated applications will be automatically refused.
- Skilled & Business Migration will consider each application on its merits and the broader benefit to South Australia.
- Approval must be sought from Skilled & Business Migration in writing to change the business proposal of an approved State nomination application. Failure to gain approval will result in an application for the subclass 888 endorsement being refused.
Investor Stream 188B
To meet the South Australian nomination requirements you must:
- Meet Department of Home Affairs 188 investment stream criteria
- Intend to live in South Australia
- Agree to make and maintain an investment of AUD$2.5 million (AUD$3.75 million if over 55 year of age) for the duration of the provisional visa in a complying investment fund (CIF). The complying investment fund must materially benefit South Australia.
- This material benefit to South Australia could include demonstration of evidence of investment activities in South Australia at the Subclass 888 visa application stage either as part of the CIF or additional to it.
Additional Information
- Applicants who have between 55 and 65 points can apply for exceptional circumstances for the additional 10 points from the South Australian Government. These applications will be assessed on a case-by-case basis.
- The choice of investment options is based on the client’s own preference and Department of Home Affairs complying investment requirements.
- It is strongly recommended that applicants obtain professional legal and financial advice before investing or undertaking any business activity.
- The South Australian Government will not advise on any investment made or any business activity to be undertaken by the applicant, nor does it accept liability for any financial loss, cost of expense incurred as a result of any business decision, business activities or investments of the applicant or any person in any way connected with the significant investor program or otherwise.
- The Commonwealth and State Government require applicants to agree to not taking legal action against them for any loss of capital arising from the complying investment.
Significant Investor Stream 188C
To meet the South Australian nomination requirements you must:
- Meet Department of Home Affairs subclass 188 significant investor stream criteria.
- Intend to live in South Australia
- Agree to make and maintain an investment of AUD$5 million for the duration of the provisional visa in a complying investment fund (CIF). The complying investment fund must materially benefit South Australia.
- This material benefit to South Australia could include demonstration of evidence of investment activities in South Australia at the Subclass 888 visa application stage either as part of the CIF or additional to it.
Additional Information
- The choice of investment options is based on the client’s own preference and Department of Home Affairs complying investment requirements.
- It is strongly recommended that applicants obtain professional legal and financial advice before investing or undertaking any business activity.
- The South Australian Government will not advise on any investment made or any business activity to be undertaken by the applicant, nor does it accept liability for any financial loss, cost of expense incurred as a result of any business decision, business activities or investments of the applicant or any person in any way connected with the significant investor program or otherwise.
- The Commonwealth and State Government require applicants to agree to not taking legal action against them for any loss of capital arising from the complying investment.
Entrepreneur Stream 188E
To meet the South Australian nomination requirements you must:
- Meet the Department of Home Affairs Subclass 188 Entrepreneur stream visa criteria.
- Have competent English or be a passport holder or citizen of the United States, United Kingdom, Ireland, Canada or New Zealand.
- Intend to live in South Australia.
- Propose a business to be based in South Australia that has strong potential to achieve the Subclass 888 Entrepreneur stream Department of Home affairs visa criteria within 5 years, including the achievement of the success factors.
- Propose a business that has the potential to become a sustainable high-growth start-up, with the potential to employ South Australians.
- Priority will be given to proposals that support the strategic objectives of the Government of South Australia.
- Provide detailed information on the viability and economic impact of the proposal to South Australia. Further details are listed in the How to Apply section. Applicants aged 55 years or over at the time of invitation must demonstrate that the proposed entrepreneurial activity will be of exceptional economic benefit to South Australia.
- Agree to meet all other obligations to ensure that your state nomination remains current at the time you apply directly to the Department of Home Affairs for the Subclass 888 Entrepreneur visa.
- Secure the support of a selected Service Provider that has reviewed and approved your proposed entrepreneurial activity.
The South Australian service providers are:
- The Innovation & Collaboration Centre (ICC) – The Innovation & Collaboration Centre (ICC) is home to a collaborative community of entrepreneurs, with access to world-class mentoring, university research, prototyping labs, and business development support. A partnership between UniSA and the SA Government, the ICC is renowned for its ability to fast-track startup access to the Australian market, and for providing startups with connections to a global network of industry experts. The ICC has a tailored program for entrepreneurial visa holders, along with pre-eminent accelerator and incubator programs for space and high-tech startups.
- Stone & Chalk – The largest dedicated start up and scaleup innovation community in Australia with hubs in Sydney, Melbourne and Adelaide. In South Australia, Stone & Chalk is based at Lot Fourteen, the innovation precinct that is making global impact and is co-located with world leading organisations and startups such as Myriota, the Australian Institute for Machine Learning, Google and the Australian Space Agency.
- New Venture Institute (NVI) – Located in Australia’s most awarded Innovation District at Tonsley, Flinders New Venture Institute provides a range of programs and services to a vibrant community of startups and businesses in six focus sectors that reflect Flinders University’s areas of strength, growth, and research: Advanced Manufacturing; Creative Industries; Education; Energy, Water, and Sustainability; Health; Wine, Tourism, and AgTech. The institute is ideally placed to spark, enable, and develop business ideas from conception to industry advancement.
- Moonshots – Moonshot’s aim is to have start-ups with great business plans join us to work with our “been there doing it” Entrepreneurs to build globally scalable investable businesses. They love Creative, Space, BioTech, AI/Hi-Tech, AgTech, Education and Defence Industries and as long as people have a growth mindset where they come from is of no interest!
- ThincLab – ThincLab is powered by the Adelaide Business School and is the University of Adelaide’s flagship business incubator. It works with an extensive network of partners to help entrepreneurs launch and grow innovative companies. It has a global footprint with five locations, and has been supporting early stage and scaling entrepreneurs across all industry sectors for the last 28 years. ThincLab also has a specialist incubator for AgTech, Food and Wine innovations.
Current visa restrictions
- Holders of certain visas will not be eligible for endorsement by the South Australian Government, these include student visas (including subclasses 500, 570, 571, 572, 573, 574), Subclass 403 and Subclass 771.
- Subclass 485 visa holders may participate should the service provider assess they have an innovative idea and a strong business case.
Restricted activities
The proposed business activity must not relate to any of the following categories:
- Residential real estate
- Labour hire
- Purchase of an existing enterprise or a franchise in Australia
- Cafes and restaurants
- Consulting firms/companies
- Employment agencies
- Export/import businesses
Related:
- Upcoming Australia Immigration Changes 2022- Business and Investment Visas
- COVID-19 Concessions for Business visas
- 188A Business Innovation visa
- 188B Investor Visa
- 188C Significant Investor
- 188D Premium Investor visa
- 188E Entrepreneur visa
- 132 Business Talent (Permanent) Visa A | B
- Australia Business Visa (Subclass 188) Points Calculator (Instant)
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