For the 2022–23 program year, the Migration Queensland Business Program is open for applications. The Department of Home Affairs has provided limited interim nomination allocations to Migration Queensland.
If you want to apply for a Business Visa in Queensland, you must meet certain requirements. As Queensland has set eligibility criteria for its business migration program. Moreover, Queensland State nomination is a very challenging program. Therefore, you must comply with all the requirements to be nominated by Queensland.
So, let’s discuss the Business Visa streams and their eligibility criteria to apply in Queensland.
Business Innovation and Investment 188 Visa
Business Innovation and Investment Provisional Visa 188 is a state-nominated visa. It’s a provisional visa. You can stay for up to 5 years with this visa in Australia. As 188 Visa a temporary visa. So, if you successfully obtain this, it’ll be a pathway for you to get Business Innovation and Investment Permanent Visa 888.
Though, if you’re interested in applying for a 188 Visa but don’t understand the application process. Feel free to book a consultation with us for complete guidance.
Eligibility Criteria for 188 Visa!
If you want to be eligible for a Business Innovation and Investment visa nomination, you must first meet the eligibility criteria set by Home Affairs. In addition to that, you have to fulfill the eligibility requirements by Migration Queensland.
Here’s what you need to do for Business Innovation Stream 188.
- It is essential that you prove a sincere commitment to Queensland.
- Upon granting your visa, you must have at least $1.25 million in net business and personal assets.
After being granted a visa, you must invest in one or two qualifying businesses in Queensland.
- Business investment of at least A$400,000 is required if the planned business will be based in the Greater Brisbane and Gold Coast region.
- If the proposed business is to be established in regional Queensland, it will require a minimum investment of A$300,000.
- Developing international markets for Queensland products is essential for export businesses.
- General importation of products is not allowed unless they are unique, highly technological, or unavailable in Queensland. Additionally, you should offer value-added services to imported products. For example, customization, assembly, installation, testing, repair, and maintenance.
- No property development business will be accepted.
Queensland Business Program – Investor Stream 188
Queensland welcomes migrants looking to invest in compliance investment funds. Innovator Visa 188 is a stream of the Business Innovation and Investment program (188). It can lead you to permanent residency with the Business Innovation and Investment Permanent Visa 888.
Through Migration Queensland, the Queensland Government manages the state nomination for Investor stream 188 in coordination with Home Affairs.
What can you do to be Eligible for Investor Stream?
Queensland state nomination requires that you first meet Home Affairs’ eligibility criteria. Further, you must meet the requirements of Migration Queensland.
To be eligible, you must:
- Show that you are sincerely committed to Queensland.
- You must have a net worth of A$3 million ready to be transferred to Queensland, Australia. It includes at least A$2.5 million for the Complying Investment and A$500,000 for the Settlement.
Complying Investment Framework (CIF)
- 20% in Venture Capital & Growth Private Equity funds (VCPE) that are invested in startup companies and small businesses.
- 30% in approved managed funds that must be invested in growing companies listed on the Australian Stock Exchange.
- 50% in balancing investments of managed funds.
Significant Investor Stream 188
Migrants who want to make Complying investments in Australia are welcomed by Queensland. It is a state-nominated Visa that is valid for 5 years.
It is a stream of the Business Innovation and Investment (Provisional) Visa 188. Also, it’s a pathway to PR through the Business Innovation and Investment (Permanent) Visa 888.
If you want to be considered for Queensland state nomination, you must:
- Show a genuine commitment to Queensland.
- Minimum net assets of A$5 million are required. It will be invested in Complying Investment according to Complying Investment Framework (CIF)
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Queensland Business Program – Entrepreneur Stream 188!
In Queensland, startup and emerging entrepreneurs who have been encouraged to develop their ideas are welcomed. It’s a state-nominated visa. If you obtain this stream successfully, you can live for 5 years in Queensland.
- You must be younger than 55 years of age.
- It is essential for you to have at least Competent English.
- A startup or early-stage entrepreneur who intends to start a business based in Queensland that can grow rapidly and generate local employment can apply for this visa. It is important to describe a business plan that describes an entrepreneurial activity that results in the commercialization of a product or service.
Criteria for the key assessment include:
- The sincere commitment to Queensland
- The success of the business plan for your entrepreneurial activities
- Adequate funding available to execute your business plan
Do you want to apply for Queensland Business Program? – Final Words!
Applications are open for the Migration Queensland Business Program in the 2022–23 program year. You must meet the requirements of Queensland and Home Affairs in order to apply for a Business Visa in Queensland.
Is it your first time applying for a Business Visa in Queensland? If yes, feel free to book a consultation with us. We’ll help you with the complete application process.
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I’m Nasir Nawaz. I’m a registered migration consultant in Australia. I am based in Sydney. I’ve studied Master of Laws at the University of New South Wales. I’m providing immigration services for several years.
Consult with me for legal advice on Australian visas to permanently live, study, and work in Australia.