BSMQ Business Program is Open Now – 4 Visa Streams

Australia has tons of opportunities for skilled migrants. Also, it is a very prospective place for people who want to start a new business or want to invest in one. This is because Australia has all that is needed by a business to flourish and prosper. Its strong economy and its related industrial sector provide various opportunities for investment and launching one’s business ideas. Moreover, Australia greatly values and appreciates innovation and entrepreneurship. In this article, we will talk about the BSMQ Business Program that is now open.

Thus it is an amazing destination for entrepreneurs. Australia has many programs and visas through which entrepreneurs can come to Australia, learn about polishing their ideas, interact with possible investors and launch a startup in Australia.

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BSMQ Business Program

According to the latest news BSMQ Business Program is now open. This a very exciting news for those who are interested in starting a new business in Australia or want to invest in an already existing business. Here are some important points you need to know about this news:

BSMQ is now open and the priority will be given to the applicants of the following subclass Priority processing for:
- Subclass 188 Innovation Stream
- Subclass 132 Significant Business History Stream
- Subclass 188 Significant Investor Stream
- Subclass 188 Entrepreneur Stream

Also, the following businesses will be given priority:
- Businesses that will help in creating more jobs
- Or the ones that will support industries that have been affected by the pandemic.
- Also, the businesses located in regional Australia will be prioritized

Visa 491 small business owner stream only is also open. And the applicants are required to submit subclass 491 small business owner assessment form before the submission of the EOI

These are all the latest updates about the BSMQ Business Program that is now open. Now let’s have the look at the visa subclasses and their streams which are given priority under this program.

Visa Streams that will be given priority in the BSMQ Business Program

Here are the streams that will be prioritized under the BSMQ business program:

Business Innovation Scheme Subclass 188

Subclass 188 business innovation stream targets those who are successful in getting nominations by the state or an Australian territory. Through this visa stream, they can manage and run an already existing business or launch a start-up in that state or territory.

Eligibility conditions for this stream are:

The minimum score of the applicant in the point test is 65 points.
The business career of the applicant should be successful
The Applicant’s total assets should be AUD 800,000 or more.
Should have run and managed a successful business for at least 2 years and the turnover of that business should be at least AUD 500,000 or more per year.
Must have a nomination by a state or territory.
The applicant’s age must be less than 55 years
must know functional English
should meet all health and character conditions

Significant Investor Stream

Subclass 188 significant investor stream is for those people who can invest a minimum of AUD 5 million in an Australian state or territory to make an investment in an already existing business or to launch a new start up.

Eligibility conditions for this visa are given as below:

there should be an investment of at least AUD 5 million by the investor in an already existing business or a new business
Applicant’s total assets should be AUD 2.25 million at minimum
The only purpose of the applicant is to live and operate a business in Australia for 2 years at least.
Must have a nomination by a state or territory.
The applicant’s age must be less than 55 years
must know functional English
should meet all health and character conditions

Subclass 188 Entrepreneur stream

Subclass 188 entrepreneur stream targets those who have got funding of AUD 200,000 at a minimum from one of the authorized organizations. This funding should be received only to carry on entrepreneurial activities in Australia.

Eligibility requirements for this stream are:

The Applicant should have got funding of AUD 200,000 at a minimum from an authorized Australian organization
The only purpose of visiting Australia should be conducting entrepreneurial activities there.
Must have a nomination by a state or territory.
The applicant’s age must be less than 55 years
must know functional English
should meet all health and character conditions

Subclass 132 significant Business History Stream

Subclass 132 significant business history stream is a permanent visa. It is for experienced business owners with a significant history of successful businesses. It allows them to launch a new business or manage an already existing business in Australia.

The eligibility conditions of this visa stream are:

Applicant must:

The business career of the applicant should be successful
The Applicant’s total assets should be AUD 1.5 million or more.
Should have run and managed a successful business for at least 2 years & the turnover of that business should be at least AUD 3 million or more per year.
Must have a nomination by a state or territory.
The applicant’s age must be less than 55 years
know functional English
should meet all health and character conditions

This was all about BSMQ Business Program, You can visit the official Site of BSMQ here.

Small Business Program 2021-22 | Comparison of 3 States of Australia

This video goes over the eligibility criteria, types of businesses, business requirements, and an annual turnover in-depth for Tasmania’s, Queensland’s, and Canberra’s Small Business Programs under Subclass 190 & Subclass 491.

For more information on any of these Australian visa streams, you can book a first free consultation with our Migration Agents Australia now.

Nasir Nawaz

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.