Business Visa in QLD: 188 and 888 visa, 491 visa

Business Visa in QLD offers a great opportunity for migrant business owners to start and operate their own business or investment ventures.  There are a number of business visa options, and depending on your circumstances and qualities you should be able to apply for permanent business visas or a temporary visa that would allow you to legally operate your business in Queensland.

We understand an investment or setting up your own business can be quite difficult on its own let alone as a migrant. Therefore, at Path Migration, we have helped many clients from several countries set up their businesses in different states of Australia. We have had clients from Bangladesh, Hong Kong, India and Sri Lanka, to name only a few, who currently have very successful businesses running in Australia in different industries, including education, IT, etc. Therefore if you want to know more about how to get a successful application you can check out the rest of this write up, and for personalized professional consultation you can reach out to us any time.

Business Visa in QLD: Why Invest in Queensland?

Before we address the more complex questions, we believe that it’s very important that you should know why you’d want to invest in Queensland. Aside from being called the Sunshine state for it’s beautiful weather and having the most thriving tourism industry, it also has so much more to offer. It provides your business and investment venture to do greatly with the following qualities:

• A very stable and resilient economy.
• A government that actively engages and implements policies to help businesses and to bring in more investments.
• Although the world is still recovering from the growth lags ensued by Covid -19, Queensland has quite a strong forecast for a substantial growth.
• As someone with business acumen you must know the intense pressure for the businesses to cover the perpetual operating cost. Well, we are delighted to disclose that Queensland has relatively lower operating costs. Therefore, you would have the flexibility to use your revenue for more sustainable business activities, like investing in your brand or getting more assets.
• Surrounded by world-class universities and different industries, you would always have access to a highly trained, experienced and diverse workforce for your business.
• In fact, we are pleased to report that as an Asia Pacific location, Queensland makes quite a great strategic move on your part to attract investments for your business.

We hope the brief lists of reasoning have at least sparked a curiosity in you to look further into this and finally get the Business Visa in QLD to help you operate in your dream business.

Business Visa in QLD: State Nominated Visa Options

There are actually quite a few options available for Business Visa in QLD you to choose from. It is important to note here that before you can apply for a business visa in QLD, you would first need an invitation from the state. All the nominations form the Queensland Government are processed by Migration Queensland; more on this will be discussed in subsequent sections.

The Business Visa in QLD that allows you to legally enter operate your business or make an investment in Queensland are as follows:

• Business Innovation and Investment (Provisional) visa (Subclass 188)

• Business Innovation and Investment (Permanent) visa (Subclass 888)

• Skilled Work Regional (Provisional) visa (Subclass 491)

• Investor Retirement (Temporary) visa (Subclass 405) Renewal

Please be aware that from July 1st 2021, the Business Talent (Permanent) visa (Subclass 132) has been closed to all the new applicants. Therefore, the new applicants now need to apply for any one of the above Business Visa in QLD.

 

Business Innovation and Investment (Provisional) visa (Subclass 188) 

This is a state-nominated Business Visa in QLD that allows you to run your business or make an investment in Queensland for 5 years. Although it’s a provisional visa, it’s a good option to choose when you aren’t able to meet the demanding minimum requirements of the Subclass 888. Moreover, it helps create a pathway to transition to the permanent visa later on.

In order to apply for this visa, you’d need to apply under the following streams:

• Business innovation Stream: This is designed for individuals who want to own and operate a new business or an existing business in Queensland.
• Investor Stream: If you are someone looking for investment ventures and instruments, instead of running a business then this stream would be a good fit for you. For example investments under this stream would look like investments in Queensland Treasury Corporation (QTC) bonds. For those of you wondering what QTC- its Queensland’s corporate treasury service provider. For more information on Queensland Bond and how to invest in it, look here.
• Significant Investor Stream: This stream is designed for investors who are looking to invest at least AUD 5 million, in Complying Investment according to the Complying Investment Framework (CIF).
• Entrepreneur Stream: This stream targets start-ups and the entrepreneurs who are at their early stage. It’s important to note here, that even if this sounds like you, you would first need an endorsement to develop your concept to be able to apply under this stream.

Subclass 188 Eligibility Criteria

Depending on the stream, the eligibility criteria for Subclass 188 is going to vary. In order to secure this visa, you’d need to meet the minimum eligibility requirements set by both the Department of Home Affairs and the Migration Queensland.

The table below outlines the eligibility criteria for the 188 Subclass Business Visa in QLD:

Criteria	Business Innovation	Investor	Significant Investor	Entrepreneur
Point Test Score	At least 65	At least 65	No Test	At least 65
English	Functional	Functional	Functional	Competent
Age	Under 55	Under 55	No limit	Under 55
Australian Government Debt	None	None	None	None
Net Personal and Business Assets	AUD1.25 million to be transferred to Qld within 3 years.	AUD3 million to be transferred to Qld in the following breakdown: – AUD2.5 million for Complying Investment – AUD 500,000 for Settlement in Qld	AUD5 million to be invested in Complying Investment	–
Business	– Invest at least AUD 400,000 in Greater Brisbane and Gold Coast – Invest at least AUD 300,000 in regional Qld.	Complying Investment Framework (CIF) – 20% in Venture Capital & Growth Private Equity funds (VCPE) – 30% in approved managed funds – 50% in balancing investments	Complying Investment Framework (CIF) – 20% in Venture Capital & Growth Private Equity funds (VCPE) – 30% in approved managed funds – 50% in balancing investments	A complying entrepreneur activity must relate to an innovative idea that will lead to: –  the commercialisation of a product or service in Australia, or -the development of an enterprise or business in Australia
Special Endorsement				Need Endorsement

 

Business Innovation and Investment (Permanent) visa (Subclass 888) 

If you have already held the 188 visa, this is the subsequent Business Visa in QLD that you can apply for, which should allow you to continue your business and investment ventures in Qld on a permanent basis. Like the previous visa, this permanent subclass also comes with a choice of four streams.

In order to apply for this visa, you’d need to apply under the following streams:

• Business innovation Stream: If you have held the following visa categories, you can apply for this visa.
  • Subclass 188: Business Innovation Stream
  • Subclass 188: Business Innovation Extension Stream
  • Subclass 444: Special Category Visa
  • Subclass 457: Business (Long Stay) Visa
• Investor Stream: It’s for the investors to continue their investments.
• Significant Investor Stream: It’s for the investors to continue their investments.
• Entrepreneur Stream: If you have held the following visa categories, you can apply for this visa.
  • Subclass 888: Entrepreneur Stream
  • Subclass 188: Entrepreneur Stream

Subclass 888 Eligibility Criteria

To be eligible you usually need to be the holder of Subclass 188 and other categories of Business Visa in QLD mentioned in the prior section, along with meeting the following requirements set by the Department of Home Affairs and Migration Queensland.

Criteria	Business Innovation	Investor	Significant Investor	Entrepreneur
English	Functional	Functional	Functional	Functional
Au Government Debt	None	None	None	None
Business	Own and manage 1 or 2 businesses.	Have held your designated investment for at least 4 years.	Have held your designated investment for at least 4 years	Successful record of Entrepreneurial activities
Annual Business Turnover	AUD 300,000 in the 12 months prior to application	–	–	AUD 300,000 in the 12 months prior to application
Business and Personal Asset	– Assets of AUD200,000 net value in your main business – Personal and business assets of AUD600,000 net value	–	–	Filing a provisional patent or acquiring a standard or innovation patent
Employee requirement	– At least 2 full-time employee – Employees must be Australian citizens, Australian permanent residents, or New Zealand citizen	–	–	– At least 2 employee – Employees must be Australian citizens, Australian permanent residents, or other eligible persons

Skilled Work Regional (Provisional) visa (Subclass 491)

If you are a small business owner in regional Qld, you can apply for this visa under the Small business owners in regional Queensland stream. If approved for this Business Visa in QLD, you will be able to live and operate your business in regional Qld for 5 years. Like the previous visa categories, this visa is also based on point test score and requires state nominations. More information on eligibility conditions are available below.

Subclass 491 Eligibility Criteria

In order to apply for this provisional visa (Subclass 491) you need to meet the minimum eligibility requirement set by both the Department of Home Affairs and the Migration Queensland.

 

Criteria	Minimum Requirement
Point Test Score	At least 65
English	Competent
Age	Under 45
Occupation	Needs to be listed on the Legislative Instrument
Business	– Purchase a business for a minimum of $100,000, or – Operate a start-up for at least 2 years with an annual turnover of AUD200,000 in the year prior to the application.
Business Ownership	– 100% business ownership
Business Operation	Operate a successful business for – at least 6 months prior to EOI, or – at least 2 years for start-ups
Annual Business Turnover	AUD 300,000 in the 12 months prior to application
Business and Personal Asset	– Assets of AUD200,000 net value in your main business – Personal and business assets of AUD600,000 net value
Employee requirement	– At least 1 employee – Employees must be an Australian resident – Work a minimum of 20 hours per week

Subclass 491 also has other streams to apply under. To know more about the other streams under Skilled Work Regional (Provisional) Visa (Subclass 491) and Skilled Nominated Permanent Visa (Subclass 190), you look here.

Investor Retirement (Temporary) visa (Subclass 405) Renewal

If you have held a Retirement visa (Subclass 410) or Investment Retirement visa (Subclass 405), you can apply for a renewal by emailing (migration@qld.gov.au) the Migration Queensland . You would need to provide the following information:

• Your full name 
• You date of birth
• Your current visa expiry date

After you have sent your email, the Migration Queensland will get back to you with all the necessary documents to lodge your renewal application.

How to apply for Subclass 188, 888 and 491?

Step 1

Before you start with anything you need to vigorously check:

• The minimum eligibility requirement and visa conditions set by both the Department of Home Affairs and the Migration Queensland for the Business Visa in QLD.
• Get a good idea on the document checklist.
• Prepare all the necessary documents.
• Start with the preparation beforehand so that you don’t miss any important deadlines.

Step 2

You need to submit an Expression of Interest (EOI) for the appropriate Business Visa in QLD , for Migration Queensland to evaluate whether you qualify for state nomination or not.

• You need to submit the EOI on SkillSelect.
• Include your work experience and all other relevant information, more is discussed in the subsequent step.
• Make sure to select “Queensland ”as your nominating state, as applications with specified states will be given priority over those with “Any”.

Step 3

If you’re applying for a Skilled Work Regional (Provisional) visa (Subclass 491) under the Small business owners in regional Queensland stream, then you need to submit the following form:

• Submit the online 491- Small Business Owner Assessment form

Step 4

After your EOI for the appropriate Business Visa in QLD has been evaluated by Migration Queensland, if you qualify for the nomination you’ll be notified via an email invitation. The email invitation will ask you to lodge an application and provide the following documents. All the documents need to be uploaded digitally via the Document Portal link on your email invitation.

• Queensland State Nomination Application Form
• Business Proposal
• Home Affairs Form 1139A

Step 5

Once your application and provided documents have been assessed and approved you will receive an invitation from Migration Queensland. Following the invitation you will need to do the follow:

• Upload all the required documents
• After all the documents are successfully uploaded, you need to make payment of the non-refundable application fee to finalize your application.

Step 6

If the Queensland Migration approved your completed application, you should receive an invitation from the Department of Home Affairs to lodge your visa application for the requested Business Visa in QLD. You would need to complete your application within 60 days from the date of invitation.

It’s important to note that if you miss any of the lodgement dates, you would need to restart the whole application process for Business Visa in QLD and you need to wait for 6 months before you can apply again.

What we can do for you?

If you are worried where to start or achieve the right Business Visa in QLD or other states or territories then we can assure you that you are in the right place. At Path Migration, we have already helped new and seasoned investors and entrepreneurs to set up their business all over Australia. We have a team of immigration lawyers who are specialized in this field. Aside from having an in-house chartered accountant, we also partner with various industry stakeholders to provide you with a holistic service. We also handle visa refusals and visa cancellation cases. If that happened to you, you mustn’t waste any time and get in touch as soon as possible as these are very time-sensitive cases.

If you sound like someone who would benefit from our wide network of industry specialists and would like to put forward the best application for your Business Visa in QLD, then you can contact us or directly email to hello@pathmigration.com.

You may also be interested in:

• Queensland’s Skilled Migration Program- 190 visa and 491 visa

• Business and Investor visas in NSW

• How to Set Up a Company in Australia?

• Employer’s Guide For Foreign Workers Sponsorship Under the 482 Visa Stream

• Skilled Migration Visas For Australia