The BIS stream is suitable for professionals, businessmen or investors:
Whether you look for relocation or business opportunities in Australia, Landmark can help you obtain strategic advice to overcome the legal hurdles, determine profitable opportunities and realise your goals.
Part I – Business Innovation Stream – Ideal migration pathway for high-income earners
The Business Innovation Stream subclass 188 (“BIS”) is one of the 6 main streams under the business migration scheme. This visa allows you to migrate to Australia for business purposes, including equity acquisition and direct involvement in a local business.
There are two visa types under business migration scheme: temporary visa (188) and permanent residency visa (888 and 132). Of which, BIS (188) is the gateway to your PR. It enables you to stay in Australia for five years and apply for permanent residency (“PR” in Australia or “Green card” in the U.S) after completing 1-year aggregate stay.
BIS is an ideal migration pathway
At first glance, BIS process might appear complex and lengthy. With sound planning, however, you can overcome these challenges easily.
BIS is the best option for professional and business owners because of its low opportunity cost and minimal disruption to your daily business activities:
BIS’s financial requirements are the lowest compared to other business and investment visas. You and your spouse must evidence net assets of minimum $800K (US$612K), including $200K investment in a business for 2 years. To be eligible for PR, you need meet two requirements:
With temporary work visa, you need to maintain employment with the business sponsor for 4 years to secure your citizenship. Whereas with BIS visa, Landmark will assist you in preparing all necessary arrangements with the invested business so you don’t have to worry about the entire visa process and focus on your business activities.
Compared to temporary work visa, all 188 visa streams including BIS have two downsides: longer visa processing time and longer wait time until PR. Therefore it is more suitable for professionals and entrepreneurs looking for long term planning with minimal disruption to their current business.
Key criteria for BIS application:
(*) Assets can be owned by you or your spouse
2. Having held ownership interest in the nominated business(es) for 2 years under one of the following options:
a. 51% share equities, if the business has less than $400K turnover/year; or
b. 30% share equities, if the business has $400K turnover/year;
3. Having had 2 years of direct management of the invested business(es)
4. Total revenue of maximum 2 invested businesses: $500K ($1.1M for Sydney) for each of 2 years before application
5. Meet 65 test points (See Volume 2 – Innovation Points Test)
Key criteria for PR application (subclass 888):
Call +617 3535 1235 or email email@example.com to be linked with migration experts and get advice on your visa plan. All enquiries will be responded within 48 hours.