Migration Tasmania

for business and skilled migrants

Tasmania is a world class location for scientists to undertake research and work in the areas of oceanography, Antarctica and climate science.

Saurabh Rathore

Subclass 188/888 – Business Innovation and Investor

Overview

The Business Migration Program aims to attract people with a demonstrated record of business or investment activity who want to operate and invest in a business in Tasmania.

The Tasmanian Government actively supports the establishment and relocation of businesses to the state. It recognises the significant contribution business and skilled migrants make to Tasmania’s economic growth and cultural diversity.

Tasmania has a diverse economy with a reputation for world-class food and beverage production and a booming and award winning tourism industry among a number of key industries.

Aquaculture and Agriculture
Minerals and mining industry
Forestry and timber
Antarctic and marine science 
Information and communications technology
Creative industry

Business Innovation and Investor Program subclass 188/888 visa

If you are a successful business person and want to establish a business in Tasmania, manage a new or existing business, or invest in Tasmania, you can apply for a Business Innovation and Investor program visa, subclass 188. This is a two-stage visa program which provides a pathway to permanent residency on a subclass 888 visa.

Business Talent subclass 132 visa

Business Talent subclass 132 visa provides immediate permanent residency for high-calibre business owners. It is designed for successful business people who aim to have a major management role in establishing or developing a business in Tasmania, or for people who have obtained at least AUD$1 million in funding from an Australian venture capital firm to be used in a Tasmanian project. Applicants must be less than 55 years of age (unless approved by the Tasmanian Government if your proposed business will be of exceptional benefit to Tasmania).

Eligibility

This visa is for people who want to own and manage a new or existing business in Tasmania, or who want to invest in the state or in complying investments. Applicants who fulfil the Department of Home Affairs requirements are invited to apply for state nomination. See details on eligibility requirements here.

This visa requires nomination from a state government or Austrade, depending on which of the following five streams you intend to apply for.

  1. Business Innovation stream: for business owners having AUD$800 000 transferable assets who want to establish, develop and manage a new or existing business in Tasmania. Nominations by Tasmanian Government.
  2. Investor stream: for investors and business owners having AUD$2.25 million transferable assets and prepared to invest AUD$1.5 million in Tasmanian Treasury bonds and maintain the investment for four years. They need to maintain business and investment activity in Tasmania after the original investment has matured. Nominations by Tasmanian Government.
  3. Significant Investor stream: for people who are willing to invest at least AUD$5 million into complying investments in Tasmania for a minimum of four years. Nominations by Tasmanian Government or Austrade.
  4. Premium Investor stream: for people who are willing to invest at least AUD$15 million into complying investments for a minimum of one year. Nominations are by Austrade invite only.
  5. Entrepreneur stream: for people who have an agreement in place from authorised funding parties to commercialise an innovative product or service in an Australian business. Nominations by Tasmanian Government.

Nomination Criteria

If you intend to apply for the Business Innovation, Investor, Significant Investor or Entrepreneur streams, you are welcome to meet with the Business and Skilled Migration Unit staff to discuss your business intentions or if you have questions on state nomination and/or settlement in Tasmania prior to submitting your application.

Austrade nomination is required if you intend to apply for the Premium Investor Stream.

To book an appointment, please use this online form. There is no fee involved in the consultation.

We are also happy to answer questions by email, business@migration.tas.gov.au.

Progress Report: The Business and Skilled Migration Unit tracks investment progress and relevant outcomes of the program. Nominees are required to update the unit on progress of business activity and to respond to all questionnaires.


Business Innovation Stream

  • Must be able to meet the Department of Home Affairs visa requirements.
  • Must genuinely intend to live in Tasmania permanently and continue to contribute to Tasmania.
  • Must be a successful business person and wants to invest a minimum AUD 200 000 to establish a new or purchase an existing business in Tasmania.
  • Must have a demonstrated record of successful business or investment activity.
  • Must have undertaken comprehensive business research and planning to demonstrate realistic understanding of the investment in the Tasmanian context.
  • Proposed activity must demonstrate a genuine benefit to Tasmania
    This may include:

Requirements for property development:

  • A minimum AUD 1.5 million investment leading to creation of at least 4 properties for general sale or tourism, low income or student accommodation.
  • Property development must add to stock of housing available for general sale or for increasing tourism, low income, or student accommodation.
  • Sale of developed property must be at arm’s-length (not to a known or related individual/business)

For details of supporting evidence, information and documents required with your application, refer to the “Document Checklist” section.

Investor Stream

  • Must be able to meet the Department of Home Affairs visa requirements
  • Must genuinely intend to live in Tasmania permanently and continue to contribute to Tasmania
  • Have AUD$2.25 million transferable assets and agree to invest AUD$1.5 million in Tasmanian Treasury bonds and maintain the investment for four years.
  • Maintain active business and investment activity in Tasmania during the visa period and after investment has matured
  • Must have had an overall successful business / investment career
  • Must have sufficient funds to settle in Tasmania

Applicants should confirm eligibility to purchase Tasmanian Treasury bonds with Tascorp (http://www.tascorp.com.au/migration-bonds)

For details of supporting evidence, information and documents required with your application, refer to the “Document Checklist” section.

Significant Investor Stream

Complying investment framework (see Department of Home Affairs website):

  • a minimum of A$500,000 in Venture Capital and Growth Private Equity funds
  • a minimum of A$1.5 million in emerging companies
  • a balancing investment to make up a total of at least A$5 million in complying investments, depending on the amount invested in Venture Capital and Growth Private Equity funds and emerging companies

Nomination requirements

  • Must be able to meet the Department of Home Affairs visa requirements
  • Must genuinely intend to live in Tasmania permanently and continue to contribute to Tasmania
  • Have an agreement to invest at least AUD 500 000 into a Complying Significant Investment that is of economic benefit to the Tasmania. For example:
    • minimum $500,000 investment in a venture capital and growth private equity fund actively investing in start-ups and small private companies in Tasmania;
      or
    • minimum $500,000 investment in a ‘balancing’ investment component that includes significant Tasmania based investments.

For details of supporting evidence, information and documents required with your application, refer to the “Document Checklist” section.


Entrepreneur Stream

  • Must be able to meet the Department of Home Affairs visa requirements
  • Must genuinely intend to live in Tasmania permanently and continue to contribute to Tasmania
  • Propose to undertake, an entrepreneurial venture in Tasmania that relates to an innovative idea that will lead to the commercialisation of a product or service or the development of an enterprise or business in Tasmania.
  • The venture must not be related to residential real estate or labour hire or involve the purchase of an existing business or franchise.
  • Hold at least 30 per cent share in the ownership of the entrepreneurial venture.
  • Enter into a funding agreement/s with a third party funding body (or bodies) for at least $200 000.
  • Must have sufficient funds to settle in Tasmania
  • Applicants must show how their proposed entrepreneurial activity will benefit Tasmania. This may include:

For details of supporting evidence, information and documents required with your application, refer to the “Document Checklist” section.


888 Permanent Stage

Permanent Stage (subclass 888) nomination will depend upon maintaining investment/entrepreneurial activity and delivery upon the commitments and the anticipated benefits upon which 188 nomination was agreed. It is important for nominees to keep the Business and Skilled Migration Unit updated on progress, and to contact us if any changes to the proposed investment plan are made to ensure they are in line with re-nomination requirements.

Extension Streams

Extension nominations for will depend upon maintaining investment / entrepreneurial activity and progress towards delivering the commitments and anticipated benefits upon which 188 nomination was agreed. It is important for nominees to keep the Business and Skilled Migration Unit updated on progress, and to contact us if any changes to the proposed investment plan are made to ensure they are in line with re-nomination requirements.

Age waivers and Special Endorsements

Please contact the Business and Skilled Migration Unit before applying if seeking “age waiver” for exceptional economic benefit or 10 point special endorsement for unique and important benefit.

Apply

Business Innovation, Investor stream, Significant Investor or Entrepreneur stream

  1. Ensure you meet all the requirements set out by the Department of Home Affairs. Refer to the details here.
  2. Ensure you meet the Tasmanian Government nomination requirements (see Nomination Requirements tab).
  3. Apply online
  4. Ensure you attach the required supporting information (see “Information and Evidence Required”)
  5. If you are successful, lodge an EOI through SkillSelect then provide Business and Skilled Migration with the EOI reference number so they can confirm your nomination.
  6. You have 60 days to lodge your application with Home Affairs. State nomination does not guarantee a visa will be granted.

With your application, please provide evidence to show how you meet the Department of Home Affairs visa requirements. You must also provide details of the basis upon which you are claiming points in the Department of Home Affairs Subclass 188 points test.

It is recommended that applicants obtain independent and professional legal and financial advice before investing or undertaking business activity. Applicants are encouraged to engage a registered migration lawyer/agent to assist in the application process.

Common questions

Do I need to use a migration agent when applying for state nomination?

It is an individual choice whether to use a migration agent. If you are confident with the process, clear on how to fill in the necessary forms and have the correct documentation for your application, you may choose to do it yourself. It also depends on what program you are applying under and how complicated the process is.

Often businesses migrants choose to use agents because they are more confident employing a professional who understands migration law and has experience in completing the paperwork.

To find a registered migration agent, go to www.mia.org.au or www.mara.gov.au

How much does it cost to apply for state nomination for a business skills visa?

The Tasmanian Government does not charge people to apply to be nominated for business migration.

Document checklist

Please provide the following supporting information with your application:

Business Innovation Stream

  • Business plan with details of proposed area of business including:
    • proposed business and / or investment activities
    • location
    • details of any finance
    • amount of anticipated investment
    • research and study into proposed business area , including target market, opportunities, barriers, licensing and registration, contacts with potential suppliers / collaborators and other relevant individuals and organisations, exploratory visits to Tasmania
    • anticipated benefits to Tasmanian economy and way of life.
  • Resume or Curriculum Vitae.
  • Evidence of exploratory visit(s) to Tasmania.
  • Description of any Australian business activities that you have an interest in, including your period of ownership (if any).
  • Summary of successful business history.
  • Business registration certificate or licence and evidence of share of ownership.
  • Financial statements for current business.
  • Documentary evidence of business involvement - such as organisation charts; photographs of business, internet presence.
  • A current Department of Home Affairs form 1139A - Statement of Assets and Liabilities Position (or similar document).
  • Evidence supporting your claims to points on the Department of Home Affairs 188 points test.
  • A copy of a passport bio page for main applicant and dependants.
  • If you are using a migration agent: completed and signed Department of Home Affairs Form 956 (Advice by a migration agent/exempt person of providing immigration assistance).

    Additional information for property development proposal
    • Identification and location of the development.
    • Indication of project cost information.
    • Details of financing (own/debt/other financing).
    • Current Certificate(s) of Title for the subject land.
    • Copies of any planning or development approvals.
    • Expected commencement and completion dates.
    • Explanation of the client's role in the project.


Investor Stream

  • Evidence to support the points you are claiming in the Department of Home Affairs Subclass 188 points test.
  • A CV showing business / investment / management career.
  • A signed statement agreeing to make that you will invest AUD$1.5 million in Tasmanian Treasury bonds and maintain the investment for four years
  • Evidence of availability of funds.
  • Statement of intended active business activity in Tasmania during the investment / business period.
  • A current Department of Home Affairs form 1139A - Statement of Assets and Liabilities Position (or similar document).
  • A copy of a passport bio page for main applicant and dependents.
  • If you are using a migration agent: completed and signed Department of Home Affairs Form 956 (Advice by a migration agent/exempt person of providing immigration assistance).


Significant Investor Stream

  • Evidence that the proposed complying significant investment is of economic benefit to Tasmania. This may include:
  • an overview of your complying investment intentions in Australia, which should include:
    • an outline of the proposed complying investment; and
    • a signed letter of intent with the managing fund to invest in the complying investments; and
    • a summary of how the intended investments and/or business activities are of economic benefit to Tasmania.
  • A current Department of Home Affairs form 1139A - Statement of Assets and Liabilities Position (or similar document)
  • Your resume or Curriculum Vitae.
  • A copy of a passport bio page for main applicant and dependents.
  • If you are using a migration agent: completed and signed Department of Home Affairs Form 956 (Advice by a migration agent/exempt person of providing immigration assistance).

Entrepreneur Stream

  • A business plan that outlines how your plans for the entrepreneurial activity will lead to the commercialisation of a product or service, or the development of an enterprise of business in the Tasmania.
  • The funding agreement/s in place with a third party funding body (or bodies) for a total of at least $200,000.
  • A description of how the activity will benefit Tasmania
  • Evidence of ownership of the entrepreneurial business, activity, product or idea (such as patents, relevant registrations, description of development history)
  • Evidence of exploratory visit(s) to Tasmania
  • Your resume or Curriculum Vitae
  • A copy of a passport bio page for main applicant and dependents.
  • If you are using a migration agent: completed and signed Department of Home Affairs Form 956 (Advice by a migration agent/exempt person of providing immigration assistance).