Subclass 188 - Business Innovation and Investor
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.
Business Innovation and Investor Program subclass 188 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).
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 Immigration and Border Protection (DIBP) 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.
- 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.
- 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.
- 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.
- 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.
- 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.
If you are applying for Investor stream, Significant Investor stream, and Entrepreneur stream, and that you meet all DIBP requirements, no additional requirement is needed for Tasmanian Government nomination. Austrade nomination is required if you intend to apply for Premium Investor stream.
If you are applying for the Business Innovation stream, you are invited to meet with the Business and Skilled Migration Unit staff to discuss your business intentions prior to submitting your application. If you are applying for other streams, you are encouraged to see us if you have questions on state nomination and/or settlement in Tasmania.
To book an appointment, please use this online form. There is no fee involved in the consultation.
If you have any queries, please email email@example.com.
Progress Report: The Tasmanian Government tracks investment progress and relevant outcomes of the program. You are required to respond to all questionnaires.
Business Innovation, Investor stream, Significant Investor or Entrepreneur stream.
1) Ensure you meet all the requirements set out by the Department of Immigration and Border Protection (DIBP). Refer to the details here.
2) If you are applying for the Business Innovation stream, you are invited to meet with the Business and Skilled Migration Unit staff to discuss your business intentions prior to submitting your application.
3) Apply online
- Business innovation stream application form
- Investor stream application form
- Significant investor stream application form
- Entrepreneur stream application form
4) If you are successful, lodge an EOI through the DIBP’s SkillSelect then provide Business and Skilled Migration with the EOI reference number so they can confirm your nomination.
5) You have 60 days to lodge your application with DIBP. State nomination does not guarantee a visa will be granted.
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.
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.
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.