Advantages and Limitations of Each Extension Pathway
When considering visa extension for entrepreneurs in Australia, it’s important to weigh the advantages and limitations of each option. Each pathway caters to specific needs and circumstances, offering unique benefits and challenges. Here’s a closer look at the advantages and limitations of each extension pathway:
Business Innovation Stream:
- Permanent Residency: The Business Innovation stream leads to permanent residency in Australia, providing long-term stability and access to various benefits.
- Business Continuity: Business owners can continue their business operations in the country, fostering growth and expansion.
- Provisional Visa Requirement: To be eligible for this pathway, individuals must hold a qualifying provisional visa, such as the subclass 188 in the Business Innovation stream.
- Ongoing Business Involvement: Applicants are required to demonstrate their ongoing involvement in their business activities.
- Permanent Residency: Similar to the Business Innovation stream, the Investor stream offers permanent residency for individuals with investment activities in Australia.
- Investment Opportunities: Business owners can pursue various investment opportunities in the country.
- Investment Obligation: Applicants must have held a designated investment of AUD 1.5 million for a minimum of 4 years to qualify for this pathway.
- Specific Visa Requirement: Eligibility hinges on holding a subclass 188 visa in the investor stream.
Significant Investor Stream:
- Permanent Residency: The Significant Investor stream provides a pathway to permanent residency for significant investors.
- Investment Flexibility: There is flexibility in the types of investments allowed, offering a range of options.
- High Investment Requirement: Applicants need to have held a complying investment of AUD 5 million for a minimum of 4 years.
- Specific Visa Requirement: Holding a subclass 188 visa in the Significant Investor stream is essential.
Premium Investor Stream:
Similar to other streams, the Premium Investor stream leads to permanent residency status.
High Investment Capacity:
This pathway is suited for those with a substantial investment capacity.
- High Investment Threshold: Applicants must have held a complying investment of AUD15 million throughout the duration of their subclass 188 visa.
- Specific Visa and Investment Requirement: Holding a subclass 188 visa in the Premium Investor stream for 12 months and maintaining the required investment are prerequisites.
- Permanent Residency: The Entrepreneur stream offers a path to permanent residency for entrepreneurs.
- Recognition of Entrepreneurial Activity: Successful entrepreneurial activity during the subclass 188 visa period is acknowledged.
- Entrepreneurial Record Requirement: Applicants must demonstrate a successful record of entrepreneurial activity during their stay in Australia.
- Minimum Stay and Visa Criteria: Holding a subclass 188 visa in the Entrepreneur stream for 4 years and residing in Australia for at least 2 years during that period are necessary.