Australian Immigration Daily News

About Business and Investor Visas

Business Innovation and Investor Program subclass 188/888 visa

This visa is designed for individuals to establish a business in Tasmania, manage a new or existing business, or invest in Tasmania, this visa allows applicants to 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 high calibre 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.

Interim allocation of 188 and 132 nomination places

The Department of Home Affairs has issued an interim allocation of subclass 188 and 132 visa nomination places to states and territories. These allocations will be updated after the 2020-21 Federal Budget is handed down in October. The Department of Home Affairs has directed that until this time, every business nomination must be a high quality nomination application that support Australia’s COVID-19 recovery effort.

Benefit to the State

Migration Tasmania is seeking interest from high calibre business investors who can make a significant contribution to Tasmania’s economy.  The following industries are considered to be benefit to the state:

• Investment in a regional area (which generally excludes Hobart CBD and suburbs)
• Generation and/or retention of local jobs for Tasmanians
• Investment in key sector/s that will benefit Tasmania’s economy which may include:
• Aquaculture, Agriculture and Agribusiness
• Minerals and Mining
• Forestry and Timber
• Antarctic and Marine Science
• Information and Communication Technology
• Creative Industry
• Community Infrastructures that enhance a region’s liveability
• Renewal Energy
• Bio Renewal/Waste Recycle
• Food production
• Generation of significant flow-on opportunities for other sectors and/or economic growth
• Partnership with at least one Tasmanian business partner who is a permanent resident or an Australian citizen
• Transfer of new capital investment
• Expansion of trade in Tasmanian goods and/or services
• Development of export markets for Tasmanian products or replacement of imports
• Introduction of new skills, expertise, technologies or innovations that are currently unavailable in Tasmania
• Environmentally sustainable initiatives that build on Tasmania’s established environmental principles

Source: https://www.migration.tas.gov.au/news/2020-2021_program_year_update