Business Talent Programme
To be nominated, the investor/entrepreneur must file an application for State Nomination with the Business Migration Centre (BMC). Once approved it is required to submit an Expression of Interest (EOI) through the SkillSelect Online process of the Australian Department of Immigration and Border Protection.
Once nominated in SkillSelect, the applicant will receive an invitation from Department of Immigration and Border Protection to apply for a Permanent visa subclass 132. After 4 years of permanent residency, he or she may be eligible to apply for citizenship.
Venture Capital streamTo apply for the permanent visa subclass 132 under the Venture Capital Stream, you must have received at least AUD1 million in funding from an Australian venture capital firm.
The funding must be for the start-up, product commercialization or business development of a promising high-value business idea.
The venture capital firm must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). AVCAL has information about the venture capital category of membership in its Venture Capital entrepreneur visa factsheet.
You must have entered into a formal agreement with the venture capital firm for the funding.
- Be under 55 years of age (some states or territories may waive this requirement, provided that business will bring exceptional economic benefits to the country).
- A legally binding venture capital agreement with an Australian company that is a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL) to show that you have obtained venture capital funding of at least AUD1 million from an Australian venture capital firm, and a letter stating that the funding is for the start-up, development or expansion of a business, or for product commercialisation in Australia.
- Evidence that your nominating Australian state or territory government agency is satisfied that you, your partner or you and your partner combined have sufficient assets to allow you to settle in Australia.
- Evidence of your genuine and realistic commitment to continuously maintain a substantial ownership interest in new or existing eligible business in Australia and to engage directly and continuously in the daily management and decision-making of the business.
- An overview of your business career and intentions in Australia, including a statement outlining your intended business and/or investment activities and a description of your research or study in relevant sectors in Australia.
No nationality is officially restricted
Dual citizenship is recognized in Australia. You are not required to renounce your previous nationality to become a citizen of Australia.
- Certified copy of passport
- Two passport-size photos
- Certified copy of ID Card
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Medical Certificate
- Original Police Clearance Certificate
- Bank Statement
- Proof of net wealth
- Certified copy of Business License or Incorporation documents
- Evidence of Business Background
- Certified copy of Business License or Incorporation documents (if applicable)
- Financial Statement
- Business Plan
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required Yes
- Language skills required Yes
- Interview required No
- Investment Single -
- Investment Family 4 -
- Minimum annual income -
- Time to citizenship 48
- Time to permanent residency
- Visa-free countries 185
- Financing available No
permanent residency benefits
Australia ranks second in the UN’s Human Development Index, only surpassed by Norway, and is the fourth freest economy according to the Heritage Foundation’s Index of Economic Freedom. It has one of the highest income per capita rankings worldwide - slightly higher than the United States, United Kingdom, Germany and France in terms of purchasing power parity. Australia has a solid and stable economy, with reduced unemployment, controlled inflation, relatively small public debt, and a strong and stable financial system. Its currency is the Australian Dollar (AUD).
Visa Free Travel
You will be considered a tax resident in Australia if your permanent domicile is in the country or you have been in Australia more than half a given year (unless your place of abode is outside Australia and you don’t intent to reside in the country) or you are an Australian employee.
Tax residents are subject to personal income tax on their worldwide income, whereas non-residents are taxed on their income derived from Australia.
If you hold a provisional visa, you will be considered a temporary resident, and therefore your foreign-source income may not be subject to taxation.
The personal income tax rate is progressive up to 45% for annual income in excess of AUD54,232 (AUD62,685 for non-residents).
An additional tax of 2% applies to income in excess of AUD180,000, both for residents and non-residents.
Capital gains are treated as ordinary income, though if the asset is held by a tax resident (excluding temporary residents) for more than one year, a 50% discount may apply. Nonresidents are also subject to a non-final withholding tax of 10%.
Dividends received from resident companies are taxable income, but a tax offset is usually available to prevent double taxation. For dividends received from foreign sources, a foreign tax credit may be also available. Interests and rental income are subject to taxation at standard rates.
Australia has enacted controlled foreign company (CFC) regulations. Foreign companies controlled by residents that fail the “active income test” (usually when passive income is more than 5%), might have their passive income subject to taxation, whether the income is passed at the personal level or not. Ranges to determine whether a company passes the ‘active income test’ or not, will depend on its jurisdiction of residence.
States and territories levy land taxes. Transfers of assets are subject to a stamp duty at rates up to 5.75%. There is no net worth tax, nor inheritance taxes in Australia.
There is a Goods and Services tax, which applies to transactions of goods and services. The standard rate is 10%.
Regarding corporate taxation, resident entities are subject to a 30% tax on their worldwide income. A reduced tax rate of 28.5% may apply for those companies whose turnover is less than AUD2 million. There are several available tax breaks and exemptions for companies engaging in R&D activities.
Dividends from resident entities are usually entitled to a tax offset. Dividends from a foreign source may be exempted if the parent company holds at least 10% of the shareholding of the payer entity, otherwise they may be taxable.
Capital Gains are treated as ordinary income. An exemption may apply to those from the disposal of shares, if the parent company holds at least 10% of the capital of the subsidiary.
Dividends paid to non-residents may be exempt from withholding taxes, provided that profits were already taxed, otherwise they may be subject to a 30% withholding tax. Payments on interests abroad are usually subject to 10% withholding tax, however certain interests may be exempt. Royalties are usually taxed at 30%. These rates may be reduced or eliminated under a tax treaty.
For further information on corporate taxation, legal framework and tax treaties, check out incorporations.io/australia.
This should not be construed as tax advice. We have access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
- Property tax Yes
- Transfer tax Yes
- Inheritance tax No
- Net worth tax No
- CFC law Yes
- Tax residency days 183
- Personal income tax rate 47%
- Capital Gains tax rate 27.5%
- Investment income tax rate 27.5%
- Territorial taxation No