In order to boost up the South Australia’s economy, a new and special visa has been made available for a 3 years’ time frame by the Australia government. Though, the new Australia Business Visa was announced during the startup of the South Australian State election, March; it doesn’t depend on any capital expenses; whereas most of the other business and innovation visas depend on investment.
As approved by the federal government, the Temporary Activity Visa or the subclass 408 visa, will now permit the visa grant people to leave in Australia with their families for a period of 3 years.
Hence, to get part of it, the candidates have to be below 45 years and must hold an agreement received by the state government of South Australia for founding a business by providing the business plan by written.
“Endorsement by the government of South Australia will ensure only genuine entrepreneurs with innovative ideas have access to the temporary visa,” – statement by the Legislative Instrument.
The Premier of the State, Steven Marshall has even stated that the new visa will help in discovering more employment offers and draw attention for state investments.
He also added that, “We are confident that this arrangement can lead to participants applying for permanent residence in South Australia as they develop their business plans into successful enterprises creating new companies and jobs in our state,”.
“These arrangements will also encourage more investment in those sectors of our economy with the greatest capacity to grow, including advanced manufacturing and defence technology following the Federal Government’s decision to centre the naval shipbuilding program in South Australia.”
However, to make the program successful, the South Australia government allocated its state fund with a total of $400,000.
Among the available Entrepreneurial and Innovation & Business Visas, the present visa type is different. The Entrepreneurial and Innovation & Business Visas needed a mandatory investment and financial expense of a minimum $200,000.
Also, the language proficiency has been kept low for the IELTS test, i.e. which is of just band 5. Hence, it is expected that, the visa will provide a good support for the people planning for the Entrepreneurial and Innovation & Business plan to start with a temporary visa in order to establish a great enterprise.
However, the Federal or the state government examine the applicants’ proposals for business and help in setting up a business. The candidates who successfully gain the support to establish a business are eligible for applying the permanent residency, i.e. through the Australia PR Visa.
Also, the government of the state will constantly be auditing the activity of the visa holders. And, if their business is not associated “sufficiently” with regards to the plan, then their plan will be termed for elimination.
The visa’s South Australia pilot for Australia Immigration will start on 21st November 2018. And, it will be sustaining till be the end of the month – November, 2021. Though the program was stated for 30 places for the first year as a start; it will gradually increase its visas number in coming next years.
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