For Startup Entrepreneurs, here’s the good news, South Australia is keen to implement a pilot program for a new visa. This visa is for startup entrepreneurs, will help migrate to Australia who desire to establish a business in Australia.
The Announcement about this visa was made this year, in the month of March, before the South Australia election.
Peter Dutton, Home Affairs Minister stated, above move would encourage both business growth as well as investment in Australia.
The Government feels it would also help increase job opportunities as well as help boost the economy to attract a number of startups to set up operations in Australia.
The above visa would be different from all existing entrepreneurial as well as Business & Innovation Visas as it will not require any obligatory funding outlay and candidates are only required to show evidence of vocational English language proficiency.
With the introduction of the new visa, foreign investors and entrepreneurs having innovative ideas and supporting business plan would be able to apply for a temporary visa to set up their venture in Australia.
Business proposals of the applicants would be examined by the State or Federal Government and all individuals who have been successful in setting up their business venture in Australia would be eligible to apply Permanent Residency (PR).
David Ridgway, South Australian Minister for Trade, Tourism and Investment stated the new visa would support growth in the local entrepreneurial culture.
It’s not clear as to whether financial requirements should be met by the applicants; their age should be under 45 and they must have vocational level English, in other words, they should score IELTS 5 in each section-Reading, Listing, Writing and Speaking. They are also required to meet the character, health and financial requirement set by the Federal Government.
After the Government’s announcement, Mr. Marshall, South Australian Premier stated we are confident that the above arrangement could lead to participants applying for PR in South Australia as they transform their business plans into successful enterprises creating new jobs and companies in the state.
The above arrangement will also result in encouraging more investment in sectors wherein the economy has great potential to grow. The sectors include defence technology, manufacturing besides the Federal Government’s decision to centre the naval shipbuilding program in South Australia.
If you are in a need of a visa, to migrate to Australia or other destinations speak to our immigration consultants, they would provide you information and also details about the requirements to be met.