It has just been introduced and aims to attract entrepreneurial talents and people able to bring innovation and ideas into the Australian economic world. In fact Australia has an extra visa, the new Entrepreneur visa, which makes it possible to obtain permanent residence in the country, but has stringent criteria.
Entrepreneur Visa: The Criteria
In order to apply for this visa it is necessary to adhere to the following characteristics:
- be less than 55;
- have received a loan of at least 200 thousand Australian dollars to give birth to a new business in Australia (you do not need to have already received them, but have an agreement with the financiers);
- have a minimum of 30% of the new business;
- having been appointed by an Australian state or territory;
- have a business plan related to the new company that you intend to establish;
- Know English.
If you need more information so you can directly contact with your local Australian immigration consultants, they will guide you properly in best manners.
The referenced funding can come from a variety of sources, such as government agencies, research institutes that receive public funds, registered Venture Capital companies and the like.
It is also possible to request the Entrepreneur visa even if you are co-founder of a new company, but only if you meet the criterion of having the minimum 30% of the start-up.
Unlike other similar visas, Australian Entrepreneur visa does not require a personal asset behind it and specific training or experience in business development.
Entrepreneur Visa: Permanent Australian Residence
This visa, which is part of the visa , will establish new businesses in Australia that have the characteristics of innovation , which excludes forms of purchase or franchising of existing companies, activities of real estate brokerage and labor management. Rather, it includes the marketing of a product or service and the development of a business in Australia. The duration of the residence permit in the country is four years, but with the possibility to apply for the definitive one if the company will be successful exploiting the visas of the subclass 888. This category of visa concerns the Business Innovation and Investment, which all involve an invitation from a state or a territory and transform the temporary visa of the subclass 188 into permanent. Success for the purpose of the Department of Immigration and Border Protection means having hired Australian workers, obtaining additional funds and the like.
In Addition To Entrepreneur Visa: Change In The Points System
Another new feature introduced since 10 September is the visa system based on skills. The objective is to facilitate the obtaining of a permanent visa for students who have attended a doctorate or master’s degree at an Australian university in areas such as science, engineering, technology and mathematics or in the ITC sector. In fact, they will receive five extra points for completing the aforementioned study course.