The businesses related to some particular industries will be prioritized and the other will not be eligible under the program
The Australian immigration government has introduced a new business visa for South Australia that will allow people with innovative business ideas to come and settle their business without providing the evidence of open capital which was a specific requirement for other business visas.
The applicants applying for this new visa will be able to live in South Australia for three years along with their families and are required to set up their proposed business according to the approved plans under a pilot project which was started in November.
The migrants applying for Supporting Innovation in South Australia (Temporary Activity) Visa must be under 45 years of age, and has minimum vocational level English (score equivalent to 5 bands) along with basic health, character and other financial requirements.
Though, the basic requirement to apply under this stream is to have an innovative business plan in accordance with South Australian Government.
The State Government is prioritizing business that are related to Defence and Space, Cyber Security, Big Data, Digital and Blockchain, Food, Wine and Agricultural Technology, Health and Medical Technology, Robotics, Media and Film Industries. These streams will be in top-priority, however, the applicants applying for other business plans related to other industries are also free to apply.
The potential migrants must have an in-depth knowledge and expertise in the business they are planning to set up in Australia. The ideas must represent a clear, competitive advantage and genuine innovation with strong potential of creating employment and contributing towards the economy in South Australia.
The projected time for the visa program is for three years and during this period, the new businesses set up under the program will have at least half of the assets and staff based in South Australia.
The Immigration South Australia has released the list of some businesses that are not eligible for this visa. The list mentions cafes and restaurants, consulting firms, employment agencies, export/import businesses, franchises, foot reflexology, massage/parlours, acupuncture, traditional Chinese Medicine, herbal dispensing businesses, Feng Shui and retail.
The successful applicants who are able to establish their business in South Australia are eligible to apply for Australia Permanent Residency under any of PR programs.
The South Australia Government will supervise the business activity of the visa holders and if the business venture is not “sufficiently” associated with the business plan, the visa may be considered for cancellation.
The immigration visa program was started in November 2019 and it will continue until the end of November 21. After evaluating if the pilot program is successful then it will be rolled out for other parts of Australia as well.
Australia offers permanent residency solutions for the migrants willing to come and settle in the country on permanent basis. There are different PR programs that you may consider for applying permanent residency. Fill the free assessment form and one of our Aptech Global experts will contact you to discuss Australia PR case.