There is a good news for the people who want to establish business in Australia. The Australian Government is planning to introduce new business visa which will not require any mandatory funding and an applicant only needs to demonstrate ‘vocational English’.
Due to large number of people with a state nomination from South Australia moving to other parts of the country, like Sydney and Melbourne for better opportunities, the federal government will start a new visa to foster entrepreneurship and improve the state’s economy before its national roll out next year.
The first state to pilot this visa will be South Australia.
Home Affairs Minister Peter Dutton said, “The Turnbull Government is focused on increasing job opportunities and standards of living for Australians and we are doing this by fostering business growth and investment in Australia.”
Most probably, foreign entrepreneurs and investors having an innovative idea along with a supporting business plan will be able to apply for a temporary visa to establish themselves in Australia.
There will be no capital backing under the proposed visa as compared to the existing entrepreneur visa which requires a capital backing of $200,000.
The applicant business proposals will be examined by the State or Federal Government authorities before granting a temporary visa. Those applicants who are successful in establishing their business venture in Australia will become eligible to apply for South Australia State Sponsorship.
Mr. Dutton also added that encouraging the new entrepreneurs to take forward innovative ideas in Australia will lead to growing jobs in the future.
To apply for South Australia Immigration, all applicants must be under 45 years of age and must have a vocational English level (score of 5 bands in each four components of IELTS).
South Australian Liberal leader Steven Marshall said, “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.”
He further added, “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 ship building program in South Australia.”
Well, the exact time for the introduction of this visa is not clear.