Business Visa 188
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Start a Business in Australia
Embarking on a new business venture is both exciting and terrifying in equal measure. On one hand, you’ll finally be the boss; the master of your own destiny who’s pursuing success in something that you’re truly passionate about. Many expats move to Australia with the idea of working for themselves when they get there. If you intend to start your own business and can prove that funds and acumen to do so, then you will be considered an investor or a business owner in the country and will find it much easier to get a visa. There is a difference between starting a business and buying an existing business. If your venture is established, then after a period of 2 years you can be granted permanent residency in the country.
Australia Business Innovation provisional visa Subclass 188 helps you do exactly the same. If you have a great business idea and have been hitting AUD500,000 mark as your annual turnover, then this is the PR pathway for you. You and your spouse inclusive, should also have a minimum net worth of AUD800,000 and get a state sponsorship from the Australian state where you wish to start your business. This visa is granted for 4 years and 3 months.
Once you invest the minimum amount in your Australian business, most cases AUD200,000 and keep the investment and business running for 2 years. You may become eligible for Business innovation permanent visa Subclass 888 and get Permanent Residency of Australia through business.
You are from outside Australia. You have heard there are opportunities there. You are new to all of this, and you do not hold the Subclass 162 visa. There are a number of ways you can go about this.
Again there is another visa, the Business visa (subclass 890) that is similar to the investor visa (subclass 891). However, you will hit the same brick wall, as the subclass visas 160-165, are not being issued at the moment. You will need one of these if you want to move onto the Business visa (subclass 890).
For executives and business leaders it may be easier. However, another way around this is just come to Australia and set up your business. With the help of a good online agency you should be able to navigate your way around this current maze, and wait for further changes in legislation.
The way to do this would be to look at the Business and Investment (provisional visa) (subclass 188)
This will allow you to manage and own a business in Australia. To invest and work as an entrepreneur..
You will be sent to a designated state or province. These are regions in Australia where your business skills and expertise will be needed. This is also away from some of the more populated metropolitan areas. You will have to show expertise and skill in operating a business. Alternatively, you have $1.5 million AUD to invest in Australia. This can also include sums of $5 million AUD and $15 million AUD, for investment.
Your family can come along as well. There will be health and character (police checks) requirements you will need to pass. This visa is for 4 years and 3 months .However, as stated, once you are established in Australia, there may be ways of extending your stay.
The process involves submitting an Expression of Interest (EOI).
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Business Innovation (Provisional) Subclass 188 Govt Fee AUD4,985
Additional Applicant Charge (Spouse ABove 18) AUD2,495
Additional Applicant Charge (Kids Under 18) AUD1,245