This is an informative article geared towards providing some insights into what Australia holds for entrepreneurs and businesses.
To increase the entrepreneurial pool of Australia, Business Innovation and Investment program of the country invites successful businessmen to setup their activities in Australia. Basically, it is geared to invite innovating people to the country so that their business acumen could be used to diversity the entrepreneurial environment of the country.
In the broader sense of the term, the objectives of Australia migration of businesses include:
- To generate employment in the country
- To generate more export of goods and services in the country
- To increase the production
- To introduce innovative and improved technology in the business environment
- To develop contacts and links with the international market
The Business Innovation and Investment program has 3 subclasses under which visas are granted to the businessmen:
- Business Talent (Permanent)
- Business Innovation and Investment (Provisional)
- Business Innovation and Investment (Permanent)
As clear from the name itself, there are two types of permanent visa options provided to entrepreneurs. Usually, provisional visa is awarded for business innovation and investment subclass. After 4 years of successful completion and satisfactory performance of business skills, this is converted to the permanent type.
- Business Talent (Permanent)
This type of visa is also awarded under 2 streams: The significant business history stream and the venture capital entrepreneur stream. In the former, the visa is given to business owners of high caliber with realistic commitment in managing or starting a new business in Australia. The latter is awarded to entrepreneurs who have a high potential business idea that you have been given funding by venture capitals in Australia. The funding should be the size of minimum 1 mn AUD. This type of visa requires nomination from an Australian state or territory government. - Business Innovation and Investment (Provisional)
This type of visa is awarded in 2 streams: the business innovation stream and the investor stream. The first one is given to people with successful business acumen and proven expertise. The second one is awarded to people who have a proven track record of investing in business and who are willing to invest in businesses established in a state or territory of Australia. - Business Innovation and Investment (Permanent)
This type of visa requires that you are a primary holder of a provisional Business Innovation and Investment visa. It is also awarded in 2 streams: The business innovation stream and the investor stream.
