Australian Introduce New Visa to Attract Entrepreneurs

Posted on: 24 Oct 2016  |   Tags: Australia , entrepreneur , funding , immigration , visa ,

Australian has been under huge pressure to modernise the immigration processes and in their effort to become an innovative nation they are striving to attract the best possible talent from across the world.  Meanwhile there is mounting pressure to reduce immigration and as such there are government initiatives to change the immigration processes to attract the best talent whilst reducing immigration. Therefore, the government have introduced a raft of new visa categories to make selection quicker and easier for all.  The Entrepreneur Visa is designed for entrepreneurs who have financial backing and innovative ideas. There are also changes to the SSVF simplified student visa framework and the new ten year tourist visa for Chinese citizens which is hoped to be rolled out to other countries in the near future. The Entrepreneur Visa is a provisional visa for those that already have financial backing for their entrepreneurial ideas as is a new stream within the Business Innovation and Investment visa (both provisional and permanent). Launched on the 10th September 2016 the visa allows those with $200,000 in backing for their venture to enter the country to pursue their business idea.  Applicants must be under 55 years of age, have competent English language and have a genuine intention to carry on this activity in Australia. The ‘Complying Entrepreneur Activity’ must relate to an innovative idea which results in commercialisation in Australia.   It is hoped that this visa category will allow those with existing innovative business ideas that have already attracted funding to thrive and positively contribute to the Australian economy and development of a thriving tech and innovation hub.  The government is keen to attract the best business talent to make Australia on of the innovation capitals of the world and compete with the UK and USA in the development of innovation and entrepreneurial activities

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