A new visa being introduced in Australia later this year aims to encourage budding entrepreneurs and those with high-calibre talent into the country. When unveiling the initiative Prime Minister Malcolm Turnbull said he wanted to “unleash the ideas boom.”
Exceptional visa for exceptional people
The new ‘Entrepreneur Visa’ was announced by the newly launched Innovation and Science Agenda and the idea is to lure exceptional people with talent to Australia to start a business. This country was recently ranked low among worldwide innovation standards and this new visa could encourage aspiring migrants to make Australia their home.
Similar visas have been offered in the United States of America and England and have proved extremely successful.
Here at Visa Solutions Australia we can provide you with information about this new visa being introduced in November. In order to be considered for an ‘Entrepreneur Visa’ you must have financial backing from a third party and be able to prove that your business is financially viable. This visa is essentially a pathway to permanent residency as long as your idea encourages growth and creates jobs.
It will be incorporated under a new stream within the existing Business Innovation and Investment (Provisional) Visa (subclass 188) and the Business Innovation and Investment (Permanent Visa (subclass 888).
The Minister for Immigration and Border Protection Peter Dutton said welcoming high-calibre talent was essential for Australia’s future.
“The idea is to encourage new start-ups and to capitalise on the expertise and ideas of foreign innovators within a global marketplace. Innovation is an important building block for our nation’s growth. The visa system is a key enabler of Australia’s ability to attract and capitalise on foreign innovators.”
Postgraduate students to be given extra points
As part of Australia’s commitment to encouraging talent, the government is also introducing an initiative to help overseas visitors studying in this country who’d like to make Australia their permanent base.
Overseas students completing a Doctorate, a Masters or doing research qualifications in science technology, engineering, mathematics and information technology will be eligible for additional points in the skilled migration points test. As these students do not have much work experience, sometimes they have fallen short of the necessary points for a permanent work visa. The government wants to acknowledge how invaluable they have become to Australia and encourage them to stay here.
The Entrepreneur Visa will be introduced in November 2016 and the enhanced permanent visa pathway for postgraduates in December 2016.
If you’d like to find out more about whether you’d be suitable for this “Entrepreneur Visa” or the visa pathway for postgraduates speak to us here at Visa Solutions Australia. We can advise and assist on your plans to migrate to Australia.