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Australian Labor urges to Grant Permanent Residency for Foreign Entrepreneurs

August 2014, 23
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Australian Permanent Residency for Foreign Entrepreneurs
The senior federal labor of Australia, frontbencher, states that the temporary migrants who have established a small business will be now permitted to become permanent residents. 

Earlier, the former immigration minister of Gillard Government, Chris Bowen, has laid down a path for investor visa that allows skilled migrants who have invested five million dollars in the country to process their visa applications quickly. 

Now, playing the role as a shadow treasurer, Chris Bowen has come up with a new idea that permits overseas entrepreneurs to become permanent residents of Australia given the satisfying condition of establishing a small business within a period of three years.

In a meeting with a leading forum, Chris Bowen said that permanent visa will be issued for those temporary visa holders having the ability to turn 50,000 dollars into a company that employs 15 people. He added on saying that they can perform better in luring foreign entrepreneurs to the country. 

The United Kingdom, Singapore, New Zealand, and Ireland are amongst a few countries that have introduced specific entrepreneur visas.

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