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New Business Visa Put to Trial in South Australia

March 2018, 14
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The South Australian Liberal Opposition Party has made an announcement that the government has agreed to introduce a pilot for a new 'Entrepreneur Visa' for the state. It has the aim to increase the investment and business growth.

New Business Visa Pilot

The norm for this new visa is that the applicants do not require secure capital backing, which is dissimilar to the Entrepreneur Visa which needs funding of $200,000.All the proposals made by the Applicants would be examined by entities of state/federal government, or by local incubators/accelerators, for identifying the applicants, seeking a nomination.

The applicants need to be below 45 years of age and prove that they possess the ability of English language at the vocational level.

The South Australian Liberals feel that there will be a priority, in visa applications from the investors in SA enterprises, who wish to join the Defense Technology and Advance Manufacturing Sectors.If the proposal succeeds, it will be introduced in all other Australian states in 2019.

At present, it is unclear whether the proposal is conditional, to the Liberals win, in the state election of SA to be held on 17th March.

The opposition leader Steven Marshall has stated that the reason behind proposing this temporary start-up visa, is that it will manage further foreign investments, in the Business Innovation and Investment Visa program. This also compares well with the finding of 2017 review, regarding the Business, Investment, and Talent visa programs. The purpose of this program is, increasing entrepreneurial talent, and diversifying business expertise, for rebuilding the economy of South Australia. 

It offers a golden opportunity and encourages innovators to pursue their business ideas and development plans in South Australia, which are aligned with the plan for creating additional jobs. This arrangement will lead the participants to apply for seeking permanent residence in SA, while they develop a business plan, and turn it into a successful enterprise, thereby creating companies, jobs, and opportunities in the state.

Peter Dutton, Home Affairs Minister, restated that the successful entrepreneurs, who establish their business ventures in Australia, would gain eligibility for applying to have permanent residence in Australia. The government has a focus, to increase job opportunities and boost the standard of living for the countrymen, through development, business growth, and better investments in the country. Encouraging the budding entrepreneurs, for taking forward their innovative ideas, will help in job growth in the future, he added.

This also serves as a great opportunity for foreign entrepreneurs and investors, to develop their ventures in Australia, and go to the strict funding requirements of Entrepreneur Visa. It creates a realistic chance, to attract entrepreneurs for starting their business in Australia, and proceed ahead in creating local jobs.

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