SBS Radio App

Download the FREE SBS Radio App for a better listening experience

Advertisement
  • New Australian business visa that doesn't require investment (SBS )
The new visa doesn’t require any massive financial outlays and the English language requirement has been set low at 5 bands in each of the four components of IELTS. But applicants need to have an innovative business idea in order to secure a visa.
English
By
20 Nov 2018 - 3:33 PM  UPDATED 26 Nov 2018 - 12:42 PM

A special visa aimed at boosting the economy of South Australia is being made available on Wednesday for a period of three years.

The visa, first announced in March this year during the lead up to the South Australian state election, won’t require any capital outlay as is the case with most business and innovation visas.

The Federal Government endorsed-Subclass 408 (Temporary Activity) visa will allow visa holders to stay in Australia for three years along with their families.

The applicants need to be under 45 years of age and have an endorsement from the South Australian state government for establishing an innovative business in the state upon submitting a written business plan.

“Endorsement by the government of South Australia will ensure only genuine entrepreneurs with innovative ideas have access to the temporary visa,” the explanatory statement of the Legislative Instrument reads.

Steven Marshall, the state Premier, at the time of the announcement [then the leader of opposition] said the new visa would help create more jobs and attract investment in the state.

“We are confident that this arrangement can lead to participants applying for permanent residence in South Australia as they develop their business plans into successful enterprises creating new companies and jobs in our state,” said Mr Marshall.

“These arrangements will also encourage more investment in those sectors of our economy with the greatest capacity to grow, including advanced manufacturing and defence technology following the Federal Government’s decision to centre the naval shipbuilding program in South Australia.”

Also read
Australia to introduce new visa to boost economy, jobs
The Australian Government says it will introduce a new visa for people willing to establish businesses in the country. The visa will not require any mandatory funding outlay and an applicant only needs to demonstrate "vocational English".

The Government of South Australia allocated a sum of $400,000 in the state budget to run the program.

English requirement and investment

This visa will be different from the existing entrepreneurial and Business & Innovation visas as it will not require any mandatory funding outlay. Most of the available business visas require a financial outlay of a minimum $200,000.

The English language requirement for this visa has been kept relatively low at vocational English language proficiency which is band 5 in each of the four components of the International English Language Testing System (IELTS).

Also read
South Australia introduces a new visa
Unlike the current Entrepreneur visa, the new visa does not require $200,000 funding arrangements and the English language requirement is 5 Band score on IELTS.

With the new visa, foreign entrepreneurs and investors with an innovative idea and a supporting business plan will be able to apply for a temporary visa to establish their venture in Australia.

The applicants’ business proposals will be examined by the State or Federal Government and those successfully establishing their business venture in Australia will become eligible to apply for permanent residence.

The state government will monitor the business activity of the visa holders and if it is not “sufficiently” associated with the business plan, the visa may be considered for cancellation.

The South Australia pilot of this visa commences on Wednesday, 21st November 2018 and will continue until the end of November 2021. The Department of Home Affairs has confirmed that there's no cap on the number of visas that can be granted while the scheme is on. 

Listen to SBS Punjabi Monday to Friday at 9 pm. Follow us on Facebook and Twitter.

Also read
No takers for thousands of Australian permanent residency visas
While thousands struggle to meet the requirements for Australian permanent residency, some in-demand trade occupations are seeing very low, or even no applications at all.
Coming soon: Big change in the way passports are used
Australia is rolling out facial recognition technology that will see international travellers pass through airports without producing their passports. But the new technology has sparked privacy concerns.
Most in-demand jobs that can get you permanent residency in Australia
Australia's skilled migration program is designed to fill the skill gaps to meet the country's economic needs. However,shortages in some skills continue to persist.