13/03/18 - New Entrepreneurs Visa Announced
The Australian Government has said they are working in the introduction of a new visa, which they hope it will boost the economy.
“The Turnbull Government is focused on increasing job opportunities and standards of living for Australians and we are doing this by fostering business growth and investment in Australia”, Home Affairs Minister Peter Dutton said.
The new visa will allow foreign entrepreneurs and investors with an innovative idea and a supporting business plan apply for a temporary visa to establish their venture in Australia.
Unlike the current entrepreneur visa, the proposed visa will not require any mandatory funding outlay and an applicant will need to demonstrate “vocational English”.
The applicant’s business proposals will be examined by the State or Federal Government authorities before the temporary visa is granted.
Entrepreneurs who are successfully in establishing their business venture in Australia will become eligible to apply for the permanence residence.
“Encouraging seed-stage entrepreneurs to take forward innovative ideas in Australia will assist in growing the jobs of the future”, said Mr Dutton.
At the moment, the Federal Government has given an undertaking to South Australian Liberals to pilot this visa from South Australia.
“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 the South Australian Liberal leader Steven Marshall.
It is still unclear if the introduction of the visa is subject to the Liberals winning the state election, which will take place this Saturday, 17 March 2018.
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