How to Choose the Right Australian Visa for Your Business or Investment
Are you thinking of expanding your business or investing in Australia? Although there are various types of visas, it can be quite daunting to choose the right one for you. In this blog, we will walk you through the entire process of selecting the right Australian visa that uniquely suits your business or investment.
Understanding Australian Business and Investment Visas
Australia offers several visa options for business owners and investors:
Business Innovation and Investment (Provisional) visa (subclass 188):
This is for business owners and investors wishing to establish or invest in a business in Australia.
Business Innovation and Investment (Permanent) visa (subclass 888):
This is for business owners and investors already having established or invested in a business in Australia and wanting to apply for permanent residency.
Entrepreneur visa (subclass 188):
For those entrepreneurs wanting to set up a startup business in Australia.
Investor visa (subclass 188):
For those investors who want to invest in an Australian business or government bonds.
Significant Investor visa (subclass 188):
For high-net-worth investors wishing to invest in Australian business or government bonds.
Eligibility Criteria
For an Australian business or investment visa, you need to meet a specific criterion:
Business experience:
You will be evaluated using the relevant business experience, likely owning or managing a business.
Financial resources:
You will be required to show that you possess sufficient financial resources for establishing or investing in an Australian business.
English language proficiency:
In general, this will be evaluated by showing test results of an internationally recognized English language assessment, like IELTS or TOEFL.
Health and character requirements:
You will be required to meet certain health and character requirements, such as a medical examination and police certificates.
Finding the Right Visa
When trying to find the right Australian visa for your business or investment, consider various factors, for example:
Your business aims:
What are your business plans, and which visa typology will help you meet these business objectives?
Your business financial:
What are your financial arrangements, and which visa option demands a specific level of investment in line with what you are looking to invest?
Your’s English language level:
Do you have the English language level defined for the visa type you want to acquire?
Your health and character:
Do you have the health and character abilities explicit to the desired visa?
Application Process
Once you have settled on the visa option you think is the best for you, you are supposed to file for an application which usually comprises:
Submitting an EOI:
You have to submit an EOI stating your business or investment proposal.
Invitation to apply:
The answer of your EOI, if accepted, will give way to receiving an invitation to apply for a visa.
Visa application:
You have to file a visa application that requires supporting documents and medical examinations.
In most circumstances:
you will be required to provide an interview with a Department of Home Affairs representative.
Conclusion
Choosing the right Australian visa for your business or investment takes careful considerations of your goals, financial situations, and eligibility criteria. By understanding each visa option and its application procedure, you can make the best choice and take the first step toward starting or investing in a business in Australia.
