The Australian Government is committed to fostering entrepreneurship and innovation and has given an undertaking to pilot a new visa initiative in South Australia.

Under this initiative, new visa arrangements that allow State Governments to partner with business incubators in attracting foreign entrepreneurs to Australia will be piloted in South Australia, before a national rollout in 2019.

“Under this initiative, the Commonwealth will pilot a temporary start-up visa in South Australia in line with findings of the 2017 review of Business, Investment and Talent visa programs.”

To secure this visa:

• Applicants must be nominated by a South Australian Government or Australian Government entity to take forward an innovative idea with a supporting business plan;
• Nominators can partner with incubators and accelerators to identify potential applicants for nomination and foster a start-up hub in South Australia;
• There would be no funding requirement (unlike the current Entrepreneur visa which requires at least $200,000 in capital backing from applicants); and
• Applicants must be under 45 years of age and able to demonstrate a vocational level of English.

Instead, applicant’s proposals will be vetted by State or Federal Government entities, with these entities able to partner with incubators and accelerators to identify potential applicants for nomination.

Entrepreneurs who are successful in establishing their business venture in Australia will become eligible to apply for permanent residence.

The South Australian Government is working with the Department of Home Affairs on the implementation details for the visa which will be available in the 2018-19 program year.

Learn more about the benefits of doing business in South Australia here.

For more information, please contact our migration team at info@australasiaeduconnect.com.au.

Sources:

• http://migration.sa.gov.au/news-events/news-releases/2589
• https://www.saliberal.org.au/new_visa_to_boost_sa_business