Australia is a country that has an attractive economy. Most people in the country are businessmen, and the country has a good setup for new business opportunities. So, it is pretty standard that you might want to start your own business in Australia and want to get more info on foreign business VISA Australia. But in that case, the main question is, “are you or are you not an Australian citizen?”-If you are an Australian citizen or have citizenship in Australia, there is nothing to worry about. But if you are not an Australian citizen, you need to follow a specific path.
Well, starting a business in Australia if you are a non-citizen is not impossible. It needs the right guidance! And we ( immigration consultants in Sydney) here are going to give you the essential guide you need!
Who is a non-citizen of Australia?
A non-citizen is primarily a person who was born in another country. We all know that birth defines our nationality and citizenship.
However, some people were born in foreign countries, but through studying and working in Australia gain citizenship. These people are also known as Australian citizens.
Hence, non-citizens are the ones who were not born in the country or the individuals who do not have citizenship in the country. Australia is a country that is popular among many tourists and other business people. Hence, because you are known as a non-citizen, do not think you are alone in the country.
Can I start a business in Australia as a non-citizen?
The world is globalizing pretty much every day. We hear about new inventions, new technologies, and even modern economies. And in such circumstances, it is a bit exciting to do business. When it comes to starting a business, we all prefer a country with a stable economy.
Hence almost all the countries provide the opportunity to foreign citizens to start businesses in their countries. Technically speaking, doing business in another country means that you are contributing to that the economy of the country.
So, the answer to whether you can start a business in Australia as a non-citizen is a yes under a foreign business VISA Australia categories!
What are the VISA options available to those who are willing to start a business in Australia?
The Australian government offers you with various visa options to migrate to Australia to start your business. They are committed to making diversify your business expertise when compared to others. This gives you an upper hand in getting a visa for your business idea.
Hence the business innovation and investment program of the Australian government is something you should check out!
Under the business innovation and investment visa, there are three visa types that you can apply.
- Business Talent (Permanent) visa – subclass 132
- Business innovation and investment (provisional) visa – subclass 188
- Business innovation and investment (permanent) visa – subclass 888
You can apply other options if you are planning to start a business in regional Australia. These visas operate in tandem.
Foreign Business VISA Australia – talent (permanent) category
This visa is exceptionally for foreign citizens. However, you need first to send an expression of interest through SkillSelect. Then the Ministry of Immigration will invite you to apply for the visa. Without this invitation, you cannot apply for this visa.
To be invited, you need to have the following qualifications:
- You must have the required funding and assets.
- The annual business turnover should be at least AUD 3 million.
- You must have a net value of at least AUD 1.5 million.
- You should also have a proper business history, which is both viable and valid. A
Significant business history with a hint of innovative thinking will give you more success.
If you have these, you are in a better chance to get an Australian business visa. For grabbing more information, you should visit their website in https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-talent-permanent-132
Business innovation and investment (provisional visa)
You have to submit an expression of interest and get an invitation to apply for this visa type too. This visa allows you the following:
- For owning and managing a business in Australia
- Conducting the business and engaging in investment activity in Australia.
- You can also take on entrepreneurial activities in Australia.
With the business innovation and provisional investment visa, you can stay in Australia for four years and three months.
The conditions to be eligible are as follows:
- You must operate a new or existing business in Australia.
- An Australian state or territory government agency should nominate you.
- Proof of funding or assets.
There are three several streams available in this very visa type. They are:
1. Business innovation stream – standard rules.
2. Investor stream – invest AUD 1.5 million in an Australian state or territory.
3. Significant investment stream – invest AUD 5 million in complying with substantial investments.
4. Entrepreneur stream – have a third-party funding agreement.
5. Premium investor stream – you will have to invest AUD 15 million in Australian investments.
6. Significant investor extension stream – you can extend the visa for four more years if you already have a subclass 188.
7. Business innovation extension stream – you can extend the stay up to 2 more years if you already have a subclass 188.
To get more details about all these streams, just visit the official website of Australian immigration and home affairs https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innovation-and-investment-188
Business innovation and investment (permanent) visa
This is a visa provided to foreign business entrepreneurs, investors, and business owners to continue their activity in Australia.
To be eligible to get this visa, you need to have a subclass 188 or another visa that is about the subclass 888.
You have specific streams in this visa as follows.
1. Business innovation stream
2. Investor stream
3. Significant investor stream
4. Premium investor stream
5. Entrepreneur stream
Since the rules and regulations for these visas change often, it is better to check out their website on https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/business-innovation-and-investment-888/
What do you need to know before starting a business in Australia?
To start a business in Australia, you now know that you need to submit an expression of interest. But how do you make sure that they approve your expression of interest? For that, first of all, you need to have to consider the following details about your business proposal.
- Appropriate business structures
- The location of your business premises
- Decide how you will protect your intellectual property
- Determine the ways to obtain the licenses
What are the legal requirements that you need to check before starting a business as a non-Australian citizen?
When doing business, we all know that we need to consider some options such as employing workers, etc.
But when doing business in a foreign country after migration, there are special rules considering the legal background.
You need to consider;
1. The tax payments
2. Employing workers
3. Health and safety requirements of your workers.
4. Reporting and disclosure requirements set by the Australian Securities and Investment Commission is an essential requirement under any foreign business VISA to Australia
5. Complying with consumer law and labor law.
If you need professional advice on business and investor-related immigration services, we advise contacting any of our agents via Australian Visa lawyer, Immigration Agent Melbourne, or Immigration Agent Sydney for a free visa consultation.