Australia Sets New Rules For Business Visa
For those planning to set up a company in Australia, business visa application will be the first step that they will need to accomplish. However, just like any other visa application, this one is definitely not going to be easy. And it seems to be getting a bit harder, with the new changes to the visa visa program being announced by the Department of Immigration and Citizenship (DIAC).
One of the biggest changes that were announced was the revised set of general requirements needed to be granted a business visa. Here, the necessary funds for establishing a business have been increased. Previously, the minimum amount required to be presented as proof you have the capabilities to set up a business was around $250,000. This time around, the amount has been doubled and pegged to around $500,000. The department explained that the increase was due mainly to increased business setup costs in the country.
For those who are part of a partnership or a corporation, note that you will be required to present a proof of ownership when getting a business visa. Here, the DIAC has revised the required ownership percentage for the issuance of a business visa. Note that, like the previous listings, these percentages will depend on the actual annual turnout of the business.
For businesses which has at least AU$ 400,000 turnover, an applicant must present a share of at least 30 percent to be granted a visa. On the other hand, businesses earning less than this will require an applicant to have at least 51 percent ownership of the entire operations. If the company is already listed as public, then you will only need to show up a 10 percent share to be granted a visa.
Another major change in the business visa program is the removal of the senior manager visa option. Earlier this one has been used by companies to transfer their top personnel from other branches into Australian shore. However, due to some unscrupulous entities undermining the integrity of the whole visa option, the DIAC decided to simply suspend it. Thus, for legitimate business manager wishing to enter the country, will have to rely on the other visa options that are applicable to your position. Note that these options will likely be even tougher to go through than the previous one.
Keep in mind that these changes will be effective immediately. However, for those who have already purchased a business beforehand or have gone through the initial procedures in establishing a business here prior to the introduction of the new changes, you will be given a transition period to meet the demands of the new regulations.
One of the biggest changes that were announced was the revised set of general requirements needed to be granted a business visa. Here, the necessary funds for establishing a business have been increased. Previously, the minimum amount required to be presented as proof you have the capabilities to set up a business was around $250,000. This time around, the amount has been doubled and pegged to around $500,000. The department explained that the increase was due mainly to increased business setup costs in the country.
For those who are part of a partnership or a corporation, note that you will be required to present a proof of ownership when getting a business visa. Here, the DIAC has revised the required ownership percentage for the issuance of a business visa. Note that, like the previous listings, these percentages will depend on the actual annual turnout of the business.
For businesses which has at least AU$ 400,000 turnover, an applicant must present a share of at least 30 percent to be granted a visa. On the other hand, businesses earning less than this will require an applicant to have at least 51 percent ownership of the entire operations. If the company is already listed as public, then you will only need to show up a 10 percent share to be granted a visa.
Another major change in the business visa program is the removal of the senior manager visa option. Earlier this one has been used by companies to transfer their top personnel from other branches into Australian shore. However, due to some unscrupulous entities undermining the integrity of the whole visa option, the DIAC decided to simply suspend it. Thus, for legitimate business manager wishing to enter the country, will have to rely on the other visa options that are applicable to your position. Note that these options will likely be even tougher to go through than the previous one.
Keep in mind that these changes will be effective immediately. However, for those who have already purchased a business beforehand or have gone through the initial procedures in establishing a business here prior to the introduction of the new changes, you will be given a transition period to meet the demands of the new regulations.
As Australia Business Visa Experts we reommend everyone seeking for Business Visa for Australia to take the help and services of registered and experienced Australia Business Visa Experts.
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