Australia is one of the advanced economies of the world and many people
immigrate to Australia for business purposes. Recently, people have been establishing their start-ups in Australia due to a wide range of reasons. Some of them are-
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Stable and advanced economy - According to few surveys, Australia has not faced recession over the last 20 years. This makes its economy stand out. The Australian economy has also been expanding because of the strong demand for Australia's natural resources and its growing finance sector. Australia offers entrepreneurs a secure and low-risk business environment.
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Serves as a foundation for Entrepreneurs - Australia offers entrepreneurs a foundation to build their own startups. Strict laws and regulations govern the businesses and start-ups in Australia. Apart from this, the excellent quality of life attracts the immigrants.
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Flourishing industries - Australia is experiencing growth as many industries are flourishing. Finance, Agriculture and Health industries are still expanding and supporting the Australian economy.
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Provides a space for research and innovation - Australia has advanced in a lot of fields like science and clinical medicine research. With the advanced technologies and discoveries, Australia is progressing forward. Due to its emphasis on innovation, Australia is highly liked by international investors and entrepreneurs.
We will discuss two main Australian Startup Visa categories. There are many other provisional visas that are available. Each visa type has its own eligibility criteria.
Entrepreneur Stream - Subclass 188
Subclass 188 is the provisional visa for startup and early stage entrepreneurs. With this visa, you can carry out investment and business related activities inside Australia. This visa allows you to stay there for five years.
This provisional visa provides an opportunity to apply for Permanent Residency in Australia. The candidate can apply for Subclass 888 if they are able to meet the requirements of the visa.
Eligibility Criteria -
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A minimum of 65 points out of 100 is required for qualifying for the visa process. The point system depends on the age, language proficiency and business size.
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The candidate must be in good health. The medical reports of the candidate must be submitted and verified.
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The applicant must be below 55 years of age.
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An annual business turnover of AUD 750,000 for two of the previous four fiscal years.
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The candidate has AUD 1,250,000 in net business and personal assets.
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You should have a company idea that satisfies the requirements of any Australian state or territory
What are the benefits of Subclass 188 Visa?
The benefits of Subclass 188 Visa are-
- Bring in family members with you
- An opportunity to apply for Permanent Residency
- Establish a business startup
Application Process -
The application process is a difficult task. One should make sure that the application is error-free and is submitted on time. The candidate can hire a MARA registered immigration consultant for the process.
The applicant must submit the necessary documents and submit an Expression of Interest to the Department of Home Ministers. After submitting a request for nomination, you will have to wait for it till the process is complete. Once you receive the nomination, you can apply for the visa.
Business Investor Visa - Subclass 888
Subclass 888 Visa is for those who have already entered Australia on a temporary visa (subclass 188) and fulfilled specific conditions. This visa can grant you Australian Permanent Residency. Through this visa, the entrepreneurs can go on operating a business startup in Australia or engaging in investment activities there.
Eligibility Criteria -
In order to be qualified for the Subclass 888 visa, candidates must fulfill the following criterias -
- The candidate must be in good health. The medical reports of the candidate must be submitted and verified.
- Candidates must be eligible for and have fulfilled the requirements of the subclass 188 visa streams.
- The applicant must provide sufficient documentation of business transactions.
- Candidates must provide proof of a legitimate, continuous business start-up or investment activity in Australia.
- Depending on the stream type, there might be certain requirements about business turnover and investments made in Australia.
Types of Streams -
Under this visa category, there are different types of streams.
- Business Innovation Stream - This stream is for Australian business owners and managers.
- Investor stream - It is for people who have continued to make specified investments in a state or territory of Australia.
- Significant Investor Stream - This is for those who have kept up their investments in Australia and wish to carry on with their business and investing there.
- Entrepreneur stream - This targets people who have a third-party funding agreement in place to carry out entrepreneurship activities.
Application Process -
The application process for applying for Subclass 888 is a complex one. The candidate can hire a MARA registered immigration consultant for this visa process.
The applicant must submit the necessary documents that the Department of Home Ministers and other concerned authorities demand. The necessary documents include proof of investment, identification documents and business and financial documents. The candidate must be nominated by an Australian state or a province.
The process is almost the same as Subclass 188 except that you need not submit an Expression of Interest. The processing time can vary depending on the complexity of the visa application.
If the visa is approved, then you can continue the business and investment activities inside Australia. You can also consult us for the visa process as our immigration experts can assist you accordingly.
Who is the Best Australian Startup Visa Consultant in India?
Stark Visas is the
best Australian Startup Visa Consultant in India. We provide premium services for immigration to Australia. We also assist in the Visa process and help them sort their queries in the process.
We also provide 1-on-1 counseling sessions for aspiring entrepreneurs. With 7000 plus successful immigration stories, Our team has proved to be trustable in all these years. For us, our customers are our priority. We truly believe in helping our client in the best way possible.
We have highly-skilled professionals who have their expertise in Australian immigration. You can keep checking our website for more information on startups, Australia PR and recent immigration updates.
