An overseas business visa is for people wanting to start a business or invest in Australia, New Zealand and/or Canada. Visas within this category are designed to attract applicants who have the skills to enhance the economy these countries. The rationale for this visa category is to:
- Develop links with international markets.
- Facilitate the creation or maintenance of employment.
- Increase the export of the countries’ goods and services.
- Increase the manufacture of goods or provision of services which would otherwise need to be imported.
- Introduce new technology.
- Increase commercial activity and competitiveness.
Those who apply for and are granted Australian business visas are involved in a two-step process. The process starts with the granting of a provisional visa, which is followed by a permanent visa if the applicant meets ongoing obligations. This process applies to all business visa applicants except for applicants for the Business Talent visa, who will be granted permanent residence directly upon approval. As you would expect, the criteria for this visa are significantly more stringent than for the provisional visas.
People who may be eligible for a Business Skills visa include:
- Successful business people who own or part-own a business or businesses.
- Successful business people or investors who would prefer to invest substantial sums into Government-backed funds for fixed period of four years.
- Certain business people who have established successful businesses while offshore and are the holders of qualifying visas.
- For all business visa applications, it is a requirement for the applicant to submit a detailed business proposal and demonstrate that they have sufficient assets to settle in Australia, New Zealand or Canada.