Are you thinking about starting and running a business in Australia from another country? No need to stress! A great start is the right work visa. Learn about the best visa for your situation and understand your responsibilities with simple explanations.
When you embark on a business journey as a non-citizen, here’s what you should have in your knowledge bank:
Determine the necessary visa type
Secure the appropriate visa
Familiarize yourself with legal and governmental prerequisites for Australian businesses.
Step 1: Grasp the Visa Procedure
The Department of Home Affairs holds the reins of Australian business visas. If you aren’t an Australian citizen or a permanent resident, securing a visa becomes imperative for working in Australia.
Before you embark on the visa application journey, there’s a preliminary step. A state or territory government must nominate you.
Here’s the general route to follow:
Express your interest by using the Department of Home Affairs’SkillSelectonline platform.
Await an invitation from a state, territory government, or Austrade’s CEO to apply for the visa. You can patiently anticipate their contact or take the initiative to reach out to them.
Once you receive an invitation, you’re eligible to apply for the visa. This necessitates fulfilling specific criteria and furnishing the necessary documents to validate your application.
Step 2: Discover Your Ideal Visa Match
When it comes to non-citizens aspiring to lead businesses in Australia, tailored visa choices await.
Business Innovation and Investment (Provisional) Visa:
For those already equipped with business acumen, theBusiness Innovation and Investment provisional visais a potential path. Crafted for individuals with business expertise, this provisional visa greenlights the management of new or existing Australian businesses.
If granted, this visa remains valid for 4 years and 3 months. Plus, fulfilling specific requirements could open doors to applying for a permanent visa.
Business Talent Visas:
If you’ve been nominated by a state or territory government agency, invited to apply for the visa, and possess the necessary financial backing or assets, the Business Talent visa is within reach. This visa is permanent and comes in two variants:
Significant Business History Stream:
Tailored for adept business proprietors aiming to steer new or established enterprises in Australia. Eligibility hinges on:
– a net worth of at least AUD $1.5 million
– an annual business turnover of at least AUD $3 million.
Venture Capital Entrepreneur Stream:
Designed for entrepreneurs kickstarting new ventures in Australia with venture capital funding from a member of theAustralian Investment Council(AIC). Eligibility criteria involve having a minimum of AUD $1 million in Australian venture capital funding to nurture a high-value business concept.
For comprehensive guidance on a suitable business visa, navigate to the “Explore Your Visa Options” section on theHome Affairs website.
Step 3: Establish Your Business Down Under
The investment of time and funds necessary to initiate and sustain an Australian business can vary considerably. The extent of this depends on your chosen business type and the requisite resources and licenses. To navigate this process, consult the following references:
Business Kick-Start Guide: Offers insights into business planning, diverse business models, and the stages to incorporate an enterprise in Australia. When you’re ready tosetup a companylet us know.
Legally Sound Business Practices: Explores prevalent legal domains demanding adherence while conducting business in Australia.
Commencing a Corporation: Delivers insights into company structures, legal responsibilities, and the significance of Australian Company Numbers.
Australian Business License and Information Service: A comprehensive resource detailing government-related aspects encompassing licenses, permits, endorsements, registrations, compliance codes, standards, and guidelines.
By tapping into these resources, you can pave a smooth path to setting up and managing your enterprise in Australia.
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