A New Visa for Overseas Entrepreneurs has now been launched by South Australia. It is under the pilot program for Startup Entrepreneurs who intend to set up a business in the state. The visa had been announced in 2018 March prior to the South Australia state elections.
Peter Dutton, the Minister of Home Affairs has said that the new Visa will promote investment and growth in South Australia. He had given an undertaking to the Liberals in South Australia to pilot the visa. It will be rolled out at the national level in 2019, as quoted by the SBS.
The fresh visa will be different from the current Business & Innovation and Entrepreneurial visas. It will not mandate any outlay for funding. The applicants will only be required to demonstrate language proficiency in vocational English.
Overseas Investors and Entrepreneurs will be required to have an innovative idea supported by a business plan for the new Visa. They will be permitted to apply for a Provisional Visa to set up their venture in Australia.
The Federal or State Government of Australia will examine the business proposal of the applicants. Those who can fruitfully setup their business in the nation will qualify to apply for Australia PR.
The pilot program will run for 4 years plus. 30 places will be allocated in the first year. The number of Visas under the program will increase every year.
David Ridgway the Minister for Investment, Tourism, and Trade in South Australia said that the Visa will promote local entrepreneurial culture growth. This will enhance the number of jobs for the South Australian, he added.
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