To be eligible to start your own business you will need the appropriate visa, proof of enough capital and the business acumen to be successful in the Australian business environment.
Applicants in this visa category have two options; either starting their own business in Australia or buying an established Australian business. One way of finding a business to buy is to go through a buyer’s agent. These agents can help to negotiate terms, prices and other details. This a popular route for the newly arrived expat as they are dealing in unfamiliar territory and a buyer’s agent can make the whole process much smoother.
An experienced immigration agent will be able to advise on local legal requirements and other regulations, such as taxes, employment law and insurance pertaining to your Australian business.
It is imperative that, as an expat business owner, you are able to give the Australian Immigration Department assurances that you have access to the financial backing needed to be successful while you would also have to build a strong Australian credit history.
Expat business owners also have access to certain grants that can be applied for via the Australian government in order to start a new business. Your immigration agent will be able to supply you with more information about these grants and will be able to determine the likelihood of your success in receiving one of these grants.
Australia has a shortage of skilled workers. This is particularly true of both professionals and tradesman. Tradesman who would want to start an Australian business so that they may be self-employed often has a better chance of visa success.
Being able to demonstrate that your business will grow the local economy by employing Australians will count in your favour. Some visas granted for businesses will state that a minimum number of local staff should be hired, so you may want to take this into consideration when writing your business plan.
The first step in obtaining an Australian Business visa is to submit an Expression of Interest (EOI), indicating that you are interested in obtaining an Australian visa. Your immigration agent will be of great assistance during this process. Their experience and qualifications could be the difference between receiving an invitation to apply for a visa from the Australian government or being rejected.
Your expression of interest specifies:
• which visa / immigration stream you intend to apply under
• whether you are interested in doing business in just one or more Australian states and territories.
Once your expression of interest has successfully been submitted an Australian state or territory will decide whether to nominate you to apply for the visa or reject your application. State and territory authorities have their own criteria for deciding who to nominate.
Successful candidates, who receive an invitation, will have 60 days to apply online for the visa. At this point your immigration consultant will advise you on the visa application procedure for your specific situation as you are likely to need extensive supporting documentation. Your consultant will then, in consultation with you, start compiling your documents early in the process, so you can respond within the 60 days if you receive an invitation.
What this visa lets you do
The Australian Business Visa allows you to establish a new or develop an existing business in Australia.
This is a permanent residence visa. It lets you and any family members who have also been granted this visa:
• stay in Australia indefinitely
• work and study in Australia
• enrol in Medicare, Australia's scheme for health-related care and expenses
• apply for Australian citizenship (if you are eligible)
• sponsor eligible relatives for permanent residence
• travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).