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Business Visas Australia
Hello, I'm Mege Dalton of Business Visas Australia.
I wanted to make a quick video about the recent changes to the
Australian business visa programme.
The changes came in to effect in 19th of April
and realistically it has meant that the Australian
government has made a lot more difficult for people
to apply for an Australian business visa.
For some people they’ve been lucky in that they have
their visa applications already launched with the
department of immigration before the changes were introduced.
For all the people they’re still on track but they've
had to review their commitment to applying.
But the unfortunate thing is that for a lot of people,
the option of applying for a business visa
to immigrate to Australia no longer exists
So what are these changes?
Due to fraud and integrity issues with past applications
this option has been removed by the Australian government.
For senior managers of major overseas businesses,
an option of a senior executive visa may be
viable given the change or employer sponsored visa
but the reality is for many senior managers of companies
which make under $10 million in turnover, the
window of opportunity to immigrate has closed completely.
What this means is that an applicant for subclass 163 or a subclass 164
visa must now assure they have $500,000
in assets for the purposes of business investment in Australia.
In addition to this, they also have to show settlement funds.
The western Australian government for example
requires an applicant who is applying for Western Australian
Sponsorship for a subclass 163 visa application to have
$50,000 in settlement funds in addition to the $500,000 for business investment.
Others states will have an amount they deem
as appropriate level for settlement.
For more information about this and
other sponsorship requirements, visit their web site.
http://australia.gov.au/topics/immigration/state- and-territory-migration-sites
Moving on, the Australian government has increased
the minimum net asset level for the subclass
160 and 161 to $ 800,000 from $500,000
So effectively an applicant of one of these business
visa categories is going to need to show
they have $800,000 available to invest in a
business in Australia not forgetting additional funds of settlement.
The Australian government has introduced these increases
due to the increase cost of living and doing business in Australia.
Previously Australian business visa applicants were relying
on a business ownership interest were required to
show at least 10% ownership in that main business.
With the new changes the level of ownership interest
required to be shown in a business visa application
will now be directly linked to business turnover figures.
The following will apply:
where business turnover is $ 400,000
or less an applicant must have at least 51% ownership interest.
Where the business turnover is above $400,000
an applicant must have at least 30% ownership interest.
Where the business is a publicly listed company
an applicant must have at least 10% ownership interest.
This amendment applies to all business owner visa categories
including subclass 132, 160, 163, 890, 892, 845 and 846,
and applies to the definition of ‘main business' in migration regulations.
A transition arrangement is available for anyone who
currently has a provisional business visa and who has
purchased to business in Australia prior to the change
and who is also applying for a permanent onshore business
owner visa like the subclass 890, 892, 845 or 846.
These major changes were made by the Australian government
after it considered comments and feedback from Australian
state government such as Queensland and Western Australia
who sponsor the majority of business visa applications.
The main reasoning behind these changes was to improve
the benefit of the Australian economy like job creation
but at the same time improve the integrity of the visa system.
So if you’re watching and you have question about applying
for an Australian business visa or you have a general question
about business migration, feel free to contact me through my website.
Thanks for watching and goodbye.