South Australia (SA) introduces a new visa for startups to establish a business in the state. SA has allocated a total of $400,000 to implement a pilot program for the new South Australia Visa that will benefit the startup entrepreneurs to establish a business in the state.
Unlike the current entrepreneurs, the new visa will not need $200,000 as fund and the requirement for the English language would be 5 in each Band of IELTS.
It was first announced this year in March, i.e. before the State election of SA. According to the Minister of Home Affairs, Peter Dutton, the new visa will foster the economic, business growth, and investment in Australia.
As per Government, it would increase the job opportunities in the State and would boost the economic growth by attracting new startups for operations in Australia.
This new visa option would be different from the existing Business & Innovation and entrepreneurial visas because it doesn’t require any mandate funds. The applicant only has to demonstrate the vocational English language proficiency.
Foreign Investors and entrepreneurs who have innovative ideas and a supporting business plan can apply for a temporary visa with the new visa to establish their venture in Australia.
Business proposals of the applicants will be examined by the State and Federal Government and those who will be establishing their business successfully will become eligible for Australia Permanent Residency.
The new visa will bring growth in the local entrepreneurial culture, says David Ridgway, the Minister of Trade, Tourism, and Investment of South Australia. This will drive innovation and entrepreneurialism in the state with an increase in future potential to employ South Australians.
The applicants interested in the new South Australia Visa must be under 45 years of age and have band 5 in each of the 4 components of IELTS. They must meet the health, financial and character requirements as set by the Federal government.
You can check whether you are eligible or not to move to Australia through our Australia Immigration Eligibility Checker.