Change in Business Essay

603 WordsMay 8, 20133 Pages
Reforms to the Business Skills Program from 1 July 2012 Current business skills visas New Business Innovation and Investment Program Venture capital entrepreneur Streams in each visa Direct permanent entry Business Talent (subclass 132) A state or territory sponsored permanent visa for high calibre business owners. Business Talent (subclass 132) A state or territory sponsored permanent visa for high calibre business owners and entrepreneurs. Applicants may be inside or outside Australia at the time of visa grant or application and must submit an expression of interest (EOI) in SkillSelect. Applicants must have sourced $1 million in venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL) to fund the start up or product commercialisation of a high value business idea in Australia. Significant business history Applicants must: • be a high calibre business owner who will enter into business in Australia • be less than 55 years of age or the nominating jurisdiction must provide their support to waive the age requirement • have net business and personal assets $1.5 million ($400 000 must be net business assets) • have a business turnover of $3 million. Established Business in Australia (subclass 845) Regional Business in Australia (subclass 846) Business innovation stream Applicants must have: • a genuine and realistic commitment to be involved as an owner of a new or existing business in Australia Stage 1 provisional visas Independent visas: • Business Owner (subclass 160) • Senior Executive (subclass 161) • Investor (subclass 162) Business Innovation and Investment visa (subclass 188) A state or territory sponsored provisional visa with no minimum English requirement and is valid for four years. Applicants may be inside or outside Australia at the time of visa grant or application and must: • have a points
Open Document