Best Tips For Successful Business Migration To Australia
Australia has long proven itself as a strong economic player on the global stage. With mining, farming, and small businesses making up the economic landscape, it is the perfect location for those wanting to establish or get behind a thriving enterprise. Business migration to Australia is a strong choice for entrepreneurial types and those looking for job security as the country is currently experiencing record lows of 4% unemployment that are projected to drop to 3.3% by the end of the year. But migrating can be a complicated task with many documents and regulations to wrap your head around. NTRUST has helped Singapore businessmen and businesswomen migrate to Australia successfully for nearly 20 years. During this time, we’ve navigated changing immigration trends, protection policies and government grants to ensure all potential expatriates experience a smooth migration process to states ranging from New South Wales, Victoria, Queensland and more. We’ve compiled some tips from our experience acquiring business visas to ensure the application goes off without a hitch.
1. Gather Information About The Visa Process
Before migration to Australia from Singapore, it is crucial that you understand the visa application process and what is expected of you as a potential visa holder. By gathering key information at an early stage, you can avoid being surprised by regulations and requirements down the track.
If you want to start a business in Australia as an international citizen, you will need to take that into account when putting together a business visa application. There are two main business visas you can apply for as an international entrepreneur:
- Business Innovation and Investment Visa
- Business Talent Visa
By doing research on each of these and integrating them into your Australian business plan, you set yourself up for the best chance of success in a personal and professional setting.
2. Choose A Suitable Visa
We’ve established that there are two main business visas to choose from, but how can you decide which is right for you? To put it simply, The Business Innovation And Investment Visa is a provisional visa best suited to individuals with existing business skills. It means you can operate a new or existing business in Australia. This option is valid for 4 years and 3 month with the option to submit an Australian PR application once the requirements are met.
The Business Talent Visa is slightly different and has two different sub-types. To be eligible you must have been nominated by a state, invited to apply, or have required funding or assets.
The first sub-type is the significant business history stream which is for experienced business owners looking to migrate and establish a business in Australia. You must have a net value of at least AUD $1.5 million and an annual business turnover of at least AUD $3 million.
The second sub-type, the venture capital entrepreneur stream, offers visas to business entrepreneurs who have acquired venture capital funding from a member of the Australian Investment Council (AIC). Applicants must provide proof of at least AUD $1 million in venture capital funding in Australia to develop a high-value business idea to be eligible.
There are a few other options available to individuals migrating to Australia from Singapore which you can look at on the Department of Home Affairs website, but these options we’ve found to be the most popular for potential immigrants.
3. Prepare The Right Documents
Once you’ve decided which business visa to apply for, it’s time to get your documents together in preparation to migrate to Australia from Singapore. All business visas require documents that verify your identity, English language skills, health, and character. You will also need to provide business and asset documents according to the visa requirements. These can include evidence of ownership, net value of business and personal assets, financial statements, business registration, and information about losses or insolvency. If you are unable to provide all the required documents concerning your business and reason for visiting Australia, your application will likely be rejected.
4. Apply For Your Visa And Check Your Application
Now it’s time to apply for your business visa and pay the registration fee. You can do this through the official Australian visa website where you will be asked to fill out a digital application form and submit relevant documents.
Once all the information is submitted, review everything to ensure the information is correct. Any false or misleading statements, whether conscious or accidental, will limit your chances of a successful application. You can then pay the Australian business visa cost. Then you must wait to hear whether your application is accepted before migrating to Australia from Singapore.
How Can NTRUST Assist You In Your Business Migration Visa Process
To help optimise your chances of a successful Australian business visa application, consider getting in touch with the team here at NTRUST. For nearly 20 years we have helped Singapore families and individuals migrate to Australia through various visas. We know the system and application process well, so we can provide advice on application strategies most likely to result in approval. Reach out to us today – we are offering 10% off for all our services ONLY in the month of May. Call up our team to have a chat about how we can help you, or browse our blog for helpful articles about migration to Australia from Singapore.