Australia is well-known for facilitating various business opportunities for entrepreneurs. Some top industries available are consultant firms, catering, e-commerce stores, tech firms, and network security. Post-pandemic period, Australia looks promising for new start-ups to come into the spotlight.
Therefore, start-up business firms that can afford to open their overseas commercial operations are moving to Australia. Over the next paragraph, we shall discuss why most business entrepreneurs are looking for write my assignment in their MBA to shift to this region and move forward in their studies.
4 Main Causes for People to Shift to Australia
Entrepreneurs prefer moving to Australia due to the wide range of business opportunities available in that region. Let’s look at the 4 fundamental causes for which Australia is their preferred destination.
The 4 main reasons for business people to migrate to Australia are –
- Avail free or subsidized health care services from some of the internationally famous hospitals. You can access multiple health care services at affordable rates and obtain free medical care from public hospitals. Medicare can help eligible Australian residents, citizens, and specific visitor categories access these services.
- Gain access to a robust economic system with the Australian dollar among the safest global currencies. Migrants from the South-Eastern Asia region can send their money back to their home countries in a simple and affordable manner.
- Australia is a nation with one of the best contract enforcement among recognized business communities. It stands in sixth place among the 190 economic countries.
- Easy business establishment in Australia as the Government encourages entrepreneurship and aims to diversify business expertise. Eligible foreign citizens can gain their visas through the Business Innovation and Investment Programme and start their businesses in Australia.
Now, let’s look at the different opportunities that business people who are migrating to Australia can gain from the nation. Some of them are also looking for Business Studies assignment guidance to help them settle in their new firms in Australia.
Opportunities for Business Migrants in Australia
- Australia offers one of the world’s most stable economic systems, attracting investors and business people.
- Post-pandemic, Australia promises several new business opportunities leading to the highest number of business migrants relocating to that country.
- During the lockdown period, Australia witnessed several business migrants that moved to the country.
- With the gradual access to international travel gaining pace, Australia promises new opportunities in investments, entrepreneurship and other business innovations.
- The Australian Government hopes to boost its national economy with help from business migrants. Therefore, they have introduced changes within the BIIP or Business Innovation and Investment Program.
But like in every country, there are some standard rules that business people must follow before moving to Australia. Let’s learn about them over the following points.
Migratory Rules for Business People Migrating to Australia
Businesspeople who wish to migrate to Australia should be familiar with the >Business Innovation and Investment (Provisional) visa (subclass 188). Some of the major benefits of this visa are –
- They can operate an existing or open up a new business in Australia.
- They can earn their Australian passport and Australian citizenship through the Australian PR.
- Entrepreneurs can travel to Australia with their family (partner and children).
- Children can attend their primary and secondary education at academic institutions in Australia without expenses.
- Families can obtain Medicare that can serve them to access the public healthcare scheme in Australia.
Applicants can apply for the subclass 188 visa for their business careers which includes four streams –
- Business Innovation stream (subclass 188A)
- Investor stream (subclass 188B)
- Significant Investor stream (subclass 188C)
- Entrepreneur stream (subclass 188E).
Candidates should note that each of these four streams includes unique eligibility requirements that apply to business migrants who wish to relocate to Australia. Let’s explain them in the following paragraphs.
- Business Innovation stream (subclass 188A)– Entrepreneurs will be –
(i) Nominated by the State or Territory government of Australia
(ii) They should possess AUD 1.25 million worth of personal and business assets.
(iii) They must possess a yearly turnover value of AUD 750,000.
- Investor stream (subclass 188B)– Businesspeople should be –
(i) Nominated by the State or Territory government in Australia
(ii) Make an AUD2.5 million worth of investment in businesses in Australia. Managed funds will receive AUD1.25 million.
(iii) Attain AUD750,000 within approved managed funds.
(iv) Gain AUD500,000 in growth private equity funds and Australian VC.
(v) Gain nomination from the Australian State or Territory government.
- Significant Investor stream (subclass 188C)–
(i) Be nominated by the State or Territory government in Australia.
(ii) Have the capacity to invest a minimum value of AUD5 million to qualify for a business in Australia.
(iii) Managed funds receive AUD2.5 million from managed funds.
(iv) Approved managed funds obtain AUD1.5 million.
(v) Private growth equity funds and Australian VC receive AUD 1 million.
- Entrepreneur stream (subclass 188E) –
(i) Get nominated by the State or Territory government in Australia.
(ii) Post-immigration, they should be willing and able to undertake a compliable entrepreneur operation in Australia toward commercializing a product or service.
(iii) Be prepared to accept a complying entrepreneur activity after immigrating to Australia and contribute to developing a business or enterprise in that region.
However, let’s look at how you can make an investment or open up your business in Australia.
The 101 of Business or Investor Migration
The Australian Immigration Business Skills Visa can be a viable option for business people looking to invest in the Australian economy. The region’s thriving economic system attracts various investors, who can apply for their Business Migration Visa. In addition, you can apply for an Australian Permanent Residency visa when you’ve established your business. Students pursuing their MBA hope to fetch quality Business Studies assignment guidance to help them with fresh career opportunities.