New Business Visa
New Business visa introduced in November
South Australia has started a new Business Innovation visa for 3 years starting from November 2018 – November 2021. The visa is named as Supporting Innovation in South Australia (SISA).
The new visa aims to enhance the South Australia’s entrepreneurialism and innovation agendas.
The application is lodged through the temporary activities sponsor (SC 408) visa stream.The criteria for the visa includes:
- Have an innovative idea with a supporting business plan;
- Be under 45 years of age at time of application;
- Demonstrate at least a minimum of Vocational level English;
- Meet all health, character and financial requirements detailed by the Department of Home Affairs;
- Be endorsed by a South Australian Government entity (Department for Trade, Tourism and Investment) to take forward an innovative idea in South Australia;
- Have sufficient funds* to support yourself and any eligible dependant family members included in your application.
The priority is given to the proposals for the following industry sectors:
- Defence and Space
- Cyber Security, Big Data, Digital and Blockchain
- Food, Wine and AgTech
- Health and Medical Technology
- Robotics
- Media and Film
The following business types will not be eligible for endorsement by the South Australian Government for the Supporting Innovation in South Australia – Temporary Activity visa:
- Cafés and restaurants
- Consulting firms/companies
- Employment agencies
- Export/import businesses/companies
- Franchises
- Foot reflexology
- Massage parlours
- Acupuncture
- Traditional Chinese medicine
- Herbal dispensing businesses
- Geomancy/fengshui business
- Retail
Financial requirement:
You need to have combined cash and assets within the range listed in the table below. As a guideline, when you arrive in South Australia, Immigration SA recommends that offshore applicants have at least $20,000 in cash and onshore applicants have at least $5,000 in cash for settlement. You should not dispose of any assets before the visa is granted.
| Family composition | Offshore Applicant: Combined cash & assets requirement | Onshore Applicant: Combined cash & assets requirement |
| Main applicant only | Total figure between AUD $ 20,000 - 25,000 | Total figure between AUD $5,000 - 10,000 |
| Main applicant plus one (1) dependant | Total figure between AUD $25,000- 30,000 | Total figure between AUD $ 10,000 - 15,000 |
| Main applicant plus two (2) dependants | Total figure between AUD $30,000 - 35,000 | Total figure between AUD $15,000 - 20,000 |
| Main applicant plus three (3) dependants | Total figure between AUD $35,000 - 40,000 | Total figure between AUD $20,000 - 25,000 |
To know more information contact us at 02 9212 1955 or send an email to info@ausamigration.com.au
Source- Migration South Australia website