In our earlier post we discussed the Department of Immigration’s requirements for the granting of a permanent residency visa under subclass 132B.
To recap, this is a visa pathway for those who have obtained at least A$1 million in funding from an AVCAL approved Australian Venture Capital firm.
Sponsorship (also known as a nomination) is required by a State Government to obtain a visa under this subclass.
If the applicant intends to establish a business in NSW an application for sponsorship is made to the NSW Government.
In addition to the Department of Immigration requirements, the NSW Government requires that applicants have a business plan for a complying entrepreneur activity that demonstrates that the activity that is to be undertaken in NSW:
- Proves a commitment to maintaining an ongoing relationship with NSW, and
- Is proposed to lead to the development of an enterprise or business in NSW, or the commercialisation of a product or service in NSW.
The NSW Government advises a priority processing time of five (5) business days for Business Talent visa nomination applications, so long as the application documentation is complete.
The NSW Department of Industry has removed the “excluded industry sectors” criteria from its business visa nomination requirements.
The “excluded industry sector” criteria restricted the type of businesses that business migrants could set up in Sydney.
According to the NSW Government: “By removing the criteria and making this change, we aim to attract more business migrants who provide goods and services to all areas of NSW.
The business migration program plays an important role in making NSW a globally attractive location to live, learn, work, invest and to produce goods and services. The new and improved criteria will support the aim of the NSW migration program to create jobs, boost productivity and strengthen the economy.”
The sectors previously excluded were:
Cafes & Restaurants; Takeaway Food Services; Supermarket & Grocery Retail Stores; Fruit & Vegetable Retailing; Specialised Food Retailing; Newspaper & Book Retailing; Clothing Retailing; Footwear Retailing; Other Personal Accessory Retailing; Houseware Retailing; Manchester & Other Textile Goods Retailing; Other Electrical & Electronic Goods Retailing.
If you are business owner who is interested in moving to New South Wales we invite you to complete the enquiry form on this page. We will be delighted to have an initial discussion with you on a no obligation basis about your plans and how we might help.