Australia – a land of opportunity for entrepreneurs

Australia is a land of sunshine, blue skies, sandy beaches and seemingly endless economic growth. No wonder it is such a popular destination for so many people and frequently featured as one of the best countries in the world to live. [1] Western Australia also has a strong business migration program for successful business owners who want to relocate to the land down under. 

Australia has more than 28% of its population born overseas and is a clear immigration leader among developing countries. Their contribution to the economy isn’t just an economic advantage, it’s a demographic one, powered by mass movement of talent and human resources to the country. This leads to many well-paid jobs, a modern lifestyle and a high standard of living. Australia has one of the highest minimum wages in the world, a first class health care system, an abundance of fresh produce and vast amounts of land.  

Australia also heads the list as one of the top ten safest countries in the world for women. [2]  Its economy has a proven track record by having 28 consecutive years of annual economic growth, setting a new record among developed economies for uninterrupted expansion.[3]  

PERTH IN WESTERN AUSTRALIA  

Perth, Western Australia (WA) has a diversified and buzzing community with a strong emphasis on delivering the best in food and entertainment.  

Due to Perth’s culture, political stability, climate, safety, housing, education, and recreation, it is often ranked within the top 10 cities in the world to live. In 2019, Perth was also the highest-ranking Australian city among the world’s top travel destinations, making it not only a great place to live, but a great travel destination. 

Perth has over 30 international and domestic airlines servicing the area and its international destinations. This allows clients to both work within their local time zone as well as service their business needs.  The area shares a time zone with over 60% of the world’s population allowing business clients to stay focused on their business while living in Australia. 

For business and investment, WA is the driving force of the Australian economy bringing in 40% of Australia’s export economy. This is backed by WA having the most listed companies on the Australian Stock Exchange (ASX) compared to any other state in Australia. This includes major companies such as Shell, Chevron, BHP and Rio Tinto, which are all headquartered in Perth. 

The economy of Australia is strong due to its natural resources, such as being a world leader in mining and exports such as: Iron Ore, which accounts for over half of the world’s exports; liquified natural gas, which has an export revenue of over $50 billion; and lithium, which is being mined and processed. These great natural resources are supporting production of steel, energy and battery technologies. Western Australia’s gross state product was above 35% of Australias GDP per capita. 

Amid recent news that the Australian stock market has reached its highest share price in more than a decade, it is no surprise that Perth’s property market is enjoying an upswing with steadfast growth in popularity. 

 TOP MIGRATION DESTINATION 

Australia frequently lists in the top destinations in the world due to its high level of education, quality of life and gross national income per capita. This is recognized through the Human Development Index (HDI) where Australia placed third behind only Norway and Switzerland. 

In 2019 and for the 4th year in a row, Australia is the most popular destination in the world for migrating millionaires, welcoming some 12,000 high net worth individuals. The study was released by the global market research group New World Wealth, which studied movements of the world's wealthiest individuals.  

BUSINESS MIGRATION PROGRAM 

Western Australia has a strong business migration program for high caliber business people, where a permanent residency visa can be obtained typically within 9-12 months from the time of application.  

Applicants must successfully have owned a business or investment with an annual turnover of at least $3 million Australian dollars ($2 million American dollars) for any 2 of the past 4 years and wish to move and create a business in Australia. 

The 132a visa is offered as a federal program but requires an Australian state to sponsor the applicant. In doing so, each state can support clients that provide a benefit to their individual state’s needs and sectors that require growth. Therefore, not every state will give sponsorship for business investment and could have high financial and client background requirements. 

In Western Australia, a HNWI can obtain this visa by meeting the following criteria:  

• Business Investment in Western Australia of at least $2.5 million Australian dollars. 

• Creation of at least one new job (full time equivalent) in Western Australia. 

• Own a residence and live in Western Australia. 

Once the client requirements are met, the client would visit Perth to see applicable projects with the developer. From here, a representative from the Migration Agent Registration Authority can ensure compliance and process all formal applications with the state government to obtain sponsorship. 

 Sources:

[1] World Population Review for Best Countries to Live in 2019.

[2] New World Wealth Migration review in 2018.

[3]

http://www.tourisminvestment.com.au/en/research-insights/news/Australia-Enters-28th-Consecutive-Year-of-Economic-Growth.html

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