What are my options to live and run a business in Australia if my career is not listed in the occupation list?

Answers

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  Lisa De Leon

  Australian Visa Options

  February 01, 2022

  You do not need to have an occupation on a skilled list to apply for a business and investment visa. However, you do need a business or investment background to apply for a 188A Business Innovation stream or a 188B Investor stream visa. There is also a points test for these two streams where points are awarded for criteria including turnover and assets, age and educational qualifications among others. If you do not have funds available for your business idea the 188E Entrepreneur visa may be a better option for you. The Entrepreneur stream requires you to have an innovative idea to commercialize a product or service, or to establish a startup business. It is for early-stage entrepreneurs who have been endorsed to develop their concepts. From July 1, 2021, the AU$200,000 funding requirement has been removed as a visa requirement. There is no points test for the 188E but you will need competent English. However, each state and territory may set additional criteria.

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  Mark Welch

  Cargil Migration Consulting Ltd

  December 08, 2021

  Business and investor visas are likely the best option to consider. There are set criteria for some of these pathways - with regards to turnover, business and personal assets, business or investment experience. There is also an Entrepreneur visa which allows applicants to establish a business in Australia, if they can obtain approval from a state/territory government to do so. I suggest you contact a Migration Agent to discuss your background, plans and whether you would be eligible to apply for a business visa.

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  Venkateswaran Palat Krishnan

  Ven Waran

  December 08, 2021

  You can carry out entrepreneurial activity in Australia for your business idea. Depending on the state/territory in Australia where you wanted to commence your entrepreneurial activity, you need to first approach the relevant state/territory government agency with your business plan, which includes how you will be arranging for the funding and how your entrepreneurial activity will benefit the state/territory.

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  James Hall

  ANZ Migrate

  December 08, 2021

  The Business Innovation stream (commonly known as 188A) is for applicants who have a history of owning and managing a business for at least 2 of the last 4 fiscal years, meeting a turnover equivalent to at least A$750,000. A net asset position of equivalent funds of at least A$1,250,000 is also required. If you don't have this pre-qualifying experience, then this pathway will not be possible. An alternative is the Entrepreneur pathway. Prior to 1 July 2021, this required an external funding agreement for at least A$200,000. Although this can be funded from different parties, usually it was via a commercial venture capital fund. From 1 July 2021, the funding requirement has been removed as a visa requirement. However, it is still up to each state or territory to decide what requirements, including funding if any, they require to be shown when applying for their support (nomination) for the application. The Entrepreneur stream requires you to have an innovative idea to commercialise a product or service, or to establish a startup. NSW (includes Sydney) and SA (includes Adelaide) both require the applicant to establish an agreement with an startup incubator / accelerator as an industry partner - this partner will be able to assist including potentially finding investment partners as required. WA (includes Perth) does not require this agreement and mainly looks at the viability of the proposed innovative idea.

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  Christina Lim

  Regis Gateways Pty Ltd

  December 09, 2021

  If you want to start a proposed business in Australia, your career does not have to be listed in the skills occupation list so long as you qualify to apply for a subclass 188 Entrepreneur Stream or Business Innovation stream visa. Depending on your business background, personal net assets and type of business, you may be able to qualify for either of the above mentioned business visas. Certain states may approve your business plan without third party funding, depending on how innovative your business idea is and provided you can prove you have sufficient funds to sponsor your own project; a solid well-researched expansion plan and a commitment to create new jobs for local workers in the state. You will need to check with the particular state you want to live in to understand their preferences and the types of business sectors they favor in order to ensure they will nominate you for the business. Having a relevant business background/work experience in the intended enterprise will definitely add to your credibility.