Found n read your very informative blog last few days. Very good contents indeed.
I read about many skilled migrants stories and advises in the net, likewise in your blog. Apply for PR, moved to Australia and then get a job.
However, i could hardly find business visa migrants stories and advise from the net.
Many businesses in OZ are for sales, one of them is restaurants. takeover prices can be range from 30k to 1m. In fact 100k to 200k canable to takeover a pretty well equipped restaurant in many cities in OZ. 30 to 50k can even buy over a takeover counter.
I would like to check with you if you have any knowledge if a foreigner buy over a restaurant and become the new owner of the restaurant or company, is he able to obtain a business visa or sponsor himself by using his company in order to reside and run the restaurant in OZ?
To be honest, it might not sound so simple. Spend 50k to buy over a take away counter and can be able to run biz and stay in OZ! Maybe a proper setup restaurant that employed at least two local Australian might be possible.
See if you could able to help me and advise on my doubts?
Business migration is split into two main categories. [singtalk] 1. no so wu lui business wannabes 2. throw money at Oz govt type [/singtalk] The subcategories are namely:
Not-so-wu-lui (have to go through the Points System)
- Business Innovation stream
- Investor stream (willing to invest at least AUD 1.5million in Australia)
Throw money at Oz govt (don't have to go through the Points System)
- Significant Investor stream (willing to invest and maintain at least AUD 5million in Australia)
- Premium Investor stream (same as the above but AUD 15million)
- Business Innovation Extension stream (don't know)
- Significant Investor Extension stream (don't care)
It is not surprising not to find anecdotes of business migrants because anyone who could afford to negate the points system will not be writing accounts or finding out about their migration process online. All the hassle will be done by a hired hand.
To answer your question right away,
"I would like to check with you if you have any knowledge if a foreigner buy over a restaurant and become the new owner of the restaurant or company, is he able to obtain a business visa or sponsor himself by using his company in order to reside and run the restaurant in OZ?"
The short answer is yes. My current boss obtained his Australian PR by starting a business here. He isn't even here 99% of the time but his PR status can be maintained as long as the business is still running and hitting a required revenue.
The long answer will be the points system (unless you have AUD 5 million to spare). You will need at least 65 points accumulated from the following items to be qualified
55 and older
English language ability
Australian trade certificate, diploma or bachelor degree by an Australian education institute; or
a bachelor qualification recognised by an education institution of a recognised standard
Bachelor degree in business, science or technology by an Australian institution; or a bachelor qualification by an education institution of a recognised standard
The nominating state or territory government agency could decide that your proposed business is of unique and important benefit to the state or territory where the nominating government agency is located
Net business and personal assets of you, your partner or you and your partner combined in each of the preceding two years of at least:
Annual turnover in your main business during a period of at least two years of the preceding four fiscal years of at least:
Business Innovation stream only
You have held one or more businesses before you were invited to apply for the visa for:
Not less than four years within the preceding five years
Not less than seven years within the preceding eight years
Investor stream only
Eligible investment of at least AUD100 000 held for:
At least four years before the time of invitation to apply for the visa
At least seven years before the time of invitation to apply for the visa
Business innovation qualifications
At the time of invitation to apply for the visa:
Evidence of registered patents or registered designs
Evidence of registered trademarks
Evidence of formal joint venture agreements
Evidence of export trade
Evidence of ownership interest in a gazelle business
Evidence of receipt of grants or venture capital funding
|State or territory nomination||Special endorsement (limited places)|
So take for example,
If you are 32 years old (30) who is proficient in English (10), have a recognised business degree (10) with 5 years of business experience in Singapore (10) and are able to obtain special endorsement from by proposing an amazing business plan (10) like AIMS, you will have chalked up a nice 70 points, well qualified for your visa.
You are 40 years old (20) who is proficient in English (10), have a recognised diploma (5), have a net worth of AUD1.3 million (15) combined with your spouse and have at least AUD100,000 of eligible investment for 7 years (15), you will have 65 points.
You can do a mix-and-match and see how else you can chalk up 65 points.
I hope this answers your question.
For more information read up on here