Overseas entrepreneurs can be offered four years to prove their idea is victorious for qualifying for a permanent visa under a plan which is being considered by the Australian government.
These entrepreneur visas are part of innovation policy of Australian Prime Minister Malcolm Turnbull, which was announced in December last year for allowing the foreigners with an original idea and investor backing for commercializing the concept and be permitted to reside if they are successful.
The visas would also permit easy routes to the Australian permanent residency for post graduate researchers with the qualifications in technology, engineering and science.
According to Peter Dutton, Australian Immigration and Border Protection Minister, the Australian government was considering the regulations around the visas that includes how long the individual should be permitted to reside before their scheme is deemed successful and whether the territories and states must be involved, whether those individuals with the ideas of real estate are removed and whether other visa classes must be cut.
The Australian government would look at the assessing applicants on where they receive their funding.
The Australian Department has asked the stakeholders to look at if the ideas from the residential real estate development or schemes should be eliminated and whether the idea must be limited to technology and science.