As part of the innovation package from the Australian Government, the government has announced the modifications to its Investment Visa, introduction of latest Entrepreneur Visa and levying tax incentives for the investors in the startup firms.
These announcements are part of innovation initiatives that would help the foreign investors for investing in the technology sector of Australia and also facilitating the business and skilled migration for helping the emerging markets in Australia.
Modifications to the Investor Visa, funding sources for startups of Australia
Reforms in its Investor Visa which was started in the month of July last year, has focused international investment on emerging enterprises, growth private equity funds investing and venture capital in startup companies and small companies.
Investor visa is provisional visa that offers a route to PR for its visa holders who meet its requirements.
The applicants of this visa should invest minimum 5 million Australian dollars in complying key investments for four years.
Tax Incentives for investments in startups of Australia
The government has also planned to implement additional tax incentives for the investors who invest in the startup firms. Few steps has to be taken by the government for making it as a law and it would apply to the shares issued from 1st July 2016 or from the date the bill becomes law.
New Entrepreneur Visa
The latest Entrepreneur Visa is planned to be introduced as a latest provisional visa in November 2016. It would offer a new route to the Australian PR and would also establish a latest stream with the existing Business Investment and Innovation Program. Entrepreneurs with increasingly developed potential ideas that are capable of being implemented in the country and who had acquired investment backing from third party would be given this visa.
With this latest visa, government is hopeful in boosting the economic development and employment in IT and Communication technology and science, engineering, technology and mathematics (STEM) fields.
The changes in the Investor Visa, planned tax incentives and latest Entrepreneur Visa offer latest prospects for overseas investors and businesspersons to participate in and assist the emerging markets of Australia.