Changes to the business skills migration program

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Changes to the business skills migration program

Business people wanting to migrate to Australia under the business skills migration program will need to meet increased visa thresholds from 19 April.

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Business people wanting to migrate to Australia under the business skills migration program will need to meet increased visa thresholds from 19 April.
 
A spokesman for the Department of the Immigration and Citizenship said the changes were made with the aims of increasing the contribution of business migrants to Australia’s economy, creating more jobs for Australians and improving visa integrity.
 
‘Business owners and senior executives are now required to own a greater amount of net assets in order to qualify for business migration to Australia,’ the spokesman said.
 
This change reflects an increase in the cost of living and in business establishment costs in Australia and relates to the offshore provisional visa subclasses 160, 161, 163 and 164.
 
Substantial or controlling interest in a business
 
Business owners will now be required to demonstrate that they own a substantial or controlling interest in a business.
 
This change will require a greater investment in business activity from business owners. However, this change will not apply to applicants for a permanent onshore business owner visa and who have purchased a business in Australia prior to today.
 
Senior managers of businesses overseas will no longer be able to apply for a state/territory sponsored business owner (subclass 163) visa. This visa option will be removed in response to its relatively low take-up rate and a high incidence of integrity issues.
 
Highly skilled senior managers of overseas businesses may still be eligible to apply for the provisional senior executive visas (subclasses 161 and 164) or for employer sponsored visa options.
 
Further details are available on the department’s website.
 
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