The appeal is undeniable and any decision to invest, financially and/or personally, into Australia’s future prosperity is a choice based upon sound economic sense.
Australia’s geographical status as an affluent island continent not only insulates the country and its economy from many adverse global fluctuations, it also provides a focussed platform for natural evolution and measured economic growth. In fact, the Australian Benchmark Report, recently released by Austrade, provides rich data which demonstrates why, when it comes to doing business, there are few (if any) places better than Australia.
Stability to underpin business growth
As the world’s 14th largest economy, Australia has entered its 28th year of consecutive annual economic growth; a milestone which sets a new record among developed economies for uninterrupted expansion. The country’s strong and comprehensive regulatory institutions, combined with its AAA rating, its ability to respond to global changes and its diversified, service-based economy provide sound foundations for steady economic development.
Australia’s nominal GDP is currently estimated at US$1.5 trillion (almost A$2 trillion) which accounts for 1.7% of the global economy. In the year 1999, its total production value was a mere US$411 billion, meaning that it has more than tripled in the past two decades!
In 2018, Australia became the country with the largest median wealth per adult.
Dynamic industries provide endless opportunities
Diversification opens doors to opportunity and Australia enjoys a worldwide reputation for excellence in a wide variety of fields. Natural assets and resources, agricultural, manufacturing, entertainment, tourism, medical, finance and many other ventures each set new benchmarks, as businesses continue to grow and to prosper.
Thinking of establishing a new business in Australia? The country is rated in the top 20 out of 190 economies for its efficiency and its accommodating, cooperative approach, welcoming new ventures, applauding stable management, even encouraging intelligent entrepreneurial enterprise.
Residency through investment
The Department of Home Affairs offers a selection of visa options for business investors, each providing for the ultimate goal of permanent residency:
- Business Innovation and Investment (Permanent) visa – Current holders of subclass 188 visa or subclass 444 (Special Category) may be eligible to apply for this subclass 888 visa.
- Investor Stream – Holders of a subclass 188 visa in the investor stream, who have held a designated investment of A$1.5 million in Australia for four years, may apply for this subclass 888 permanent residency.
- Significant Investor Stream – Another permanent residency stream in subclass 888. Applicants must already hold a subclass 188 in either the Significant Investor Stream or the Significant Investor Extension Stream and must have held a complying investment of A$5 million for four years.
- Entrepreneur Stream – To apply for this permanent subclass 888 visa, applicants must have lived in Australia on a subclass 188 visa, in the Entrepreneur Stream, for at least two years and during that time, must have demonstrated a successful record of entrepreneurial activity.
Recognising the potential contribution to the nation’s economy and to its society, the Australian government welcomes unique skills and committed investment into the country. Of course a number of conditions apply, but significant opportunities generally justify reasonable due diligence.
We’re here to assist you in achieving your goals
Immigration law is a complex area and one which is constantly evolving. Outcomes can never be guaranteed but comprehensive understanding, careful preparation and appropriate strategy are critical in optimising opportunities for positive outcomes.
For more information on this or on any relating issues, contact the migration experts – Sellanes Clark and Associates – specialising in all immigration matters.