South Australia has launched a new entrepreneur program to attract talented entrepreneurs from across the world. Australia has selected the state of South Australia to pilot the new SISA (Supporting Innovation in South Australia) Visa. This visa program is aimed at attracting budding entrepreneurs in emerging sectors. Entrepreneurs in the fields of cybersecurity, space, defence, big data, agribusiness, and medical technology are highly favoured.
The SISA Visa program is different from other entrepreneur visas in that it has no financial requirement. Applicants need to submit a strong and innovative business proposal to be eligible. Also, applicants have to be under the age of 45 to apply under this Visa program.
Eligible applicants need to first apply for an endorsement from the South Australian Govt. They should be endorsed by the Dept. of Trade, Tourism, and Investment. They can then apply for a Subclass 408 visa (Temporary Activity) to the Dept. of Home Affairs.
The SISA Visa pilot has been planned from November 2018 to November 2021. Hence the validity of your visa would depend on when you are granted the same. To exemplify, if you are granted a Visa in June 2019, your visa validity would be 2 years and 5 months, since SISA ends in November 2021.
South Australia would be accepting applications under this scheme till November 2020, as per SBS News.
Currently, the visa application fee is $285 but it is subject to change. You will also need to show sufficient funds to take care of yourself in South Australia.
You can include your family members on this Visa. However, you will need to show additional funds for them as well. Dependents on this Visa will have full work and study rights in Australia.
The Subclass 408 (Temporary Activity) is a temporary visa and hence has no access to Permanent Residence. To apply for Australian PR, you will need to meet the eligibility criteria of other PR pathways.
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