South Australia has been selected as the pilot state for the three-year Supporting Innovation in South Australia (SISA) visa, which will encourage budding foreign entrepreneurs, with business ideas centred around emerging industries – such as space, cyber security, big data, defence, agribusiness, medical technology and robotics.
The new visa is seeking to attract promising overseas seed-stage entrepreneurs to develop their concepts in South Australia, which in turn will add value to the local innovation eco-system, create jobs, and increase its number of business start-ups in our state. While applicants won’t require substantial investment capital, they will need sufficient funds to settle with their families in Australia.
This is a temporary visa only and granted for up to three years. While there is no specific pathway for permanent residency at this stage, visa holders who meet eligibility criteria for a permanent visa during their residency period are encouraged to apply.
The key criteria are:
Have an innovative idea with a supporting business plan;
Be under 45 years of age at time of application;
Demonstrate at least a minimum of Vocational English;
Meet health, character and financial requirements;
Have sufficient funds* to support yourself and any eligible dependent family members included in your application.
Be endorsed by the South Australian Department for Trade, Tourism and Investment to take forward an innovative idea in South Australia
To get endorsed you should ideally have a business proposal in one of the following industries : Defence and Space; Cyber Security, Big Data, Digital and Blockchain; Food, Wine and AgTech; Health and Medical Technology; Robotics; Media and Film. Note: other industries may also get considered, however, there are some industries that are exempt, such as Hospitality, Retail and Franchises
If you are interested in the new entrepreneur visa and would like to discuss your options please don’t hesitate to book a consultation with our registered Migration Agent.