Government of Australia launched new business visa program in November 2018. This visa is known as “Supporting Innovation in South Australia” visa; also called SISA Visa. This program will operate under South Australian Government. The purpose of this program is to attract entrepreneurs and investors to South Australia. The main feature of this program it does not require any heavy investment to apply SISA visa. It is a pilot program and Initially will run for three years from November 2018 to November 2021. This program is designed for foreigners who have creative business ideas and want to start up their business in Australia. People who have investments, can also apply under this program.
Main Features of Australia New Business Visa:
Some main features of new business visa are listed below. It will help you have better understanding of new visa program.
- This visa is not quota based, so there is no cap on this visa.
- No Investment is required for this visa.
- Visa holder can be a sole trader in your business.
- Visa holder can form and run a company with other partners.
- English language requirement is relaxed for this visa. Only vocational level English is required which can be proved with 5 bands in ielts or its equivalent.
- Applicant with this visa can work in Australia and take employment to support his main start up business.
- Applicant can include his spouse/partner/dependents in this visa.
- Dependents of Applicant can have right of unlimited work and study in Australia under rules specified by government.
- A three years “Temporary Activity Subclass 408” visa is issued under this program.
- Successful business start ups will be provided with a path to Permanent Residence of Australia after three years.
Requirements for Australia New Business Visa:
- Applicant must be less than 45 years old.
- Ielts with minimum 5 bands each or equivalent of ielts..
- Must be in good health condition.
- No criminal record.
- Health Insurance.
- Applicant must have an innovative business idea and business plan.
- Applicant have to submit business idea to South Australian Government Entity (department of trade, tourism and investment) and get it endorsed. Applicant cannot apply Australia new business visa without endorsement from South Australian Government.
- Applicant have to have enough funds for initial settlement for himself and his dependents when reach Australia. Financial means can be in form of cash, bank statement, bank guarantee or any other suitable form. The purpose of these funds is not investment.
How to Apply Australia SISA Visa 408:
Australia new business visa application process consists of two major steps which are as follows
- Apply for Business Idea Endorsement.
- Apply for Subclass 408 Visa.
Step-1. Apply for Business Idea Endorsement:
First step is to design a business idea, business Plan and submit it to South Australia Government Relevant Department for endorsement (department of trade, tourism and investment). It is actually a key to this visa. You cannot apply visa without endorsement. It is good that South Australian government have designated online portal where you can apply for business endorsement. You do not need to contact any private organizations for this purpose. South Australian Government itself will endorse your business idea. All you have to have a creative business idea and business plan. However, business endorsement itself is not a visa and it never allows you to travel to Australia Rather it is first and foremost requirement of SISA visa. Business Endorsing process is done under South Australia’s State government but it doesn’t issue visa. Only federal government issues all types of visa in Australia, so Once you have obtained endorsement, you have to proceed to Federal Government’s Department of Home Affairs (immigration) to apply for visa online.
Documents Required for Business Idea Endorsement:
You have to arrange following documents before you apply for business idea endorsement online. You should have scanned copies of these documents because you have to upload while applying online. All documents should be in English or translated into English. Please do not submit any unnecessary documents as it may delay the application process. The list of documents required is as follows:
- Valid Passport (copy of spouse passport if applicable).
- Result of English test IELTS or equivalent.
- Details of available funds for initial settlement (it is not for investment).
- Details about your business Idea, plans and other details related to your business idea.
To Read all instructions about business idea and business plan submission please click the following link. You will see complete details about this program. Read the instruction thoroughly before you apply.
When you visit this link, you will find following options:
- Before you Apply
- How to apply
- Your obligations
- Other information
You should check each option to find all relevant information.
Generally, you have to create account at South Australian Government’s website by following the above link and you can start application for endorsement. You have to choose “New Enterpreneur SISA” under Choose a Registration Type.
Readers are advised to read complete instruction before applying online as explained above.
Supporting Organizations for Business Idea:
South Australian government has listed some supporting organization which are known as eco-system providers. These organizations helps investors, entrepreneur and start ups to set up and grow their business. Australian government advised applicants to contact these organizations and send them business idea. If any of these organization accepts business idea, chances of endorsement from South Australian government will be increased to maximum.
Please Note: You still have to apply online for endorsement from South Australian government, despite you get support from Supporting organizations.
Here is list of Eco-System Providers Organizations:
You can visit website of each of above listed organization and submit your business idea. Apart from formal submission, you should contact them through email or contact us system to know more. If you successfully get support and approval from any of these organizations, You should choose ” Priority Processing” while apply for endorsement at South Australian Government’s website.
However, if you do not get support from these organizations, you can choose option two “The Office of the Chief Entrepreneur” while applying for endorsement at Australian government’s website.
What Type of Information Do you need Provide in Business Idea:
While applying online for business idea endorsement, you have to answer several questions regarding your business idea. You can get help from some business consultants or coaches to prepare your business idea and business plan. As per South Australian Government’s guidelines, you have to answer following questions regarding your business plan; your answer can be up to 25o words length:
- How you intend to further your concept, or details of your project/proposed business.
- What the problem you are trying to solve is, if there is a problem, or
- What needs you will satisfy with this product/service
- As part of the concept, idea or proposal, you must provide information on: Yourself, including any business history;
- Your key partners and suppliers, if any;
- The genesis of your business idea;
- The length of time that has been spent on the project/ product/service;
- Its progress;
- How you will build the capability to deliver on your product/service
- How your product/service will benefit the South Australian economy and innovation environment;
- How you intend to grow and develop your innovative business idea in South Australia – the type of assistance you think you may need to progress and see your concept to fruition; and
- Whether you have capital for your idea, and if you do, you need to provide details. If you do not have capital for your idea, advise how you intend to raise capital to progress your idea.
Highly Preferred Business Types:
As stated by South Australian Government, some business sectors will be given priority for business endorsement. It doesn’t mean that other business are not eligible. You can apply for any type of business as long as it is not in non-eligible business list. You can see the following list which types of business have more chances of approval:
- Defence and Space
- Cyber Security, Big Data, Digital and Block chain
- Food, Wine and AgTech
- Health and Medical Technology
- Media and Film
Business Not-Eligible for Endorsement:
South Australian government has listed some business types which are not eligible for this program. It means you cannot apply for endorsement for these types of business and no endorsement means not eligible for temporary activity 408 visa. Here is the list of ineligible business types:
- Restaurants and cafes
- Consulting companies and firms
- Employment agencies
- Import/export business/companies
- Foot reflexology
- Massage parlours
- Traditional Chinese medicine
- Herbal dispensing businesses
- Geomancy/fengshui business
Business Endorsement fee:
To submit business idea and business plan for endorsement, you have to pay fee of 200 $ online through acceptable bank card. This fee will not be refunded in any case.
Step-2 Apply for Subclass 408 Visa:
Once you have received Endorsement letter from South Australian Government, you can apply for Temporary Activity 408 visa. You have 60 days to apply for visa after receiving endorsement. You can apply this visa online at official website of Australia’s Department of Home Affairs through the following link:
Visa subclass 408 is available for various purposes. So, when you visit the above link, you should choose or Click “Australian Government Endorsed Events“. It will take you to the page designated for South Australia’s Visa programs (SISA 408 visa). You can see each and everything about this visa here.
Visa Application Fee for Subclass 408 Visa:
You have to pay visa application $285 online while submitting online visa application. The fee is non-refundable and can be changed any time by Australian Immigration.
Last date of Applications:
South Australian Government will stop receiving applications in November 2020. As mentioned earlier this is a pilot program and will run only for three years. so, if you want to apply in this program you should make application as early as possible.
How much funds Required for Australian Visa:
You need to submit proof of sufficient funds for initial settlement. Funds are not required for purpose of investment. It is just to show that you will be able to support yourself (also your dependents and your partner if they are included in your application) in the beginning when you reach Australia. As specified by South Australian Immigration You need to show following amount of funds in possession either in cash or other forms like bank statement, fixed deposits etc:
For Single Main Applicant:
20,000 $ to 25,000 $ funds are required to show for single applicant.
Main applicant plus one (1) dependent:
25,000 $ to 30,000 $ funds are required to show for single applicant.
Mai Applicant Plus two Dependents:
30,000 $ to 35,000 $ funds are required to show for single applicant.
Main Applicant plus three Dependents:
35,000 $ to 40,000 $ funds are required to show for single applicant.