South Australia leads the nation in applications for permanent resident Subclass 132 visas from overseas high net worth entrepreneurs and business people. In general, for those Business Migrants choosing to establish themselves in South Australia, they must ( within 2 years from their first arrival in SA) establish or partner with a local business, and either:
export at least $600,000 in South Australian produced or manufactured product or services ($1,000,000 if wine); or
invest at least $1,500,000 into a local business or property development.
There are currently over 400 permanent resident Business Migrants in South Australia, with over 1,400 additional migrants in the pipeline waiting for the Federal Government to approve their visa applications. That equals around $1 billion of new trade and investment into South Australia over the next 1-2 years.
Whilst the current restrictions relating to COVID-19 means there has been a slowing of activity in the short term, these business migrants will still be subject to the original 2 year time frame to meet their visa requirements. This cash injection into the South Australian economy could not come at a better time!
NW Alliance and the ACBC have partnered with Immigration SA to support local businesses to prepare for the coming influx of Subclass 132 Business Migrants.
We will be running a series of three seminars designed to support our members and local SME businesses to:
understand the opportunities created by Immigration SA’s business migration program;
prepare and develop their trade or investment pitch;
ensure trade and/or investment proposals are migration compliant;
understand how to close and document deals;
identify opportunities to connect with business migrants.
Sean Keenihan, President, ACBC (SA)
Phillip Grifoni, Business Migration Development Manager, ImmigrationSA
Kane Robson, Executive, NW Alliance