Australia welcomes entrepreneurial people to come to this country. The arrival of these people with capital will make Australia’s economy more prosperous, which is very pleasant for the government of this country. On the other hand, Australia has achieved a good ranking in the world economically and professionally, which is very important for businessmen, investors and entrepreneurs. Because business brings more profit in a country with acceptable economic conditions. People who have not succeeded in immigrating through work and skill visas should pay more attention to Australian business visas.
What are the types of Australian business visa?
Australian business visa is divided into two parts: entrepreneurship and investment. To invest, you need to invest an amount of about 2.5 million dollars for 5 years in Australia. After that, you can take the necessary steps to get a visa.
There are two ways to get an entrepreneur visa. The first way is to own a thriving business and be able to set up that business in Australia. In the second way, you need to buy a business in Australia for at least $200,000.
By receiving the 188 Australia entrepreneurship visa, you get temporary residence in this country for 5 years. After two years of starting your business in Australia and meeting the necessary conditions, you can apply for the 888 visa and receive permanent Australian residency.
What are the conditions for obtaining an Australian entrepreneurship visa?
The main condition for receiving the 188 Australian Entrepreneurship Visa is the embassy’s confirmation of the profitability of your business. You must prove the ability to manage your business and make it profitable. In this context, your job history and account turnover are important.
In general, you must have a capital of at least $200,000, which you bring to Australia either through business transfer or buying a business. If the business you buy in Australia has a dollar value less than this amount. You can make up for this shortfall by bringing goods or cash into your business.
If you intend to transfer your business to Australia, it must have been 2 years since it started and you have earned an acceptable profit during this time.
Keep in mind that in this type of visa, your language score is less important than other visas, but English definitely plays an important role in the success of your business.
To apply for an Australian business visa, apart from the $200,000 capital required to buy a business, you must also pay for the visa application fee and the immigration lawyer separately.
How do I buy a business in Australia?
To start your business in Australia, you can establish the business you had in your country from the beginning in Australia. Another way is to buy a ready-made business in Australia or start a franchise or branches of a large business.
Buying a ready-made business is usually more popular. To find ready-made businesses, you can start by searching related sites such as https://www.anybusiness.com.au and https://www.seekbusiness.com.au.
Key points in buying a business
Before buying, you should keep some basic points in mind so that you don’t lose money. Be sure to ask the agent or seller the reason for selling the desired business. If the reason for the sale was due to problems with the property, license, etc., it is better to cancel the purchase. If the seller’s business had good profitability and the reason for selling was personal problems or starting a business in another branch, this option is suitable for your purchase.
You should note that the desired business has a profit of 300,000 dollars per year so that you can provide the conditions for obtaining an Australian business visa through its purchase. If the initial value of this business is less than 200,000 dollars, you should enter your business to compensate for this lack of equipment or cash.
In general, in the first step, you should consult a lawyer in the same area to make sure that the relevant business is profitable. The lawyer in question should check all the terms of the business. Financial and legal documents, licenses and commitments, documents related to the equipment in the business, etc. must be visited and verified by a lawyer.
After confirming this, you send the request letter along with the necessary documents to the seller’s lawyer.
If you agree to buy, you prepare the transfer agreement under the supervision of a lawyer. In this contract, the seller must undertake that if you prove that the seller’s words about the business are untrue, the contract will be void and your cost will be returned. Necessary agreements regarding the amount and method of payment are also clearly mentioned.
At the end, after signing the contract, you pay the advance payment and settle the full amount with the seller before handing over the business.
An important point in buying a ready-made business is that the business seller should not be considered as a competitor for the business purchased by you. It is better to prepare a non-competition agreement under the supervision of a lawyer and sign both parties to avoid this problem.
What is the best business in Australia?
In answer to this question, you cannot name a business. Because the success of a business depends on various factors, and most of all, it depends on your intelligence and ability.
You can work in two fields: sales and service. Food retail, restaurant management, coffee shop, gas station, home cleaning service company, car wash, etc. can be examples of a successful business.
In general, businesses can be divided into several categories. The construction category is one of the most interesting businesses. Among the jobs in this category, we can mention construction service companies for residential or commercial units, building painting, tiling, business related to the equipment of a building such as air conditioning, etc.
Categories of businesses
The retail category, which includes many small businesses. such as supermarkets, bakeries, bookstores, pharmacies, etc.
The category of health and social services, such as businesses related to the care of the elderly, physiotherapy, etc.
Accommodation and food related services where restaurants, hotels, coffee shops, etc. are located.
Scientific and technical services such as accounting, legal services, photography, etc.
Services related to repairs, such as repairing household appliances, mechanical, etc.
In general, buying a car wash, gas station, restaurant and medical clinic are among the businesses that immigrants to Australia are interested in.
Buying a franchise or creating a branch of a large store also has many fans. In this purchase, a large store and brand owner gives you the right to use its brand and accepts you as one of its official representatives. This process is very expensive, and its costs can be found in finding a suitable place, the cost of decoration, hiring employees, etc. In addition to these costs, one should pay attention to the high profitability of the franchise and its high probability of success.
Restaurants, coffee shops, and transportation offices are suitable options for getting a franchise agency.
What are the advantages and disadvantages of buying a ready-made business in Australia?
In general, buying a business carries many risks. But along with these risks, its significant benefits cannot be ignored. We will mention some of them below:
Disadvantages of buying a business in Australia
- The possibility of fraud and overselling by the seller.
- Getting involved with employee problems at the beginning of the job.
- Getting involved in financial and debt issues without prior familiarity with the process.
- Usually, the cost of buying a business is higher than starting it.
- Getting involved with the cost of taxes and employee salaries at the very beginning.
- Fulfilling all the relatively difficult requirements of the Immigration Department regarding the purchase of a business.
Advantages of buying a business in Australia
- Your business has already earned its credibility in the market.
- You don’t need to start from scratch to establish a business.
- The steps related to trademark registration were completed.
- Earning from the very beginning.
- Low probability of bankruptcy compared to starting a new business.
- The probability of receiving residence increases.
Obtaining a business visa, especially in the field of buying a ready-made business in Australia, has many complications. In this process, there is also the possibility of financial fraud and overselling, and to avoid it, it is better to consult an expert.
By completing the form below, Oceania Visa & Migration Services can be your advisor and companion.