Modifications in Eligibility Criteria for Aussie Business Migration

The Australian government has brought about amends in the immigration program meant for the entrepreneurs. With the amends in place, the rules have become even stricter making it tough for the eligible candidates to get a visa.

As per the new law, all the entrepreneurs and senior executives are required to have a higher amount of net worth or assets to qualify under the business migration program. The main aim of the Australian Department of Immigration and Citizenship is to increase the contribution made by the immigrant businessmen to the economy of the nation. This would result in creating more jobs for the local people.

As per the authorities, these modifications are mandatory to be put into effect due to the increased cost of living in the nation. This would obviously mean an increased expenditure to set up a business in the nation.

The Australian Immigration program caters to the provisional offshore visa under the subclasses of 160, 161, 163 and 164. Thus, more money needs to be invested for the business venture. More so, it is also important that they own a significant amount of interest under their control. However, those applicants who have applied before 19th April are waived off from the new regulations.

All in all, it is yet to be seen how these changes fare with recent reports projecting the immigrants outnumbering the local Australians. Thus, these modifications could turn out to be a flop amongst those planning to immigrate.

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