Australia is one of the countries that perfectly demonstrates that immigration promotion and economic openness are vital to make the country grow and have an innovative business environment. The Commonwealth of Australia is the biggest island and the sixth biggest country in the world. Since the 20th Century, this island has been one of the most cutting-edge countries on the planet in its economy and technology.

This country knows that it needs capacitated personnel to boost its economy and improve its nationals’ quality of life. With this in mind, these are some of the advantages of Australia’s economy:

-Australia's geographical position and its distance from other major economies of the world have allowed it to generate important commercial ties with countries throughout the region, broadening the spectrum of investment opportunities.

-This country is home to an open market with minimal trade restrictions, allowing companies to import goods and services from all over the world.

-Australia is home to five globally successful industries: food, education, tourism, financial services, and natural resources, which significantly opens up the menu of foreign investment options.

-Australia has excellent visa programs for investors who are willing and able to contribute to the country’s economic, technological and business advancement, based on its commitment to merit.

-Australia has a well-developed, reliable, and growing real estate market with plenty of enticing opportunities.

-Australia provides some of the most reputable financial licenses in the entire world that will allow you to do financial business all over the world.

This country is a Constitutional Monarchy, with Queen Elizabeth II as head of State. The legislative branch is composed of a House of Representatives and the Senate. The majority party forms the government, and its leader becomes the Prime Minister.

By the end of World War II, Australia recognized the dangers of such a big territory, for such a small population, so it began a massive program to attract European immigrants, intending to populate a large part of the territory, as well as expanding its economy.

The main gain of these migratory plans was the promotion of an enormous number of jobs and the avoidance of the economic debacle occurring throughout Europe and much of the world as a result of the war. And that wasn’t the last time that Australia knew how to recover from the crisis. Today, where most of the world is fighting the Covid-19, this country could steer a great plan for economic recovery, which makes Australia a great destiny for foreign investors in the post-Covid-19 world.

So, here in Mundo, we’ll introduce you to one of the freest economies in the world, and a country with pretty interesting options to analyze when the time of choosing your next investment target comes, presenting its attractive programs and the way you can access to each one of them:

-Global Talent Visa Program

-Global Talent Employer Sponsored Program

-Business Innovation and Investment Program

Australia’s Economy

Australia’s economy has been a stand-out economy for the last two decades, being one of the strongest in the whole world. It was the only advanced economy that did not experience a recession due to the global financial slowdown in 2008-2009. It is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic.

Besides all of this, Australia’s economic attractiveness extends to the freedom it holds for business. Its score is 82.4 on the 2021 Index of Economic Freedom, making its economy the 3rd freest globally, only after Singapore and New Zealand. Its overall score has increased by 1.7 points, led by improvements in government integrity and fiscal health scores. Australia is ranked 3rd among the 42 countries in the Asia–Pacific region, and its overall score is substantially higher than the regional and world averages. Without a doubt, this is something that foreign capital holders like to watch when they are looking for a country to invest in.

70% of the GDP is dominated by the service sector (education, tourism, and financial services), but its biggest exports come from the agriculture and mining sectors, with 60% of the total. A few years ago, Australia began to improve its manufacturing sector, given the account deficits produced by the high level of imports, with significant profits. As export prices increased faster than import prices, the economy experienced continuous growth, low unemployment, contained inflation, very low public debt, and a solid and stable financial system.

Since 2016-2017, Australia’s GDP has consistently grown, with a 2.1% and a 2.9% in 2017-2018. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high foreign investment levels and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources to create new businesses and attract. Its main business partners include Japan, the U.S., China, South Korea, and New Zealand.

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Golden Visa and Skill Visas

To introduce themselves as a land of opportunities for business and investment, Australia has developed an interesting list of programs and visas aiming at those interested in investing in the country. This country has a business portfolio and industries to invest in. This makes the smallest continent in the world the main target for a lot of big companies and economies around the planet.

Due to the circumstances caused by the Covid-19 crisis, Australia is currently not issuing "Expressions of Interest" or EOI for business or work visas. However, you should be aware of the options to which you will be able to aspire as an investor once the execution of these procedures resumes.

This program is formed by 4 types of visas, with different requirements and coverage, but in general, destined to boost the entry of foreign capital and the improvement and innovation of the different fields and industries.

-Business Innovation Visa 188A: This visa is thought for business owners who have an overall successful business career and are seeking to establish business operations in Australia.

Within its requirements, the applicant must have net and personal assets of at least A$ 800.000; be under 55 years old with some exceptions; and approve the Business Innovation and Investment Points Test

-The Investor Stream 188B: For people who are willing to invest $1.5 million in an Australian State or Territory bond. This is a 4-year temporary visa. Once the applicant has maintained an investment in Australia for that long, they may apply for permanent residence. 

The applicant must have had business and personal net assets of at least A$ 2.25 million for the last two fiscal years within its application. They must take an investment of A$ 1.5 million in Australian bonds before and have at least three years of experience managing a qualifying business.

-Significant Investor Visa 188C: This is a 4-year temporary visa, for people willing to invest A$5 million into complying investments in Australia. This one has some essential elements regarding its requirements. This visa is only available to applicants who are nominated by an Australian State or Territory government. The applicant must lodge an Interest (EOI) expression through the Select Skill system to be nominated.

-Premium Investor Visa 188D: This is a 4-year temporary visa, for talented entrepreneurs and innovators willing to invest at least A$15 million into selected investments in Australia. This visa is available to applicants who Austrade nominates. The applicants can either be in Australia or overseas to lodge this visa.

This visa doesn’t require any residence and also works as a fast-track 12 months pathway to permanent residency.

Besides the Business Innovation and Investment Program, Australia has also promoted the creation of Employment Programs, which fosters foreign talent recruiting, looking for professionals who could make an improvement in existing businesses and companies and in professions of interest.

The program’s main visa is the Temporary Skill Shortage Visa, which may be a short-term or a medium-term one. It enables employers to address labor shortages by hiring skilled workers when they can’t find an appropriately skilled Australian one.

This visa doesn’t require a certain age to apply. For its eligibility, the applicant must check if their occupation is on the Consolidated Skilled Occupation Lists; meet each one of the requirements (different for a short-term or a medium-term visa); find an employer willing to sponsor the applicant for a job position in Australia; get an employer nomination, and apply for the TSS Visa.

What Can We Do for You?

Australia is land for opportunities. The present situation in the world with the Covid-19 outbreak, and the way this country has faced it, being one of the first in reactivating its economy, gives signs of stability, trust, and well-executed plans. Besides, it’s full of opportunities for skilled overseas workers who can take with them innovation and several profits for Australian business and economy.

At Mundo, we are attentive to the evolution of the global business situation in order to provide you with the best information and guidance when making your next investment.

Our experts will be more than ready to support you with the following services:

-Migration

-Advisory Services

-Investment Opportunities

-Corporate Services

-Business & Startup Coaching

-PPE Products

Get in contact with us and set the right time to start your new business in Australia.

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