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Business migration is considered to be the most attractive and feasible route for people having capacity and resources. But with the times the stipulations of business immigration (in terms of financial capabilities) have been inflated manifolds by most of prosperous economies. This has seriously hampered movement of proven business owners to these countries owing to their inability to fulfill minimum financial specifications. In all the gloomy scenario when Australian government commissioned new immigration policy business community immediately fell for this offer and the response has been prolific as till now over 100 people have been advised to file for residential permit. This has established the favorable approachability factor and Good Scope OF Australia SkillSelect Visa Subclass 188. Usually the governments across the planet have held a view that people entering a country on basis of business must actually be from affluent and super rich section of society. But the Aussie government has appreciated importance and relevance of business migration in broader perspective and has formulated an ambitious business immigration policy that actually hits bull’s eye. The objective of the policy has been to attract people with varying business experience and financial credentials. To target people with not so rich back ground (but having a good and proven business management experience) business innovation and investment program has been instituted into the business migration statutes. Australia SkillSelect Visa Subclass 188 is a multi segment provision that has enabled Australian government to grant entry to business aspirant people as • Business owners with intent of setting up a new business entity or acquiring an existing commercial business unit through stock and management take over and manage the affairs of the business on day to day basis • Investing individuals, with intent of parking funds in the designated and specified investment venues Scope Of SkillSelect Subclass 188 was expanded in Nov 2012 by inclusion of a new segment in the business innovation and investment scheme i.e. affluent investing individual segment that stipulates an infusion of funds in tune of atleast AUD 5million into the qualifying and listed securities and other authorized investment programs and schemes. To make this scheme attractive for investing enthusiasts several waivers have been extended. Most prominent of these waivers is scaling down of minimum residential period specifications per year i.e. you need to be present in country for a minimum period of 40 days per year. This classification is temporary arrangement and enables Related Articles -
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