Sydney and New South Wales. Your future starts here. NSW Business - PowerPoint PPT Presentation

Sydney and New South Wales. Your future starts here. NSW Business & Investor Migration Dominica Nelson Suzanne Gillham Director Senior Manager NSW Department of Industry NSW Department of Industry

Agenda  Welcome  About us  Opportunities in New South Wales – Economy – Education – Chinese community – Lifestyle – Regional New South Wales  Business & Investor Migration Pathways – Visa pathways – How to apply  Questions Page 2

New South Wales (NSW): Open for business NSW Welcomes Business & Investor Migrants  NSW Business & Investor Migration Program: – Benefits NSW economy – Recent improvements: • Revised visa nomination criteria • Streamlined and simplified application process • Faster processing times • Introduced relationship management approach – Our customers are our priority Page 3

Our priorities Attract Facilitate Lead Streamline Page 4

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Strong economy 24 Page 6

Strong economy  NSW economy is robust and secure: – the largest, most diverse state economy (NSW economy produces A$492 billion in goods and services) – larger than Thailand, Malaysia, Singapore and Hong Kong SAR  NSW is a major global and Asia-Pacific business hub  Sydney is Australia’s only global city  Stable and business-friendly environment  Unique business and investment opportunities in Sydney and Regional NSW Page 7

Vibrant investment environment  There has never been a better time to invest in NSW – NSW Government committed to a A$68.6 billion infrastructure program, 2018-2019 – 64% of Australia's tech start-up companies are based in NSW – 53% of the working-age population has a tertiary qualification – 52 international banks with operations in Australia choose Sydney as their local headquarters – NSW produces A$7.3 billion in annual agriculture & food exports Page 8

Barangaroo Reserve, Sydney Page 9

NSW values our China relationship Page 10

World class education  Sydney and NSW offers international students a world-class education, and opportunities to gain valuable work experience  Top universities with world Top 100 rankings  More than 57,000 Chinese students study in NSW every year  The NSW Government values international students  NSW Government established StudyNSW to support international students in NSW Page 11

University of Sydney Page 12

Thriving Chinese community  NSW is home to a vibrant Chinese community - around 50% of Chinese people living in Australia call NSW home  Sydney is home to the largest Chinese population in Australia  Chinese is the largest non-English language spoken in Sydney  Sydney has the biggest Chinese New Year festival outside of China  We are connected by easy travel and communication: – more than 41 direct flights from China to Sydney a week – similar time zone Page 13

Chinese New Year Celebrations, Sydney Page 14

Vibrant lifestyle  NSW lifestyle is similar to that of United Kingdom, Western Europe and North America  Sydney offers a secure environment for families with excellent healthcare, education and telecommunications Sydney’s cultural diversity has produced a society that is  creative, open and friendly  Warm climate, clean air and fresh food Page 15

Sydney Harbour Page 16

Regional NSW  NSW Government is committed to build and grow Regional NSW (non capital city)  Rich in natural resources with strong agriculture and mining sectors  Dynamic range of industries: manufacturing, energy, tourism and service sectors  Our regions offer many lifestyle advantages including a relaxed way of life and friendly communities  We encourage business & investor migrants to consider Regional NSW  Flexible nomination requirements for applicants who will set up their business and move to our regions Page 17

Hunter Valley, Regional New South Wales Page 18

NSW Business & Investor Migration program NSW welcomes Business, Investor & Entrepreneur migrants  NSW Business & Investor Migration Services team’s focus – Attract high quality business and investor migrants to NSW – Provide easy & straightforward state nomination process – Provide excellent customer service – Establish and grow long-term relationships with nominees – Provide business and investor migrants with access to information and networks to facilitate success in NSW  Our Relationship Officers will support you through your migration journey Page 19

NSW Migration Pathways  Operate under the visa structure of the Australian Government (Department of Immigration and Border Protection)  Three categories: Visa Program Visa streams Residence type • Business Innovation and Business Innovation Provisional with pathway • Investment visa (188/888) Investor to permanent • Significant Investor • Business Talent visa (132) Significant Business History Permanent • Venture Capital Entrepreneur Investor Retirement visa Temporary (405) Page 20

Business Innovation & Investment Visa (188A)  Visa purpose : For established business people to own & run a business in NSW  NSW criteria: – Successful business background – Sufficient net business and personal assets – Sufficient turnover in a main business(es) – Intend to establish or participate in a qualifying business in NSW – Meet DIBP requirements (age, points test, other)  Recent NSW improvements: – All business sectors are now eligible – Removed requirement for Business Plan at nomination stage – Expanded range of acceptable documents Page 21

Business Innovation & Investment Visa (188B)  Visa purpose: for established business people/investors to invest in NSW  NSW criteria: – Demonstrated business or investment background – Invest A$1.5 million in NSW Treasury Corporation Bonds for 4 yrs – Have sufficient net assets – Meet DIBP requirements (age, points test, other)  Recent NSW improvements: – Expanded range of acceptable documents – Faster processing times  Visa pathway: permanent residence possible after four years Page 22

Significant Investor Visa (SIV)  Priority migration program for NSW Government  Most flexible SIV nomination policy in Australia  NSW criteria: – Meet DIBP requirements – no additional requirements • Demonstrate at least A$5 million in assets • Commit to investing at least A$5 million in complying investments – Provide details of SIV investment  NSW SIV commitment: – Straightforward process - 24 hour nominations – Excellent customer service - dedicated Relationship Officer – Establish and grow long-term relationship with SIV nominees – Encourage further investment and business in NSW  Visa pathway: permanent residence possible after four years Page 23

Business Talent Visa (subclass 132)  Priority migration program for NSW Government  Visa purpose: for high-calibre businesspeople or entrepreneurs with an established business plan  NSW criteria: Significant Business History Stream – Successful business background and sufficient funds – Own and participate in a business in NSW – Job creation and business investment requirements – Meet DIBP requirements (age, other) Venture Capital Entrepreneur Stream – VC funding of at least A$1m for eligible business – Sufficient net assets – Meet DIBP requirements (age, other) Page 24

Business Talent Visa (subclass 132)  Recent NSW improvements: – All business sectors are now eligible – Priority processing • 24 hour allocation of application • 5 working day initial assessment • Maximum 8 week processing time (for complete applications) – Expanded range of acceptable documents – NSW Relationship Officer assigned to every NSW nominee  Visa pathway: Permanent visa Page 25

Investor Retirement Visa (405)  Visa purpose: for people over 55 to live in NSW for up to 4 years/ visa  NSW criteria: – Meet DIBP requirements – no additional requirements including : • Over 55 years • Have sufficient net assets • Access to sufficient net income • Make Designated Investment in NSW Treasury Corporation bonds (Sydney A$750K, Regional NSW: $A500K)  Recent NSW improvements: – Removed requirement to set up a business (removed 2013) – Faster processing times  Visa pathway: Temporary visa only Page 26

How to apply NSW has one of the most simple and fast application process. Expression of Interest Application for NSW Visa - SkillSelect nomination Application • • Complete application If nominated by NSW, • Research eligibility form apply for visa with requirements DIBP • Provide supporting • Submit Expression of • documents (refer DIBP advises of visa Interest (EOI) in checklist on outcome SkillSelect - the application form) Department of • If successful, move to Immigration and • Submit application to NSW Border Protection NSW Migration (DIBP) system • Services team Advise us of your new contact details Page 27

Sydney Harbour Page 28