stumpysean

What is classed as being exceptional economic benefit? My Mum is looking to go out with us on our families business visa as an owner but she will be 55 when she applies. It says people can be over 55 but prove that their business will be of 'exceptional economic benefit' to the state.

We are new to all this so any help will be appreciated.

Jamie Smith

It depends on the State. It's usually related to new jobs or more investment, and the higher the higher the expectations. Sliding scale, sort of.

I had heard of SA approving 63 year old on basis of seven figure investment and maybe 6 new jobs - but bear in mind that info is now about a year old and comes from former SA Govt person who can no longer say Yes or No.

Suggest you work out a skeleton biz plan in terms of likely investment budget and and ask them. They will advise of you need to up the ante.

stumpysean

Yeah this is a bit of a difficult one....
If it doesn't look like she'll beable to make it on that visa she may have to think about either the contributory parent or the retirement visa (which I understand is due to change shortly????)

Any info about the likely changes of this would be helpful... I know that they are changing the number of hours allowed to work and the rollover years from 2 to 4 but am more interested in what the assets figure is to be; whether it will still remain the same or not ........

Thanks for any info in advance....

Jamie Smith

I can't help you there, I do business plans and am not licensed as migration agent.

If she is close to age it's worth asking what State would look for as concession.