Do you own a quite successful business in Hong Kong? Do you believe that the market you currently have could be expanded? If yes, then you have several options. You can try expanding your business either to neighboring countries or you can even go to a completely new continent. Australia has proven again and again to be a lucrative market for ex-pats coming from Hong Kong. Nowadays, it is even easier to get a working visa for Hong Kong passport holders because of the new Australian government announcements. For this reason, here is how you can expand your business from Hong Kong to Australia. Do not forget to hire movers Hong Kong to help you with this business move.
Opportunities to expand your business from Hong Kong to Australia
If you haven’t checked the news recently, in July 2020, the Australian government has made new regulations for visa arrangements of Hong Kong citizens. This is meant for all the highly talented individuals or people who are looking to expand their business to Australia. First of all, Hong Kong students who want to pursue their studies in Australia are eligible to apply for a five years temporary graduate visa in Australia upon completion of their studies. Of course, there are some additional criteria that need to be met in order to have this visa.
On the other hand, skilled Hong Kong professionals can be sponsored by an employer for a temporary skilled visa. Those who already study, work, and live in Australia will be eligible for permanent residency after three years. Since you are moving to Australia from Hong Kong, make sure to check the new visa requirements.
Attracting new international companies to Australia
Last year, in September 2020 the Australian government also announced Global Business and Talent Attraction Taskforce to bring new international businesses and talent to Australia. Australia is very interested in international companies. Therefore, this new Taskforce should focus on emerging industries in Australia.
Additionally, it also has a goal of advancing manufacturing, technology, financial services, and health. Why is this important for you? Since you are planning to expand your business to Australia, you need to have a pathway for a working visa or permanent residency. Due to the high inflow of international businesses in Australia, sometimes, it can be quite challenging or difficult to get work permits. If you go through this new task force, you will have an easier time accessing stream light pathways for visas. Before you hire an international moving company Hong Kong, you need to take care of work permits.
Expand your business from Hong Kong to Australia with existing pathways
As mentioned before, all non-Australian passport holders need to have a valid visa in order to enter and work in Australia. It is extremely important to get a suitable visa before you move to Australia. If you fail to do this, you will have to pay penalties. However, not all penalties are monetary as you are also in danger of deportation. For a visa, you need to provide a market salary for the position, advertise it, meet certain skills and qualifications requirements, as well as have English language proficiency. If you are interested in moving to Australia as a worker, here are a couple of programs that you should consider.
- The Global Talent Employer-Sponsored program – for highly skilled people to help Australia’s developing start-up economy
- Labor Agreements – for Australian businesses to find skilled employees
- Designated Area Migration Agreements (DAMAs) – also for skilled and semi-skilled international workers
Pathways for individuals
Above mentioned programs are for Australian businesses looking for employees. It is not a bad idea to send someone or even go by yourself through this program to make a market analysis. As you might know, if you want to expand your business anywhere, you need to see if there is space for your product on the said market. On the other hand, Australia’s skilled migration program has three main categories.
- Independent skilled visas – for overseas workers that have skills that Australia currently needs. However, this program is very competitive and it requires an invitation.
- Employer-sponsored visas – as the name suggests, an employer from Australia will sponsor visas for their overseas worker.
- Business Innovation and investment visas – this one would be most beneficial for you since it is available to successful business owners who are interested in investing or doing business in Australia.
Expand your business when you are ready
How to know when it is the right time to expand your business? You should look for the following signs. First of all, you notice that recently there has been an increased interest from Australian market for your company or a product. Then, you need to do a market analysis. This is an important step you cannot skip if you wish to minimize the chances of failure. In addition to this, if you have money enough money in your bank account, it is time to expand your business. It is important to think that Australia is a good market for your products. As mentioned before, it is important first to see if your product will succeed in Australia. You will also have to look for a suitable office space and new employees. Make sure to have all the necessary permits to operate your business in Australia.
Should you do it?
Now the only question remains, should you expand your business from Hong Kong to Australia or not? If you see that your business can be successful in Australia, then it is time. Financial stability is also key when expanding your company. The main important thing to do would be to take care of all of the bureaucracy and documents before your relocation. Make sure to contact the immigration office in Hong Kong to see if you are eligible for any type of visa.