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News & Knowledge

Business skills migration to Australia

2nd October 2017
Pauline Rottstock

Let’s face it, Australia is a great place to live. This fact does not go unnoticed by many overseas visitors. MSI's Perth accounting member McKinley Plowman is regularly approached by individuals and families who have been or continue to be involved in a long established business in an overseas jurisdiction who are keen to migrate to Australia.

Indeed, given that over 30% of the Australian population were not born in Australia and the large increase in migrants from the Asia Pacific region in recent years this is a statement based on hard evidence and many migrants have gone on to achieve their dreams in Australia.

For some, the means of being able to migrate may necessitate the acquisition of a business. For others it may involve some form of sponsorship, investment into nominated Australian based assets or other avenues. For this article we’ll focus on business skills migration.

We’ve generally found that once bitten by the bug of business ownership it is a difficult habit to shake and it’s important to start off on the right foot.

Our clients inform us the key to their success in this area is to have the right support team around you. This includes accountants, lawyers and migration agents with a knowledge and reach into both the Australian market and the jurisdiction from where individuals may be migrating from. The key considerations include :

  • Understanding the visa options, eligibility criteria and timescales
  • Understanding the differences in the Australian economy, culture, legal and tax systems
  • Undertaking appropriate due diligence when acquiring a business
  • Knowing the best structure in which to acquire the business
  • Having a solid strategy by which you will then develop the business to achieve your goals

In Australia and New Zealand, the MSI membership comprises eight legal and eight accounting firms located in the key business centres of Adelaide, Auckland, Brisbane, Christchurch, Melbourne, Newcastle, Perth, Sydney and North Sydney.

Should you require assistance in Australia and New Zealand and to find out more about our law and accounting member firms in the region, please visit the MSI AusNZ website.

About McKinley Plowman - Perth

McKinley Plowman is one of WA’s largest and most successful privately owned, independent accounting firms. We have a dedicated team of accountants, wealth experts, superannuation and audit advisors, property specialists, pension transfer consultants, finance brokers, entrepreneurs, and most recently, our own internal advertising and branding agency.

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