188 Entrepreneur stream (E)

Purpose

This provisional visa lets you carry out entrepreneurial activities in Australia.

 

Stay

Up to 4 years and 3 months.

With this visa, you can…..

  • Carry out entrepreneurial activity in Australia
  • Bring eligible members of your family with you
  • Apply for a permanent Business Innovation and Investment (Permanent) visa (Subclass 888) Entrepreneur stream

Main criteria

  • To be an eligible candidate, there is an age bar of 55 years, although a state or territory can waive off this requirement if your proposed business activity will be of an exceptional economic benefit to the nominating state or territory.
  • You must have competent English skills and be able to provide an evidence when you are invited to apply for the visa
  • You should be able to show that you have an ownership interest of at least 30% in the proposed complying entrepreneur activity you are willing to invest in. Most importantly, you should have a genuine intention to continue this activity.
  • You must complete the points test to be able to qualify for this stream; which is currently 65 points
  • Have a complying entrepreneur activity

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You must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia. You must have a genuine intention to continue this activity.

A complying entrepreneur activity must relate to an innovative idea that will lead to:

  • the commercialisation of a product or service in Australia, or
  • the development of an enterprise or business in Australia

This activity must not relate to any of the following categories:

  • residential real estate
  • labour hire
  • purchase of an existing enterprise or a franchise in Australia
  • Receive funding from an approved entity

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You must have one or more legally enforceable agreements to receive funding with a total of at least AUD200,000. The funding must be from one of the following entities:

  • Commonwealth Government agency
  • State or Territory government agency
  • Publicly funded research or innovation organisation
  • Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003
  • Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership

At least 10% of the funding must be payable to the entrepreneurial entity within 12 months of the activity starting in Australia. This must be in the agreement.

The entity that will conduct the activity (the entrepreneurial entity) must be either an individual (yourself), a company or a partnership.

You must have held at least 30% interest in your entrepreneurial entity when you entered into the agreement.

You must also have a business plan for the entrepreneurial entity. This business plan should note how your innovative idea will lead to:

  • the commercialisation of a product or service in Australia, or
  • the development of an enterprise or business in Australia

All of the funding provided or to be provided to the entrepreneurial entity under the agreement or agreements is unencumbered and lawfully acquired.

What business activities qualify?
If you are interested in applying for this visa, you will need to show how your proposed enterprise will real economic benefits for the country.

Your entrepreneur activity should be an innovative and unique idea that will bring a new service or product to the market, or lead to economic development in Australia; excluding any activities related to real estate or labour hire.

Nomination:

Before you qualify to apply for the 188E, you will need to be nominated by the government of an Australian State or Territory, which involves lodging an expression of interest (eoi) through the skillselect system.

The next step towards your Permanent Residency is the Subclass 888. Click here to learn about this visa