The Entrepreneur Visa is part of the Subclass 188 Business Innovation and Investment Visa stream. It’s a 4-year temporary visa for those with investor funding to set up a business or enterprise in Australia. If you’ve got brilliant business ideas and the drive and determination to put those ideas into practice, why not consider the Entrepreneur 188 Visa? It could be the perfect way to secure a bright and successful future in Australia. Let’s take a closer look...Entrepreneur Visa: conditions and criteria
This visa enables you to live in Australia and create a business or enterprise here. When you’ve established your venture, you can then apply for permanent residence via the Business Innovation and Investment (Residence) Subclass 888 Visa.
To be eligible for the permanent 888 Visa you must spend a minimum of 2 years in Australia on the Entrepreneur 188 Visa and be sponsored by a state or territory government.
All Entrepreneur 188 Visa applicants must:
- Be less than 55 years old, unless "exceptional economic benefit" to your sponsoring state or territory is demonstrated,
- Be nominated by a state or territory government,
- Have competent English language ability,
- Have funding of at least $200,000 AUD secured to set up an enterprise in Australia,
- Hold an ownership interest of at least 30% in the venture.
Where can I apply for the Entrepreneur Visa?
You can apply for this visa in Australia or overseas. To lodge your application in Australia, you must hold a substantive visa or a Bridging A, B or C visa.
Online applications must be lodged through the SkillSelect visa application system.
Do I have to be nominated by a state or territory government?
Yes, the Entrepreneur 188 Visa is only available to those who are nominated by an Australian state or territory government.
Which business ventures qualify for an Entrepreneur Visa?
Your intended business venture must involve:
- Commercialisation of a service or product in Australia, or;
- Growth of an enterprise or business in Australia.
Your enterprise must be innovative and pioneering. Activities considered ineligible for this visa include:
- Real estate activities,
- Labour hire activities,
- Procurement of an existing business or franchise.
Funding sources for this visa
You must have a minimum of $200,000 AUD funding in place from one of these sources:
- State and territory government,
- Commonwealth agency,
- Publicly funded research establishment,
- Investor registered as an Early Stage Venture Capital Limited Partnership or Venture Capital Limited Partnership,
- Specified Higher Education Provider.
Under the funding agreement, at least 10% of the funding must be payable to the entrepreneurial entity within 12 months of undertaking the activity in Australia.
Put your plans into action
Business migration is a highly complex visa category. FastVisa’s migration experts can help you to navigate the Subclass 188 Business Innovation and Investment Visa stream. The Entrepreneur visa differs from the other subclass 188 visa streams as there is no requirement to prove a long-established business background or disclose the value of your personal net assets. It gives bright, young entrepreneurial talent the ideal opportunity to start brand new business ventures in Australia.
We can assess your eligibility for the Entrepreneur 188 Visa, or any other suitable visa categories, and help you to lodge a meticulous application.
Get in touch with FastVisa today: