How to apply for an Entrepreneur visa

Australia’s Entrepreneur visa came into effect on the 10^th September 2016 and is aimed at entrepreneur’s in the Business Innovation and Investment visa stream to help the growth of the Australian economy.

The Business Innovation and Investment (Provisional) visa (subclass 188) includes 5 streams.

• Business Innovation stream: For establishing, developing or managing new or existing businesses in Australia.  You MUST be nominated by a state or territory government.

• Investor stream: Designed for people making investment of at least $1.5million AUD and maintain investment activity in Australia. You MUST be nominated by a state or territory government.

• Significant Investor stream: Designed for people making significant investment of at least $5million AUD and maintain investment activity in Australia. You can be nominated by a state or territory government or Austrade on behalf of the Australian government.

• Premium Investor stream: Designed for people making a significant large premium investment of at least $15million AUD and maintain investment activity in Australia. You MUST be nominated by Austrade on behalf of the Australian government.

• Entrepreneur stream: If you have a funding agreement from a third party for at least $200,000 AUD that is proposed to lead a product or service in Australia or the development of a business in Australia. You MUST be nominated by a state or territory government.

How to apply for the Entrepreneur Visa:

You will have to submit an EOI

To apply for the Entrepreneur visa you will need to lodge an Expression of Interest (EOI) with SkillSelect.

To lodge an EOI, you will need to have a funding agreement in place or in negotiation with an approved funding body to develop an innovative venture in Australia. The agreement must be for a minimum of $200,000 and a business plan will need to be included with your application explaining your venture in Australia.

If after 4 years you are able to demonstrate a successful track record of entrepreneurial activities while under the provisional Entrepreneur visa then you may be eligible for a Subclass 888 Business Innovation and Investment (Permanent) visa in the Entrepreneur stream.

State or territory government nomination

Once you have proceeded with your EOI submission, you can be nominated by a state or territory government to be invited to apply for an Entrepreneur visa. It is worth noting that each state has slightly different criteria so be sure you check in detail or ask one of our migration consultants.

If you happen to be nominated by a state or territory government then you will receive an invitation from the Department of Immigration and Border Protection to apply for the Business Innovation and Investment (Provisional) visa (Subclass 188).

You will need to provide all the required documents with regards to your identity, relationships, children and health.  It will also be a requirement that your English language ability is proficient as part of your application and the sufficient funding documentation is in place.  You will have 60 days to lodge your application once the invitation has been sent to you.

Should you need any further assistance then do not hesitate to contact one of our registered investment migration consultants today.

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