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188E Business Innovation and Investment (Provisional) visa – Entrepreneur stream


188e Entrepreneur stream 

This provisional visa lets you carry out entrepreneurial activities in Australia. Applicant must have: 

  • undertake, or propose to undertake, a complying entrepreneur activity in Australia 
  • have a funding agreement of at least AUD200,000 to carry out entrepreneurial activity in Australia 
  • show us a business plan for your entrepreneurial activity 
  • have at least competent English 

 

Eligibility  

  • Receive an invitation to apply: 

First, you must submit an Expression of Interest (EOI). If an Australian State or Territory government agency accepts your EOI and nominates you, we will invite you to apply for this visa. 

  • Be nominated: 

You must be nominated by an Australian State or Territory government agency before being invited to apply for this visa. 

The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa. 

  • Be under 55: 

You will not receive an invitation if you are aged 55 or older, at the time of the invitation to apply for the visa, unless the State or Territory government agency has determined your proposed entrepreneur activity will be of exceptional economic benefit.                                                                              

  • Have a complying entrepreneur activity: 

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 
  • labor hire 
  • purchase of an existing enterprise or a franchise in Australia 

 

  • Receive funding from an approved entity: 

You must have one or more legally enforceable agreements to receive funding with a total of at least AUD $200,000. 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. 

  • Not have a history of involvement in unacceptable activities: 

You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia. 

  • Have competent EnglishAll applicants aged 18 or over at the time of application must either have at least functional English or you will be asked to pay the second installment of the visa application charge 

 

  • Meet other requirements: 
    • Meet our health requirement 
    • Meet our character requirement 
    • Sign the Australian values statement 
    • Have no debt to the Australian Government 
    • Not have had a visa cancelled or a previous application refused 

 

Application Cost

This visa costs AUD4,045 for the primary applicant 

There is also a charge for each family member who applies for the visa with you: 

  • additional applicant over 18 years old: AUD2,025 
  • additional applicant under 18 years old: AUD1,010 

The second installment charges are: 

  • main applicant: AUD9,795 
  • family members: AUD4,890.  

 

Business Innovation and Investment (Permanent) visa (subclass 888) 

888Entrepreneur stream 

This visa lets you stay in Australia indefinitely. You can apply if you hold a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream. It lets you continue your entrepreneur activities in Australia. 

You must have: 

 

Eligibility 

  • Have this visa: 

You (the primary applicant) must be the holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream. 

You must have held your provisional visa for a continuous period of at least 4 years immediately before you apply. 

  • Be nominated: 

You must have a current nomination from a state or territory government agency. 

When you applied for your provisional visa, you gave us an Expression of Interest. A state or territory saw your Expression of Interest and nominated you. 

You do not need to provide a new Expression of Interest. But the state or territory needs to confirm that your nomination is still current. 

  • Have a successful record of entrepreneurial activities: 

We assess your (the primary applicant’s) entrepreneurial activities by looking at success factors. 

You will need to show either: 

  • 2 key success factors, or 
  • 1 key success factor and 3 supporting success factors 

Key success factors include: 

  • employing 2 or more Australians, permanent residents or other eligible persons 
  • generating an annual turnover of at least AUD300, 000 
  • filing a provisional patent or acquiring a standard or innovation patent 
  • receiving ongoing funding or investment in your entrepreneur activity 
  • entering into a partnership with a university 
  • selling an entrepreneurial venture for AUD2 million 

Supporting success factors include: 

  • adapting your entrepreneurial activities into other business areas 
  • receiving a statement of success from a state or territory government nominator 
  • receiving sponsorship from the corporate sector 
  • starting at least 1 other business or contributing to at least 2 other businesses 
  • receiving formal awards or recognition 
  • raising or contributing to social capital 

Entrepreneurial activities in Australia can’t be: 

  • residential real estate 
  • labour hire 
  • buying an existing enterprise or a franchise in Australia

 

  • Have followed Australian laws: 

When operating your business in Australia, you and your partner must have followed: 

  • Commonwealth laws 
  • the laws of the states or territories where your business operated 

This includes laws about taxation, superannuation, and workplace relations. 

  • Have Functional English: 

You might have to pay an extra charge for any dependent applicant 18 years old or older who has less than functional English. If they can’t show that they have at least functional English, they will need to pay the second instalment of the visa application charge when we ask you to. 

They will not need to pay a second instalment if they have already paid a second instalment of the visa application charge in relation to an application for a Subclass 188 (Business Innovation and Investment (Provisional)) visa. 

  • Meet the residence requirement: You must have lived in Australia for at least 2 of the 4 years immediately before you apply. 

 

  • Not have been involved in unacceptable business activities: You and your partner must not have been involved in any business or investment activities that are unacceptable in Australia.

 

  • Have a realistic commitment to continuing business activities: You must have a realistic commitment to continuing your business and investment activities in Australia. 

 

  • Meet other requirements: 
    • Meet our health requirement 
    • Meet our character requirement 
    • Sign the Australian values statement 
    • Have no debt to the Australian government 
    • Not have had a visa cancelled or a previous application refused 

 

Application Cost 

The visa costs AUD2,590 for the main applicant. 

The second instalment charge is AUD4,890. 

  • an extra charge for any applicant 18 years old or older who has less than functional English 

You might also have to pay other costs for health checks, police certificates and biometrics. 

To work out what your visa will cost use the Visa Pricing Estimator. The estimator does not take into account the second instalment or other costs. 

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