Only applicants who have been nominated by an Australian State or Territory government are eligible for this VISA. The applicant must submit an Expression of Interest (EOI) using the SkillSelect system in order to be considered for nomination.
Entrepreneurs with unique ideas and financial backing from a third party can apply for this four-year temporary visa. After spending two years in Australia and being sponsored by a state or territory government, the Business Innovation & Investment (Residence) Subclass 888 visa allows you to apply for permanent residency.
To apply for this visa, the applicants can be in Australia or abroad.
If the applicant is in Australia:
- Must hold a Substantive Visa or a Bridging A, B, or C visa.
188E Entrepreneur Stream
|Acceptable Business Activities:||The planned endeavor would have to be one of the following:
Certain activities will be excluded if they are deemed insufficiently creative. This is defined by a legislative document and includes the following items:
|Eligible funding||An agreement for at least $200,000 in investment from one or more of the following sources is required to apply for the Entrepreneur Visa:
Within 12 months of starting the activity in Australia, the funding arrangement must include the transfer of at least 10% of the money.
Other 188 Visa Streams of Eligibility:
A. Entrepreneurial Innovation – For business owners interested in establishing operations in Australia
B. Businessman – For those willing to put up $1.5 million in Australian State or Territory bonds
C. Significant Investor – A significant investor is someone who invests a significant amount of money in a company. For those prepared to invest $5 million in Australia’s complying investments
D. Premium Investor – For persons who have a lot of money and are willing to put at least $15 million into premium Australian ventures.
E. Entrepreneurship – For those who have received a financial arrangement for at least AUD200 000 from a third party to engage in a complying entrepreneur activity
It’s important to remember that business migration is complicated, and evaluating whether or not you’ll qualify can be challenging. Additionally, you may be eligible for a variety of company migration categories.