The entrepreneur stream is designed for those who want to do business in Australia, are early-stage contractors with entrepreneurial ideas, and are nominated by a State or Territory government agency. Thanks to these visas, those who are eligible can stay in the country for up to 5 years.
When you have an entrepreneur visa, you can take part in entrepreneurial activities, bring your family to the country, and apply for a Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream (if you meet the conditions).
To qualify for a permanent visa (subclass 888), you need to be in Australia for at least 2 years and be sponsored by the State or Territory government.
You can apply for an entrepreneur visa inside or outside Australia. It is possible to obtain it online via Skill Select system. Remember that you should have a substantive visa or a bridging A, B, or C visa if you are in the country.
In order to do business operations in Australia and get the entrepreneur visa, you must have a nomination from a State or Territory government agency, a successful record of undertaking entrepreneurial activities, good English, fill in the visa application form, and present a business plan.
Is it easy to get an entrepreneur visa in Australia?
If you want to get an entrepreneur visa, you must meet certain conditions, such as showing a business plan. Generally, you need to have competent English, undertake entrepreneurial activities, and be nominated by a State or Territory government agency.
If you are eligible, it is quite easy to get this visa.
Entrepreneur Subclass 188 Visas
The Entrepreneur Subclass 188 Visa is a temporary residency visa designed for entrepreneurs and innovators who want to start a business in Australia.
This visa allows its holders to gain access to the country’s skilled workforce, capital markets, and technology infrastructure, as well as provide support for their business ventures.
To be eligible for this visa, generally, applicants must meet the following requirements:
-be nominated by an Australian State or Territory government agency
-have a genuine commitment to establishing a new venture or developing an existing business in Australia
-show competent English language skills
-have a business plan.
Acceptable Business Activities
When it comes to the venture, it needs to be related to the commercialization of a product or service in Australia or the development of a business or enterprise in the country.
Some activities are excluded from the list. So you can’t:
-buy existing business or franchise
-be involved in real estate activities
-take part in labor hire activities.
You are required to have at least $200,000 in order to apply for a business innovation visa. To apply for an entrepreneur visa, you must have a funding agreement for at least $200,000 from one or more of the following sources:
-research organizations (publicly funded)
-State and Territory governments
-investors registered as Early Stage Venture Capital Limited Partnerships or Venture Capital Limited Partnerships.
It is worth knowing that funding agreements within 12 months need to involve at least 10% of the funds for commencing the activity in the country.
Other 188 Visa eligibility streams
There are five 188 visa streams:
Business Innovation Stream
It is a temporary visa designed for those who have business skills. Thanks to it, you can operate a new business or an existing enterprise in Australia. It allows you to stay in the country for up to 5 years.
Besides, you can bring your family with you (if members are eligible) and apply for a permanent business visa, as well as residency.
However, you must score 65 points or more on the test, have proof of business success and have a certain net business and personal assets (with a partner).
It is a temporary visa that allows one to stay in Australia for up to 5 years. If you want to apply for it, firstly, you need to invest at least AUD 2.5 million in Australian investments, be nominated by a State or Territory government agency, score at least 65 points on the test, and meet other requirements.
Significant Investor Stream
A significant investor visa is a temporary document that is designed for people who invest at least AUD 5 million in Australian investments. The other requirements are as follows:
-you need to be invited to apply for this investment visa
-you must be nominated by a State or Territory government agency or Austrade
-your intentions must be genuine.
Premium Investor Stream
Premium investor visas are for businessmen who invest at least AUD 15 million in Australian investments or philanthropic contributions and are nominated by Austrade. It is possible to stay in the country for 4 years and 3 months with this visa.
Also, to obtain it, you must have a genuine intention to hold the investment for the period of the visa (except philanthropic one).
This visa is designed for startup and early-stage businessmen who would like to develop their ideas in Australia. They need to be nominated by a State or Territory government agency, have a plan, undertake business activities in the country, and speak English.
Permanent Residency with Entrepreneur Visa
It is possible to obtain a permanent residency in Australia with an entrepreneur visa after 4 years. You must prove that you meet a measure of success which includes business turnover, the ability to get significant finances, and creating employment for Australians.