In late 2016 The Australian government introduced the Entrepreneur Visa. It falls under the Subclass 188 Business and Investment visa.
In order to be eligible for this visa, you will need to have at least $200,000 in funding from a third party. This money will be used to establish the business or commercialise a product or service in Australia.
This visa is initially a temporary 4 year visa, however can provide a pathway to PR in Australia through Business Innovation and Investment Stream Subclass 888. In order to be eligible for the permanent visa, the visa holder must have spent at least 2 years in Aus on the Entrepreneur visa, have his business or services operational in Australia and be nominated by a state or territory government.
In order to be eligible for this visa, visa holders much first be nominated by a state or territory government.
- be under 55 years of age, although a state or territory can waive this requirement
- have competent English (IELTS 6 in each band or equivalent score)
- be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity
- nominated by a state or territory government
- Funding agreement in place for at least $200,000 to establish a venture in Australia
- Ownership interest of at least 30% in the venture
What can you invest in?
To be eligible for this visa you cannot just invest in any business. A Complying Entrepreneur Activity as defined by Department of Home Affairs is an activity that relates 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.
However visa holders cannot have an idea or business relating to the following:
- Residential real estate
- Labour hire
- Purchase of an existing enterprise or a franchise in Australia.
Who can provide the finance?:
Another factor in determining if you are eligible for this visa is that only certain entities can provide the finance for the business idea. These include:
- you have one or more legally enforceable agreements to receive funding with a total of at least AUD200 000 from one of the following entitites:
- Commonwealth Government agency
- State or Territory Government
- Publicly Funded Research Organisation
- Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
- Specified Higher Education Provider
- under the agreement at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia;
If you do not feel that you will qualify for the Entrepreneur visa, you may still be eligible to apply for another investment or business visa. There are numerous investment categories which could suit you.
If you would like more information on the 457 visa, feel free to contact Pathway to Aus on:
- P: +61 7 55 265 900
- E: [email protected]com
- A: Level 1/2 Davenport Street, Southport, QLD, 4215
- Or Comment or Enquire below