The new Australian Entrepreneur visa is now open for applications. This new visa has been established for entrepreneurs with innovative ideas and financial backing from a third party and was launched on 10 September 2016.
This new visa allows entrepreneurs with $200,000 in funding from a specified third party to develop and commercialise their innovative ideas in Australia.
This visa provides a pathway to permanent residency in Australia.
To be eligible to apply for the Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur Stream, you must fulfill the following criteria:
- be under 55 years of age, although a state or territory can waive this requirement if your proposed complying entrepreneur activity will be of exceptional economic benefit to the nominating state or territory
- have competent English
- be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity
- be nominated by a state or territory government
A complying entrepreneur activity 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.