Visa 188E - Entrepreneur stream

This visa is for people who have a funding arrangement from a third party for at least $AUD 200 000 to undertake entrepreneur activities that leads to the commercialisation of a product or service in Australia and the development of a business in Australia. Applicants must be nominated by a state or territory government.

Length of stay: 4 years and 3 months

1. Eligibility:

You might be able to get this visa if:

-         You are nominated by an eligible government organisation

-         You are invited to apply

-         You (and all members of your family unit ) satisfy certain health and character requirements

You must:

-         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 and be able to provide evidence of this at the time you are invited to apply for the visa

-         Be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity.

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.

This activity must not relate to any of the following excluded categories:

-         Residential real estate

-         Labour hire

-         Purchase of an existing enterprise or a franchise in Australia.

An activity is a complying entrepreneur activity if all of the following requirements are met:

-         You have one or more legally enforceable deal to obtain 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 or Specified Higher Education Provider under the contract at least 10 percent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia;

You held at least 30 per cent interest in your entrepreneurial entity when you entered into the contract.

You have a business plan for the entrepreneurial entity noting 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.

2. This visa lets you:

Establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government, make and maintain complying investments in Australia or participate in a complying Entrepreneurial activity in Australia

Travel in and out of Australia for the life of your visa

Bring members of your family unit with you to Australia

2. Your obligations:

You and your family members who hold visas must comply with all visa conditions and Australian laws.

You must maintain an ongoing relationship with your nominating State or Territory government.

The funding party must pay your entrepreneurial entity at least 10 per cent of AUD200 000 within 12 months of the day you start the entrepreneurial activity in Australia and you must utilise this funding in accordance with your funding contract.

There is no Extension stream for this visa.

For more information, please contact us.

Nguyen Do Lawyers

Visa (subclass 132B) Venture Capital Entrepreneur stream

You must have received at least AUD1 million in funding from an Australian venture capital firm (AVCAL).

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Business Talent Visa (subclass 132)

This visa allows you to develop and establish a new or existing business in Australia. It has two streams:

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Visa 188C - Significant Investor stream

This visa is for people who are willing to invest at least $AUD 5 million in Australia and want to maintain business and investment activity in Australia. Applicants must be selected and nominated by Austrade on behalf of the Australian government.

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Visa 188D - Premium Investor stream

This visa is for people who are willing to invest at least $AUD 15 million in Australia and want to maintain business and investment activity in Australia. Applicants must be selected and nominated by Austrade on behalf of the Australian government.

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Visa 188B - Investor stream

This visa is for people who want to make a designated investment of at least AUD1.5million in an Australian state or territory and maintain business and investment activity in Australia. Applicants must be nominated by a state or territory government

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