188E Entrepreneur stream

This VISA is only available to applicants who are nominated by an Australian State or Territory government. To be nominated, the applicant must lodge an Expression of Interest (EOI) through the SkillSelect system.

This is a 4-year temporary visa, for entrepreneurs with innovative ideas and financial backing from a third party. After spending 2 years in Australia and being sponsored by a state or territory government to qualify for a permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.

The applicants can either be in Australia or overseas to lodge this visa.

If the applicant is in Australia:

  • Must hold a Substantive Visa or a Bridging A, B or C visa.

188E Entrepreneur Stream

General Requirements:
  • Nomination by a state or territory government
  • Competent English
  • Under 55 Years of age, unless a State or Territory Government nominates you as providing an “exceptional economic benefit” to the state or territory
  • Funding agreement in place for at least $200,000 to establish a venture in Australia
  • Ownership interest of at least 30% in the venture
Acceptable Business Activities: The proposed venture would need to be either:

  • Commercialisation of a product or service in Australia; or
  • Development of an enterprise or business in Australia

Certain activities which are not considered sufficiently innovative will be excluded. This are defined by legislative instrument and include:

  • Purchase of an existing business or franchise
  • Real estate activities
  • Labour hire activities
Eligible funding To apply for the Entrepreneur Visa, the applicant will need to have an agreement for at least $200,000 in funding from one or more of the following sources:

  • Commonwealth agencies
  • State and territory governments
  • Publicly funded research organisations
  • Investors registered as Venture Capital Limited Partnerships or Early Stage Venture Capital Limited Partnerships

·         The funding agreement must involve the transfer of at least 10% of the funds within 12 months of commencing the activity in Australia.

Other 188 Visa eligibility streams:

  • for people who are willing to invest $1.5 million in an Australian State or Territory bonds

  • for people with significant funds who are willing to invest at least $15 million into complying premium investments in Australia.

  • for people who have a funding agreement from a third party for at least AUD200 000 to undertake a complying entrepreneur activity

Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.

Contact us today for a commitment free briefing with our Registered Migration Agents in Melbourne to find more about your visa options.