Australian Business Visa
188E Enterpreneur Stream
This 188E Business visa is a 4 year temporary visa for entrepreneurs. This is a pathway to appy for the Business Innovation & Investment (Residence) (Subclass 888) visa. The applicants must lodge an Expression of Interest (EOI) through the SkillSelect system and nominated by an Australian State or Territory goveronment. The applicants can either be in Australia or overseas to lodge this 188E visa. If the applicant is onshore (in Australia), the applicant must hold a Substantive visa or a Bridging A, B or C visa.
This subclass 188E Entrepreneur visa is the last of the 188 visa streams. The applicant must find a Partner from one or more of:
- Commonwealth/State/Territory Government;
- Publicly Funded Research or Innovation Organisation;
- Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership; or
- Higher Education Provider
The applicant must be uner 55 years old and have Competent English (equivalent to IELTS 6 or PTE 50). Also, the applicant must be nominated by a State or Territory Governent and undertake a complying entrepreneur activity.
What is a complying entrepreneur activity ?
- The Activity is an innovative idea leading to the commercialisation of a product or service in Australia or development of an enterprise or business in Australia.
- The activity must be worth at least $200,000(AUD) with the applicant holding at least 30% interest in the entrepreneurial entity.
- At least 10% of funding must be payable to the entrepreneurial entity within 12 months from the day that the activity commences.
- The applicant provides a business plan that shows how the innovative idea will lead to the commercialization of a product or service in Australia, or the development of an enterprise or business in Australia.
Other 188 Visa Eligibility Streams
Business Innovation and Investment (Provisional) Visa (Subclass 188)
Subclass 188A Business Innovation Stream
If all the following requirements are met, then the prospects are looking good for State/Territory nomination.
- Applicant should be under 55 years old; and
- Applicant must be able to accumulate 65 points in the Points Test; and
- Applicant will need to be sponsored by a State/Territory Government; and
- There must be an acceptable business proposal for the sponsoring State/Territory; and
- Applicant and the Partner must have a net business and personal assets of $800,000 which can be transferred to Australia within 2 years of visa been granted; and
- The business turnover must be at least $500,000 for 2 of the previous 4 years.
Suclass 188B Investor stream
- Under 55 years old
- Pass 65 points in Points Test
- have a successful record of eligible investment or qualifying business activity
- have at least 3 years experience in managing business(es) or eligible investments
- have net business and personal assets of $2.25 million in past 2 years
- there is no business turnover requirement
- For one of past 5 fiscal years – either:
(a) Managed qualifying business & hold 10% of total value of business;
(b) Managed eligible investments & net value of investments at least $1.5million
- make a designated investment of $1.5 million into state/ Territory bond for 4 years when requested by State/Territory Government before the visa is granted.
Subclass 188C Significant Investor Visa Stream
- Applicants must make an investment of at least $5million.
- From 1 July 2015, the law requires the following $5m investments:
- At least $500,000 in eligible Australian venture capital or growth private equity fund(s) investing in start-up and small private companies.
- At least $1.5 million in an eligible managed fund(s) or Listed Investment Companies (LICs) that invest in emerging companies listed on the Australian Securities Exchange (ASX); and
- A ‘balancing investment’ of $3 million in managed fund(s) or LICs that Invest in a combination of eligible assets that include other ASX listed companies, eligible corporate bonds or notes, annuities and real property (subject to the 10 per cent limit on residential real estate).
- Direct investment in residential real estate is banned. A portion of funds can be permitted to flow into commercial real estate, but only via managed funds.
- There will be enhanced measures to improve protection for investors.
- Need to spend 160 days in Australia over 4 years (compared with years in 4 years for the other Investor visa); OR for Spouse to reside in Australia for 180 days per year (over 4 years)
- Prove that funds are unencumbered and source of funds are legitimate.
Subclass 188D Premium Investor Visa Stream
- The applicant must investment of $15 million(AUD) for a minimum of 12 months and follow Australian workplace laws.
- There is No residency requirement after visa grant.
- The applicant is eligible to apply for a permanent residence subclass 888 visa after 12 months – the applicant must genuinely have a realistic commitment to maintain business and investment activity.
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