Business Innovation and Investment (Provisional) visa (subclass 188)

188E Visa Entrepreneur stream

 

The Business Innovation stream is for successful business people who want to establish or develop a business in Australia.

Eligibility conditions

Have a complying entrepreneur activity

Have a complying entrepreneur activity

 

You must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia. You must have a genuine intention to continue this activity.

A complying entrepreneur activity must relate 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 categories:

  • residential real estate

  • labour hire

  • purchase of an existing enterprise or a franchise in Australia

 

 

Receive funding from an approved entity

You must have one or more legally enforceable agreements to receive funding with a total of at least AUD200,000. The funding must be from one of the following entities:

  • Commonwealth Government agency

  • State or Territory government agency

  • Publicly funded research or innovation organisation

  • Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003

  • Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership

At least 10% of the funding must be payable to the entrepreneurial entity within 12 months of the activity starting in Australia. This must be in the agreement.

The entity that will conduct the activity (the entrepreneurial entity) must be either an individual (yourself), a company or a partnership.

You must have held at least 30% interest in your entrepreneurial entity when you entered into the agreement.

You must also have a business plan for the entrepreneurial entity. This business plan should note 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

All of the funding provided or to be provided to the entrepreneurial entity under the agreement or agreements is unencumbered and lawfully acquired.

Not have a history of involvement in unacceptable activities

You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.

Processing Time: 14-22 months

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