Entrepreneurs with creative ideas and outside funding should apply for the 188E Business visa. Only those who have been nominated by an Australian state or territory government are eligible for the 5-year temporary visa.
For business owners looking to launch a venture in Australia, there is the Business Innovation Stream Entrepreneur Subclass 188E visa. The 188E visa is only valid for a short period of time, but after five years of successful investment management, it can lead to permanent residency in Australia.
If you apply for a visa while in Australia, but you can also do so from abroad, you will need a substantive visa or a bridging A, B, or C visa.
Benefits of Entrepreneur Visa
- You can either start a brand-new company from scratch or buy an existing one.
- You can select a business that corresponds to your entrepreneurial background.
- Primary and secondary school students will be classified as domestic students in order to avoid paying high international student fees.
- Your partner will be granted an open Work Visa, allowing him or her to work for any company in New Zealand.
- Operate a business and make investments in Australia.
- Travel to, entry into, and residence in Australia for up to five years.
- Bring eligible members of your family with you.
- If certain conditions are met, submit an application for a permanent Business Innovation and Investment (Permanent) visa (subclass 888).
Visa Criteria :
Unless you are selected by a State or Territory Government as providing an "exceptional economic benefit" to the state or territory, you must be younger than 55.
Duration and condition :
- The duration of this visa is four years. The Business Innovation & Investment (Residence) Subclass 888 visa allows you to apply for permanent residency once your company has been established in Australia.
- You must hold an Entrepreneur Visa for at least two years in Australia and be sponsored by a state or territory government in order to be eligible for a permanent subclass 888 visa.
The Entrepreneur Program:
Those who are recommended by an Australian State or Territory government are the only ones who can apply for the 188E visa. The applicant must submit a SkillSelect Expression of Interest (EOI) in order to be considered for nomination.
This is a temporary visa with a 5-year validity period for business owners with creative ideas and outside funding. To be eligible for a permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa, you must have spent two years in Australia and been sponsored by a state or territory government.
For this visa application, the applicants may be in Australia or abroad.
Meet your entrepreneurial obligations:
- The quantity of permanent residents and Australian citizens employed
- How much and how the activities are being funded and invested in on a continuing basis
- The total volume of business operations each year.
- Any recognition of your successful entrepreneurial endeavours by a start-up accelerator, incubator, or other organisation that helps new businesses and is acknowledged by the State or Territory government agency nominating you.
Apply for permanent residence:
Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream if certain conditions are met.
Travelling on your visa:
This visa permits multiple entries. While the visa is valid, you are free to leave and return to Australia as often as you like.
The length of your stay outside of Australia will not prolong your visa.
Family members must submit a separate online application if they want to apply for the same visa after you have been granted it. "Subsequent entrants" refers to any subsequent family members.
Fill out the ImmiAccount application form titled "Application for a Business Innovation and Investment (Subsequent Entrant) Visa."