188E Visa Eligibility:
To obtain a 188E Business (Entrepreneur) visa, you must meet the following requirements:
- The applicant must be nominated by a state or territory government
- The applicant must have Competent English
- Be under 55 years of age (unless a state or territory government nominates you as providing ‘exceptional economic benefit’ to the state or territory.
- Have a funding agreement in place for at least $200,00 to establish a venture in Australia
- Ownership interest of at least 30% in the venture
- Your proposed venture need to be either commercialisation of a product or service in Australia, or development of an enterprise of business within Australia.
- Certain activities are not considered sufficiently innovative and are excluded – these include the purchase of an existing business or franchise, real estate activities and labour hire activities.
To apply for the Entrepreneur Visa, you will need to have an agreement for at least $200,000 in funding from a commercial agency, a state or territory government, a publicly funded research organisation or investors who are 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.
Is this visa right for me?
Business visas are complex and it can be difficult to determine if you are eligible, and which 188 business visa stream to apply for. If you need assistance determining if your circumstances are suitable for the 188E Business visa, or if you would like help with the application process, get in touch with AIS Immigration Solutions today or book a Skype meeting.