Benefits
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Applicants and family can come to live, study, work and do business in Australia during the visa is issued
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No requirement to net personal and business assets nor to satisfy points test
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Free public education to children at government schools for prep to year 12
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No requirement to demonstrate previous business or investment history
About 188E - Entrepreneur stream
The provisional Visa 188E is part of the Australian government’s Business Innovation program to attract successful entrepreneurs & investors from around the world to immigrate and grow businesses in Australia.
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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.
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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.
188E/888E
ENTREPRENEUR VISA
General Requirements:
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Nomination by a state or territory government
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Have "Competent English"
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Under 55 Years of age, unless a State or Territory Government nominates you as providing an “exceptional economic benefit” to the state or territory
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Funding agreement in place for at least $200,000 to establish a venture in Australia
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Ownership interest of at least 30% in the venture
The proposed venture would need to be either:
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Commercialisation of a product or service in Australia; or
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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:
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Purchase of an existing business or franchise
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Real estate activities
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Labour hire activities
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:
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Commonwealth agencies
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State and territory governments
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Publicly funded research organisations
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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.
Visa 188E Requirement
From Visa 188E To Visa 888E
Requirements for applicants
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Entrepreneurial activity
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have a successful record of entrepreneurial activities that meets at least 2 key successful factors or 1 key successful factor and 2 supporting success factors
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Residence requirement
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resided in Australia for at least 2 years of the 4 years after been granted the provisional visa
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Commitment
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continue to carry out business or investment activities in Australia
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Key success factors include:
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employing 2 or more Australians, permanent residents or other eligible persons
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generating an annual turnover of at least AUD300, 000
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filing a provisional patent or acquiring a standard or innovation patent
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receiving ongoing funding or investment in your entrepreneur activity
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entering into a partnership with a university
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selling an entrepreneurial venture for AUD2 million
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Supporting success factors include:
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adapting your entrepreneurial activities into other business areas
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receiving a statement of success from a state or territory government nominator
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receiving sponsorship from the corporate sector
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starting at least 1 other business or contributing to at least 2 other businesses
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receiving formal awards or recognition
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raising or contributing to social capital
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