Key changes from 1 July 2021 include:
* You no longer require at least AUD200,000 funding agreement from a Venture Capital, but you must be endorsed by your nominating State or Territory government agency to develop your entrepreneurial concepts.
Who is 188E Entrepreneur Visa suitable for?
188E Entrepreneur Visa is suitable for applicants who will invest into a business in Australia with an innovative product or service. To be eligible for 188E, the applicant will require to obtain endorsement from your nominating State for Territory government agency to develop your entrepreneurial concepts.
There are a few key benefits of 188E Entrepreneur Visa. Compared to 188A, the 188E visa does not require the applicant to have a track record of previous business ownership and management experience. Compared to 188B, the applicant does not require to have experience in managing an investment portfolio.
188E Main Eligibility
- Requires invitation to apply for the visa
- Be less than 55 years old (exemption applies)
- Has Competent English
- Undertaking, or proposing to undertake, a complying entrepreneur activity
- Obtain endorsement from your nominating State or Territory government agency
- Genuine intention to undertake, and continue to undertake, the complying entrepreneur activity in Australia
- Has sufficient business and personal assets to settle in Australia
188E Main Conditions
- For offshore applicants, first entry must be made before the date specified by the Minister
- Maintain an ongoing relationship with the nominating State or Territory
Main Eligibility for Permanent Resident Visa
- Be in Australia for at least 2 in the 3 years immediately before the application was made
- Has held 188E visa for at least 3 years
- Have a successful record of entrepreneurial activities
Did you know for 188E?
- The entrepreneur activity must relate to an innovative idea (an idea must lead to business development or commercialisation of a product or service in Australia)
188E Entrepreneur Additional Information
|Stay||Up to 5 years with pathway to Business Innovation and Investment (Permanent) visa subclass 888 which is a permanent visa|
|Cost||AUD4,115 for primary applicant|
AUD2,060 for additional applicant over 18 years
AUD1,030 for additional applicant under 18 years
|Processing Time||75% of applications: Processing times are not available|
90% of applications: Processing times are not available
You and your family members may be required to take a health examinations to meet the health requirement to show that you are free from any disease or condition that is:
- a significant healthcare and community service cost to the Australian community
- likely to limit the access of Australian citizens and permanent residents to healthcare and community services that are in short supply by placing demand on those services.
Your health examination will include the standard medical examination. Additional tests (such as TB Screen test, chest x-ray, and HIV test) will be required by different age groups. In some circumstances, you may be required to take additional tests such as: hepatitis B and C test, syphilis test, HIV test, and tests that address your specific health risks.
You must be of good character and pass the character test. There are a number of circumstances where you may not pass the character test. For example, if you have a substantial criminal record. A substantial criminal record means if you have been:
- sentenced to death or imprisonment for life
- sentenced to a term of imprisonment of 12 months or more
- sentenced to two or more terms of imprisonment (even if served concurrently) where the total is 12 months or more
- found by a court to not be fit to plead in relation to an offence but found to have committed the offence and detained in a facility or institution
You may be required to obtain one or more documents to prove your character, such as: a police certificate, Form 80, character statutory declaration, military certificate, or a letter of good conduct from an employer.
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