New Visa designed to attract Entrepreneurs to Australia
The Department’s newly created Entrepreneur Visa Stream is already looking to be a popular option for those who are savvy in business. While many are referring to it as a new visa, it is actually a stream of the pre-existing Business Innovation and Investment (Subclass 188) temporary visa.
This stream will allow entrepreneurs with at least $200 000 in funding from a specified third party to develop and market their ideas. This Entrepreneur stream provides a pathway to permanent residency in Australia.
To be eligible for the Entrepreneur stream, an applicant must be under 55 years of age and be competent in English. The applicant must also have an agreement in place for at least $200 000 to grow their entrepreneurial venture in Australia, and they must hold 30% interest in the entrepreneurial venture. The applicant must also be nominated by a state or territory government.
Applicants can obtain funding from Commonwealth agencies, state and territory governments, publicly funded research organisations, investors registered as a venture capital limited partnerships or early stage venture capital limited partnerships or any combination of these sources.
For more information on Australia’s business and investor visa programs, please click here.
If you believe you might meet the eligibility requirements of any of the Business Visa options, including the Entrepreneur stream, please contact one of our skilled migration lawyers on 3229 4025 for comprehensive advice and assistance. Alternatively click here to send us your details.