The following are the specific requirements:
- You have total net assets of at least AUD400,000 as the ownership interest in one or more qualifying businesses for least two of the four fiscal years immediately before you are invited to apply
- If the qualifying business was a publicly listed company, you have a shareholding of at least 10 per cent of the total issued capital
- You have net business and personal assets of at least AUD1.5 million that are legally acquired and can be transferred to Australia within two years after the visa is granted;
- One or more of your main businesses had a total annual turnover of at least AUD3 million in at least two of the four fiscal years immediately before you are invited to apply;
You have ownership of at least:
- 51 per cent of a business with turnover of less than AUD400,000 per year
- 30 per cent of a business with turnover of more than AUD400,000 per year or
- 10 per cent of a publicly listed company.
- You have an overall successful business career;
- You have no involvement in unacceptable business activities;
- You have a genuine desire to own and maintain a management role in a business in Australia
- You are younger than 55 (unless your proposed business will be of exceptional benefit to the region where it will operate).
The following are the specific requirements of the Venture Capital Entrepreneur stream:
- You have received at least AUD1 million in funding from an Australian Venture Capital Firm;
The funding is for:
- A start-up business or product commercialisation or business development of a promising high-value business idea
- The venture capital firm is be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL)
- You have entered into a formal agreement with the venture capital firm for the funding.