Australia’s New Entrepreneur Visa
November 28, 2016
APPLICATIONS ARE OPEN: AUSTRALIA’S NEW ENTREPRENEUR VISA
Are you an innovator, or have a business idea that you want to get off the ground in Australia? The new Entrepreneur visa might just be for you.
On September 10 2016, the changes came into effect. Minister for Immigration and Border Protection, Peter Dutton, said the new visa will attract new and exciting entrepreneurs to Australia.
“The new Entrepreneur visa provides a pathway to permanent residence and allows entrepreneurs with $200,000 in funding from a specified third party to develop and commercialise their innovative ideas in Australia,” Mr Dutton said.
To be eligible for the Business Innovation and Investment (Provisional) visa (subclass 188), Entrepreneur stream, you must:
- Be under 55 years-of-age. However, a state or territory can waive this requirement if your proposed innovative idea will be of exceptional economic benefit to the nominating state or territory.
- Have competent English skills and be able to provide evidence of this at the time you apply for the visa.
- Be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia, and have a genuine intention to continue this activity. This means that your activity must relate to an innovative idea, leading to the commercialisation of a product or service, or the development of an enterprise or business, in Australia.
- Be nominated by a state or territory government.
The visa allows you to travel in and out of Australia for the duration of your visa, and also bring family members with you to Australia.
Ultimately, this visa is the perfect pathway to applying for permanent residency.
BEFORE YOU APPLY
The first step to being nominated involves submitting an expression of interest (EOI). The EOI must include which state or territory you seek nomination from, or if you are seeking nomination from the Australian government.
Once you have submitted your EOI, the state or territory’s government will view it and decide whether they wish to nominate you. The criteria for nomination differ for each state or territory. If you want to know more, get in touch.
SO, YOU’VE RECEIVED AN INVITATION. WHAT NEXT?
If you receive an invitation from the state or territory’s government, you have 60 days to apply online for the visa. It is very important you apply within this timeframe to avoid complications.
You do not need supporting documents to accompany your EOI, however you will need extensive supporting documentation for your visa application.
We can help you work out which documents you need and help you compile them as soon as possible. It’s essential you have these documents prepared early on, so you can promptly apply for the visa if you receive an invitation.
To qualify for this visa, you must be:
- Nominated by a state or territory government, or an Australian agency; and
- Be invited to apply by the Minister for Immigration and Border Protection.
Chat to us today about how you can be nominated and invited to apply.
You need a valid passport or other travel document for this visa. If you need to apply for a new passport, you should do this before applying for the Entrepreneur visa.
Have questions? Get in touch now. We keep our finger on the pulse of all changes to visas, and can explain exactly what the new Entrepreneur visa could mean for your future in Australia.