The new Australian Entrepreneur visa is designed as a new stream in the Business Innovation and Investment visas to provide a pathway to permanent residence for high calibre entrepreneurs and start-ups with financial backing from third parties in Australia, who are nominated by a State or Territory government and who meet residence requirements and complete successful entrepreneurial activities in Australia.
The Entrepreneur steam programme is designed to attract individuals who are under 55 years old (unless the age requirement is waived by a nominating state or territory) and have obtained capital backing from a third party to develop and commercialise innovative and entrepreneurial ideas in Australia, with a pathway to permanent residence made available for those who demonstrate a successful record of undertaking entrepreneurial activities in Australia
What this visa lets me do:
- establish a new or develop an existing business and/or invest in Australia, make a designated investment with an Australian state or territory government, make and maintain complying investments in Australia or participate in a complying entrepreneurial activity in Australia
- travel in and out of Australia for the life of your visa
- bring family members with you to Australia
- seek permanent residence by applying for a Business Innovation and Investment (Permanent) visa.
- be under 55 years of age, although a state or territory can waive this requirement if your proposed complying entrepreneur activity will be of exceptional economic benefit to the nominating state or territory
- have competent English and be able to provide evidence of this at the time you are invited to 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
A Complying Entrepreneur Activity is an activity that relates to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
This activity must not relate to any of the following excluded categories:
- Residential real estate
- Labour hire
- Purchase of an existing enterprise or a franchise in Australia.
An activity is a complying entrepreneur activity if all of the following requirements are met:
- you have one or more legally enforceable agreements to receive funding with a total of at least AUD200 000
- one of the following entities:
- Commonwealth Government agency
- State or Territory Government
- Publicly Funded Research Organisation
- Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
- Higher Education Provider
- under the agreement at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia;
- You held at least 30 per cent interest in your entrepreneurial entity when you entered into the agreement.
- You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
Note: for the Entrepreneur stream temporary arrangements will be in place until November 2016. Thames Migration will contact you with instructions on how to lodge your visa application.
To learn more or apply for the new startup visa please contact the Thames team in the UK on 02089920120, in Australia on 0412525232 or complete our form below.