BUSINESS VISA (ENTREPRENEUR) Subclass 188E

The 188E Business visa is ideal for entrepreneurs with innovative ideas and third-party financial backing. It is a four-year temporary visa available only to applicants nominated by an Australian state or territory government. To be nominated, applicants must submit an Expression of Interest (EOI) through the SkillSelect system.

After spending two years in Australia while sponsored by a state or territory government, the applicant will be eligible for permanent residence under the Business Innovation and Investment (Residence) subclass 888 visa. An applicant does not need to be in Australia when applying for this visa, but if they are, they must have a current Substantive Visa or a Bridging A, B, or C visa.

Eligibility for 188E VISA:

You must meet the following requirements to obtain an 188E Business (Entrepreneur) visa:

• A state or territory government must nominate the applicant.
• The applicant must be fluent in English.
• Be under the age of 55 (unless you are nominated by a state or territory government as
• Providing 'exceptional economic benefit' to the state or territory).
• Have a funding agreement in place for at least $200,000 in order to start a business in Australia.
• A minimum of 30% ownership in the venture
• Your proposed venture must be either the commercialization of a product or service in Australia or the development of a business enterprise within Australia.
• A few activities, such as the purchase of an existing business or franchise, real estate activities, and labour hire activities, are deemed insufficiently innovative and are thus excluded.

Aditional Notes

You must have an agreement for at least $200,000 in funding from a commercial agency, a state or territory government, a publicly funded research organisation, or investors who are registered as Venture Capital Limited Partnerships or Early Stage Venture Capital Limited Partnerships to apply for the Entrepreneur Visa. The funding agreement must stipulate that at least 10% of the funds be transferred within 12 months of the start of the activity in Australia.