188E Entrepreneur stream
The 188E Entrepreneur stream visa is available only to applicants who are nominated by an Australian State or Territory government. To receive a nomination, applicants must submit an Expression of Interest (EOI) through the Skill Select system.
This visa is a 4-year temporary option designed for entrepreneurs with innovative ideas and financial support from a third party. After spending 2 years in Australia and being sponsored by a state or territory government, visa holders may qualify for permanent residence through the Business Innovation & Investment (Residence) Subclass 888 visa.
Applicants can apply for this visa whether they are in Australia or overseas.
If the applicant is in Australia:
- They must hold a Substantive Visa or a Bridging A, B, or C visa.
- The Business Innovation and Investment visa program (BIIP) will end, with refunds available from September 2024 for those who wish to withdraw their BIIP application.
188E Entrepreneur Stream
General Requirements:
- Must be nominated by a state or territory government.
- Must demonstrate competent English language skills.
- Must be under 55 years old, unless nominated by a State or Territory Government as providing an “exceptional economic benefit” to that state or territory.
- Must have an agreement for at least $200,000 in funding from one or more of the following sources:
- Commonwealth agencies
- State and territory governments
- Publicly funded research organizations
- Investors registered as Venture Capital Limited Partnerships or Early Stage Venture Capital Limited Partnerships
Acceptable Business Activities:
The proposed venture must involve:
- The commercialization of a product or service in Australia, or
- The development of an enterprise or business in Australia
Certain activities are excluded if they are not considered sufficiently innovative, as defined by legislation. Excluded activities include:
- Purchasing an existing business or franchise
- Real estate activities
- Labor hire activities
Eligible Funding:
To apply for the Entrepreneur Visa, the applicant must secure an agreement for at least $200,000 in funding from the sources listed above. The funding agreement must include the transfer of at least 10% of the funds within 12 months of starting the activity in Australia.
Additional Requirements (for those invited to apply on or after July 1, 2021):
- Must be endorsed by the nominating State or Territory government agency to develop the entrepreneurial concept.
States and Territories:
- Australian Capital Territory
- New South Wales
- Northern Territory
- Queensland
- South Australia
- Tasmania
- Victoria
- Western Australia
Other 188 Visa Eligibility Streams:
- Business Innovation – For business owners seeking to establish operations in Australia. B. Investor – For individuals willing to invest $1.5 million in Australian State or Territory bonds. C. Significant Investor – For individuals willing to invest $5 million in complying investments in Australia. D. Premium Investor – For individuals with significant funds willing to invest at least $15 million in premium investments in Australia. E. Entrepreneur – For individuals with a funding agreement of at least AUD 200,000 to undertake a complying entrepreneurial activity.
Note that business migration can be complex, and determining eligibility can be challenging. You may also qualify under multiple business migration categories.