Entrepreneur Stream (Provisional) Subclass 188e
The Entrepreneur stream is aimed at providing applicants with highly innovative entrepreneurial ideas with a pathway to access the Business Skills visa.
Unlike other streams, the Entrepreneur Stream does not require proof of specific minimum assets, although the regulatory requirement does specify that the nominating State or Territory Government agency must be satisfied that the net value of the applicant, or their partner or both together, have sufficient business and personal assets to allow them to settle in Australia.
To be eligible, the applicant must:
- not have turned 55 years of age;
- be nominated by an Australian State or Territory government agency;
- undertake or propose to undertake a complying entrepreneur activity in Australia;
- have one or more legally enforceable agreements to receive funding with a total of at least AUD200,000 from one or more following entities:
– Commonwealth Government agency
– State or Territory government agency
– Publicly funded research or innovation organisation
– Eligible Higher Education provider
– Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership.
- not have a history of involvement in unacceptable activities; and
- have competent English.
Entrepreneur Stream (Permanent) Subclass 888e
This visa allows the holders of Subclass 188e to apply for permanent residency if they continue satisfying the minimum requirements as below:
- Hold the complying investment or complying significant investment for the required period of time;
- Live in Australia for a required period of time before the application; and
- Not have been involved in unacceptable business or investment activities.