SUBCLASS 188 - eNTREPRENEUR STREAM

For those who have an innovative business idea to propose to a State/Territory

  • No minimum skilled points

  • No requirement for prior business or investment background (although it would be a definite advantage)

  • No requirement to prove a minimum period of owning your funds prior to visa application

▶ Be nominated by a State/Territory or Austrade

▶ Be invited to apply by the Australian government
via Skillselect

▶ Be under age of 55 years old

▶ Have a business idea/proposal approved by a
nominating State/Territory

▶ Prove Competent English (Minimum score of 6.0 for each band on IELTS test)

▶ Meet health requirement for you and all family members applying for the same visa.

▶ Meet character requirement for you and all
family members applying for the same visa.

▶ No history of involvement in unacceptable
activities

Stay in Australia
• Up to 5 years

What can I do with this visa?
• Execute and run your proposed business
activity in Australia;
• Unlimited travel in and out of Australia;
• Bring eligible members of family with you;
• Be eligible to apply for permanent residence
visa (subclass 888 -Entrepreneur Stream) after
required conditions are met.

When can I apply for permanent residence visa subclass 888 Entrepreneur Stream?
If invited to apply on or after 1 Jul 2021:
- After 3 years as a holder of subclass 188
Entrepreneur stream visa;
- After having run your proposed business in Australia successfully in the nominating state;
- Lived in Australia for at least 2 out of the 3
years before the time of application.

If invited to apply before 1 Jul 2021:
- After 2 out of 4 years holding the subclass 188
Entrepreneur stream visa

After having run your proposed business in
Australia successfully.

188 Entrepreneur stream: Compliance Requirements

Entrepreneur stream Complying entrepreneur activity:

The business you propose to undertake must be an activity that:
(a)  relates to an innovative idea that will lead to
commercialisation of a product or service in
Australia; OR
(b) the development of an enterprise or business in
Australia

Your business activity MUST NOT relate to any of the following categories:
• residential real estate
• labour hire
• purchase of an existing enterprise or a franchise in
Australia

If you were invited to apply for the visa after 1 July 2021
Generally, you do not need to prove an approved funding by any third party entities.
However, you may still be required to do so for certain states.
Some states such as New South Wales or Victoria or Queensland require an endorsement by an accelerator/incubator to ensure your proposed business has the support of a good mentoring program for the growth of your proposed business.

If you were invited to apply for the visa before 1 July 2021:
all of the following conditions would apply:

 (a)  funding in relation to the activity is to be provided to any of the following entity types:
(i)  the applicant
(ii)  a body corporate
(iii)  a partnership;

 (b)  the funding is to be provided under one or more legally enforceable agreements signed between the
entrepreneurial entity and one or more entities in the following:

(i) an agency of the Commonwealth, a State or
a Territory, or a body established under a
law of the Commonwealth, a State/Territory;
(ii)  a body corporate;
(iii)  a partnership;
(iv)  an unincorporated body;
(v)  an individual;
(vi)  the trustee of a trust that has only 1 trustee;
(vii)  the trustees together of a trust that has
more than 1 trustee; and

(c)  if the applicant is not the entrepreneurial entity, the applicant personally held, at the time the agreement at least a 30% share in the ownership of the entrepreneurial entity;

(d)  the total funding amount secured under the agreement (s) is at least A$200,000;

(e)  under the agreement or each agreement, at least 10% of the funding is to be paid to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia;

(f)  there is in place a business plan for the entrepreneurial entity that would lead to product/service commercialisation or the development of a business/enterprise in Australia;

(g)  all of the funding provided or to be provided to the entrepreneurial entity under the agreement or agreements is unencumbered and lawfully acquired.