The Entrepreneur Visa Subclass 188 is a temporary visa for individuals who want to start a new or develop an existing business in Australia. The visa is part of the Business Innovation and Investment Program, which is designed to attract entrepreneurs with innovative business ideas and a strong track record of business success.
Here is a guide on how to apply for the Entrepreneur Visa Subclass 188 and what to expect during the process:
Eligibility criteria: To be eligible for the Entrepreneur Visa Subclass 188, you must meet certain criteria, including having a genuine and realistic business proposal, a successful business history, and at least AUD 200,000 in net business and personal assets.
Business proposal: To apply for the visa, you will need to submit a business proposal outlining your business idea, including details of the products or services you plan to offer, the target market, and the projected financials. Your business proposal will be assessed by a panel of experts to ensure it is viable and innovative.
Points-tested: This visa is points-tested, which means that you will need to score a certain number of points based on criteria such as age, qualifications, business experience and English proficiency.
Compliance and background checks: As part of the visa application process, you will be required to undergo compliance and background checks, including police checks and medical examinations.
Investment: As part of the visa requirements, you will need to invest at least AUD 200,000 in your business.
Compliance: Once your visa is granted, you will be required to comply with certain conditions, such as maintaining your business in Australia and actively working to develop it.
Pathway to Permanent Residency: After establishing your business in Australia, you may be eligible for a Permanent Residency under the Business Innovation and Investment (Provisional) visa (subclass 188) or the Business Innovation and Investment (Permanent) visa (subclass 888)
It’s worth noting that the Entrepreneur Visa Subclass 188 is a competitive program and not everyone who applies will be successful. However, for those who are successful, it can provide a pathway to establish a business in Australia and potentially gain Permanent Residency. It’s always important to check the most recent and updated information from the official government website, as the process and requirements may change over time.