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Home > SC 188 7. Entrepreneur Stream

SC 188 7. Entrepreneur Stream

 
Overview This visa lets you carry out entrepreneurial activities in Australia.
Visa type Provisional
Cost of application From AUD4,045 (see ’cost’ below for additional information)
Duration of visa 4 years and 3 months. Multiple Entry.
Uses of this visa
  • carry out entrepreneurial activity in Australia
  • bring eligible members of your family with you
  • apply for a permanent Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream  if certain requirements are met
Eligibility Applicants must meet the following requirements-
  • Receive an invitation to apply (see ‘invitation’ below)
  • Be nominated by a State or Territory government agency before being invited to apply for this visa.
  • Be under 55 years of age
  • Have a complying entrepreneur activity (see ‘entrepreneur activity’ below)
  • Receive funding from an approved entity (see ‘funding’ below)
  • Not have a history of involvement in unacceptable activities
  • Have competent English
  • Meet the  health requirement
  • Meet the character requirement (applicable to family members aged 16 and over)
  • Sign the Australian values statement
  • Have no debt to the Australian Government
  • Not have had a visa cancelled or a previous application refused

Cost

This visa costs AUD4,045 for the main applicant.

There is also a charge for each family member who applies for the visa with you:

  • family members over 18 years old: AUD2,025
  • family members under 18 years old: AUD1,010

You must pay an extra charge for any applicant 18 years old or older who has less than functional English.

The second instalment charges are:

  • main applicant: AUD9,795
  • family members: AUD4,890

You might also have to pay other costs for health checks, police certificates and biometrics.

Receive an invitation to apply

First you must submit an Expression of Interest (EOI). If an Australian State or Territory government agency accepts your EOI and nominates you, you will be invited to apply for this visa.

Entrepreneur Activity

You must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia. You must have a genuine intention to continue this activity.

 

A complying entrepreneur activity must relate to an innovative idea that will lead to:

  • the commercialisation of a product or service in Australia, or
  • the development of an enterprise or business in Australia

 

This 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

Funding

You must have one or more legally enforceable agreements to receive funding with a total of at least AUD200,000. The funding must be from one of the following entities:

  • Commonwealth Government agency
  • State or Territory government agency
  • Publicly funded research or innovation organisation
  • Higher education provider specified as a Table A or Table B provider under Part 2-1 of the Higher Education Support Act 2003
  • Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership

At least 10% of the funding must be payable to the entrepreneurial entity within 12 months of the activity starting in Australia, with this being in the agreement.

The entity that will conduct the activity (the entrepreneurial entity) must be either an individual (yourself), a company or a partnership.

You must have held at least 30% interest in your entrepreneurial entity when you entered into the agreement.

You must also have a business plan for the entrepreneurial entity. This business plan should note how your innovative idea will lead to:

  • the commercialisation of a product or service in Australia, or
  • the development of an enterprise or business in Australia

 

All of the funding provided or to be provided to the entrepreneurial entity under the agreement or agreements is unencumbered and lawfully acquired.