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This provisional visa lets you carry out entrepreneurial activities in Australia.
You must:
– Undertake, or propose to undertake, a complying entrepreneur activity in Australia
– Have a funding agreement of at least AUD200,000 to carry out entrepreneurial activity in Australia
– Show the Home Affairs a business plan for your entrepreneurial activity
– Have at least competent English
With this visa
You can
– Carry out entrepreneurial activity in Australia
– Stay in Australia for 4 years and 3 months
– 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
How long you can stay
This is a provisional visa. You can stay in Australia for 4 years and 3 months.
The visa is granted with multiple entry. You can leave and re-enter Australia as many times as you want while the visa is valid.
The visa is valid from the date the Home Affairs grant it.
Stay longer
This is a provisional visa. You must apply for a new visa if you want to stay longer. Explore your visa options.
Once you have this visa, you can apply for permanent residence through the Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream if certain requirements are met.
Include family
You can include members of the family unit in your application when you apply. You can also add dependent children to your application at any time before the Home Affairs decide on your application.
Family members who apply for the visa must meet the health and character requirements.
In order for the primary applicant to be granted the visa, family members who are not coming to Australia must meet the character requirements and might have to meet the health requirements.
Cost
This visa costs AUD4,045 for the primary applicant.
There is also a charge for each family member who applies for the visa with you.
– Additional applicant over 18 years old: AUD2,025
– Additional applicant 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. This charge is the second instalment. Pay it only when the Home Affairs ask you to. The Home Affairs will refund the charge if they do not grant you the visa.
The second instalment charges are:
– Primary applicant: AUD9,795
– Family members: AUD4,890
To work out what your visa will cost use the Visa pricing estimator. The estimator does not take into account the second instalment or other costs. You might also have to pay other costs for health checks, police certificates and biometrics.
Apply from
You can be in or outside Australia when you apply for the visa and when the Home Affairs decide on your application, but not in immigration clearance.
Processing times
There are no standard processing times available for this stream.
But your application might take longer to process if:
– You do not fill it in correctly
– You do not include all the documents the Home Affairs need or need more information from you
– It takes time to verify your information
Your obligations
You and your family members who are part of your application must comply with all visa conditions and Australian laws.You must meet certain obligations related to your entrepreneurial activities. You must also obey Australian workplace laws.
Meet your entrepreneur obligations
You must have a funding agreement with a third party of at least AUD200,000. There are other eligibility requirements for this visa.
The funding party must pay your entrepreneurial entity at least 10% of the total funding. They must do this within 12 months of the day you start the entrepreneurial activity in Australia. You must use this funding in accordance with your funding agreement.
Follow Australian workplace laws
All workers in Australia (including visa holders) have rights and protections at work. Pay rates and workplace conditions are set by Australian law.
If you operate a business in Australia, you must comply with workplace laws. The Pay and Conditions Tool (PACT) can help you with:
– Pay rates
– Shift calculations
– Leave arrangements and notice
– Redundancy entitlements
Adequate health insurance
The Home Affairs recommend you take out health insurance to cover any unforeseen medical treatment you might need in Australia. You are personally liable for all your healthcare costs while you are in Australia. Insurance can help limit your financial liability.
Reciprocal healthcare agreements
Some countries have a reciprocal healthcare agreement with Australia. Find out more from Services Australia about reciprocal healthcare agreements.
Travel
You can travel outside Australia and return as many times as you want while the visa is valid.
The time you spend outside Australia does not extend the visa.
Visa label
Australian visas are digital.
The Home Affairs do not put a visa label in your passport. Instead, the Home Affairs will link your digital visa record to your passport.
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, the Home Affairs will invite you to apply for this visa.
Be nominated
You must be nominated by a State or Territory government agency before being invited to apply for this visa. The State or Territory government agency that nominates you must not withdraw their nomination after you apply, or the Home Affairs will be unable to grant you a visa.
Be under 55
You will not receive an invitation if you are aged 55 or older, at the time of the invitation to apply for the visa, unless the State or Territory government agency has determined your proposed entrepreneur activity will be of exceptional economic benefit.
Have a complying 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
Receive funding from an approved entity
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. This must be 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.
Not have a history of involvement in unacceptable activities
You and your partner must not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia.
Have competent English
You must have at least competent English
Meet health requirement
You and any family members who apply for the visa with you must meet the health requirement.
Family members who are not coming to Australia may also have to meet the health requirement.
Meet character requirement
You and family members aged 16 years and over who apply for the visa with you must meet the character requirement.
The Home Affairs may also ask that other family members meet the requirement.
Sign the Australian values statement
If you and your family members who have applied for the visa are 18 years of age or older at the time of application, you and your family members must:
– Have read, or had explained to you, the Life in Australia information and
– Sign the Australian Values Statement that confirm you will respect the Australian way of life and obey Australian laws when you
Have no debt to the Australian government
If you or any family members owe the Australian Government money, you or they must show that it has been paid back or there is an approved arrangement in place to pay it back.
Not have had a visa cancelled or a previous application refused
You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.
