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New stream to the Business Innovation and Investment visa

On 10 September 2016, the Entrepreneur stream was added as a new stream to the Business Innovation and Investment (Provisional) visa (subclass 188) by the Department of Immigration and Border Protection (DIBP). Th Entrepreneur stream has the lowest funds requirements in the Business visas for starting-up an innovation.

The main criteria:

  • Submit an EOI in SkillSelect and nomination by a State/territory government, being invited by the Minister
  • Under 55 years of age (unless the nominating state or territory certifies that you will make an exceptional economic benefit) with ‘Competent English’
  • 65 points or over in the Business Innovation and Investment Points test
  • Proposed to undertake a complying entrepreneur activity which is an innovative idea and not be in residential real property, labour hire industry or an existing enterprise in Australia
  • Secure one or more legally enforceable agreements to receive funding with a total of at least $200,000
  • Hold at least 30% interest in the Entrepreneurial Entity
  • 10% of the funding must be paid within 12 months of the day the activity starts
  • Provide a satisfactory business plan for the entrepreneurial activity noting how the Innovation Idea will lead to the commercialisation of the product or service
  • Maximum of three applicants can apply under the same entity
  • Meeting other such as health and character criteria

For more information regarding how to apply for this visa

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