New Entrepreneur visa
From 10 September 2016, a new Entrepreneur visa will be available as a new part of ourBusiness Innovation and Investment Programme. The Entrepreneur visa will allow entrepreneurs with $200,000 in funding from a specified third party to develop and commercialise their innovative ideas in Australia. It also provides a pathway to permanent residency.
To be eligible for the Entrepreneur visa, you must:
- be under 55-years-old
- have a competent level of English
- have an agreement in place for at least $200,000 to grow your entrepreneurial venture in Australia
- hold at least 30 per cent interest in that entrepreneurial venture
- be nominated by a state or territory government.
Your $200,000 in funding can come from Commonwealth agencies, state and territory governments, publicly funded research organisations, investors registered as Venture Capital Limited Partnerships or Early Stage Venture Capital Limited Partnerships, or any combination of these.
If you are a co-founder of an entrepreneurial venture, you and your other co-founders can apply for an Entrepreneur visa for the same venture, as long as you each have a 30 per cent share when you enter into your funding agreement.