Supporting innovation through immigration:
- The Entrepreneur Visa
On the 10th September 2016, the Australian Government introduced an additional stream to the existing Subclass 188 business and investment visa framework. The Entrepreneur visa, also referred to as the Subclass 188E, provides budding entrepreneurs with an opportunity to work towards commercialising their innovative ideas, through the receipt of funding provided from a specified and approved Australian organisation. The new visa falls in line with the Turnbull government’s National Innovation and Science Agenda (NISA).
How it works:
The visa applicant needs to:
- Establish an Entrepreneurial entity.
- Obtain at least A$200,000 in funding via a legally binding agreement with an approved entity.
- Approved entities are:
- Commonwealth Government agency
- State or Territory Government
- Publicly Funded Research Organisation
- Investor registered as an AVCLP or ESVCLP
- Specified Higher Education Provider
- Undertake a complying Entrepreneur activity:
- A complying Entrepreneur activity relates to an innovative idea leading to the commercialisation of an Australian product or service, or the development of an Australian business.
- Hold at least 30% ownership interest in the Entrepreneurial entity.
- Develop a detailed business plan.
- Be nominated by an Australian State or Territory Government.
- Be under 55 years of age.
- Have Competent English.
Consistent with the existing Subclass 188 visa streams, the Subclass 188E visa provides a 4-year temporary residency for the visa holder, with possible progression to permanent residency upon continued satisfaction of visa requirements at the permanent visa stage.
General Skilled Migration – claiming points for specialist education qualifications
In line with the Government’s National Innovation and Science Agenda (NISA); international students who have recently obtained an Australian postgraduate research qualification in science, technology, engineering, maths, and ICT; are able to claim an additional 5 points under the existing points test for General Skilled Migration (GSM) visa pathways.
This initiative is part of the Government’s policy to attract and retain highly qualified professionals with STEM and ICT skills.
If you have recently obtained or close to completing relevant qualifications and, believe that you may be eligible to apply, contact the ISA Group for a free assessment of your skills for GSM. The GSM process is complex and substantial and it’s important that you obtain accurate guidance to ensure that your visa application is in line with DIBP’s visa requirements.
Email firstname.lastname@example.org for more information.
Written by: Yi Main Cheong | Business Development Manager for the ISA Group | MARN: 1385224 | email@example.com