The new Entrepreneur visa, part of the Business Innovation and Investment Programme subclass 188 visa is now available.

The idea for an entrepreneur visa stream was announced last year in the hope that it will contribute to what Prime Minister Malcolm Turnbull called an “ideas boom” in Australia. The visa is designed to attract “talented, innovative people to establish entrepreneurial venture in Australia”.

Entrepreneurs will require $200,000 in funding from a nominated third party to develop and commercialise innovative ideas in Australia. Applicants must first be nominated by an Australian State or Territory Government and be invited through the SkillSelect Expression of Interest System for the visa.

The Entrepreneur Visa will be four years in duration. Providing the visa holder successfully establishes an entrepreneurial venture in Australia there will be a permanent residency pathway available onto permanent residency.

Please contact simon.devere@stirlinghenry.com for more information.