Under the Business Innovation and Investment Program, applications for the new Entrepreneur visa are being accepted now.
This new visa will allow entrepreneurs with $200,000 in funding from specified third party to develop and commercialize their innovative ideas in Australia. The visa provides a pathway to permanent residency in Australia.
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 the entrepreneurial venture in Australia
- hold at least 30 percent interest in that entrepreneurial venture
- be nominated by a state or territory government.
Applicants can secure funding from Commonwealth agencies, state, and territory government, public funded research organisations, investors registered as a venture capital limited partnerships or early stage venture capital limited partnerships or any combination of these.