This visa category is for experienced skilled business persons who have an innovative business idea which can be commercialized in Australia.
- You must:
- be under 55 years of age,
- have competent English (i.e. IELTS 6.0 bands in all four modules)
- be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity
A Complying Entrepreneur Activity is an activity that relates to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
- The following business activities will not be considered for this category:
- Residential real estate
- Labour hire
- Purchase of an existing enterprise or a franchise in Australia.
- An activity is a complying entrepreneur activity if all of the following requirements are met:
- you have one or more legally enforceable agreements to receive funding with a total of at least AUD200 000 from one of the following entitites:
- Commonwealth Government agency
- State or Territory Government
- Publicly Funded Research Organisation
- Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
- Specified Higher Education Provider
- under the agreement at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia;
- You held at least 30 per cent interest in your entrepreneurial entity when you entered into the agreement.
- You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
We,at MIS Legal can assist you in applying for this visa. For more detailed information, please feel free to book a consultation with us on “info@MISLegal.org”