The Entrepreneur visa (The Entrepreneur visa), also known as the 188E visa, is a visa category under the 188 Business Innovation and Investment visa programme series, which was issued by the Australian Immigration Service on September 10, 2016 Newly launched brand new visa. The 188E visa, like other visas under the 188 category, is a four-year temporary residence visa. After obtaining the visa, the applicant must go to Australia to start a business and conduct business for four years before becoming an Australian permanent resident.
The 188E visa is for business talents with outstanding business ability and innovative spirit. The Australian government hopes to attract and retain the best and the brightest overseas entrepreneurial talents and skilled through the 188E visa. The skilled, talented people, Australia needs to introduce a large number of high-tech and innovative talents to promote the country’s transformation from relying on mining to a research and innovative economic model.
The 188E visa has strict requirements for applicants to start a business. The company established must obtain one or more investment contracts worth more than 200,000 Australian dollars from a specific third party. Third-party funding is limited to the Australian state (territory) government, federal government agents, publicly funded research institutions and registered as Venture Capital Limited Partnerships (VCLP, venture capital company) or Early Stage Venture Capital Limited Partnerships (ESVCLP, early stage venture capital company) Investors. (The above combination is also acceptable)
In addition, the Immigration Bureau has certain requirements for newly-started companies and industries, which cannot involve real estate, finance, insurance and other business fields. The specific requirements are as follows:
· Newly established enterprises cannot be involved in business areas such as real estate, finance, insurance, infrastructure, venture capital, and labor employment;
·The total assets of the newly established enterprise are less than 250 million Australian dollars;
· More than half of the employees and assets of the newly established company are in Australia;
·Applicants cannot directly purchase existing businesses in Australia, and franchising and chain operations are also not allowed.
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