Overview
This visa stream is best suited for the applicants who have successfully obtained a funding agreement from an Australian entity. Please see below a summary of eligibility criteria that the primary applicant will be required to meet to lodge a visa application.
Eligibility Criteria:
- Be nominated by a state or territory government
- Have competent English
- Be under the age of 55 Years, unless a State or Territory Government nominates you as providing an “exceptional economic benefit” to the state or territory in which case an applicant can be over 55 years
- Have entered into an acceptable funding agreement* with an Australian entity for an investment of at least $200,000 to establish a venture in Australia
- Have ownership interest of at least 30% in the proposed business venture
- Meet the health and character requirements
Acceptable Business Activities:
- Commercialisation of a product or service in Australia; or
- Development of an enterprise or business in Australia
Eligible Funding Agreement*
To apply for the Entrepreneur Visa, the applicant will need to have an agreement for at least $200,000 in funding from one or more of the following sources:
- Commonwealth agencies
- State and territory governments
- registered as Venture Capital Limited Partnerships or Early-Stage Venture Capital Limited Partnerships
- Publicly funded research organisations
- Investors
*At least 10% of the funds must be deployed within 12 months of commencing the activity in Australia.
Visa Application Charges
First VAC
- Primary Applicant: $4,115 | Secondary Applicant – over 18 years: $2,060 | Additional applicant – under 18 years: $1,030
Second VAC
- A primary applicant over the age of 18 years assessed as not having functional English – $9,795
- Any other applicant over the age of 18 assessed as not having functional English – $4,890
