Subclass 188 E / 888 E Entrepreneur Visa
The entrepreneur stream of the subclass 188 / 888 business innovation and investment visa (188E visa / 888E visa) is a permanent residency visa pathway involving a four-year provisional residency visa. The entrepreneur visa is aimed at entrepreneurs who have secured ≥AUD 200k in funding support for their business from a combination of venture capital investment, government grants and/or collaboration agreements with universities. Applicants must own at least 30% of their business when the funding agreement(s) providing the ≥AUD 200k are signed and have what is termed “Competent English" (IELTS 6 in all four bands) language skills. Grant of permanent residency to a provisional entrepreneur visa holder requires that the his or her business demonstrates certain "key success factors" and "supporting success factors” selected from such things as employing at least two Australians, having annual revenue of at least AUD 300k, filing patents, securing ongoing funding and entering a partnership with a university. Any venture capital funding provided to an entrepreneur visa holder must be provided from either a registered venture capital limited partnership (VCLP) or a registered early-stage venture capital limited partnership (ESVCLP). More detail regarding the 188E entrepreneur visa and 888E visa requirements is provided in this table.
Building on our experience with the 132B venture capital entrepreneur visa stream, Southmore can assist applicants in the new 188E visa stream with further developing their innovative and entrepreneurial ideas and with providing the venture capital funding required to establish and expand operating businesses in Australia based on the jointly refined and elaborated ideas. Southmore has managed a compliant venture capital limited partnership (VCLP) since 2006.
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