188E Entrepreneur Stream (Provisional)
Eligibility
• You must be undertaking, or proposing to undertake, a complying entrepreneur activity in Australia. You must have a genuine intention to continue this activity.(a) residential real estate
(b) labour hire
(c) purchase of an existing enterprise or a franchise in Australia
• Be under 55
888E Entrepreneur Stream (Permanent)
This visa lets you stay in Australia indefinitely. You can apply if you hold a Business Innovation and Investment (Provisional) visa (subclass 188} in the Entrepreneur stream. It lets you continue your entrepreneur activities in Australia.
Eligibility
• You (the primary applicant) must be the holder of a Business Innovation and Investment (Provisional) visa (subclass 188) in the Entrepreneur stream.Key success factors include:
(a) employing 2 or more Australians, permanent residents or other eligible persons
(b) generating an annual turnover of at least AUD300, 000
(c) filing a provisional patent or acquiring a standard or innovation patent
(d) receiving ongoing funding or investment in your entrepreneur activity
(e) entering into a partnership with a university
(f) selling an entrepreneurial venture for AUD2,000,000
Supporting success factors include:
(a) adapting your entrepreneurial activities into other business areas
(b) receiving a statement of success from a state or territory government nominator
(c) receiving sponsorship from the corporate sector
(d) starting at least 1 other business or contributing to at least 2 other businesses
(e) receiving formal awards or recognition
(f) raising or contributing to social capital
• You (the primary applicant) must have resided in Australia for at least 2 years of the 4 years* that you have held the provisional visa.
* During COVID-19 period, concessions apply for eligible applicants.
If meeting 888E requirement within 4 years, apply for 888E.