NSW – Entrepreneur visa update

The Entrepreneur visa is part of the Business Innovation and Investment (Provisional) visa (subclass 188) and was launched by the Australian Government on 10 September 2016. This visa is for individuals who have secured funding of at least A$200,000 from an eligible third party funding body or bodies to undertake, or propose to undertake, an entrepreneurial venture in Australia.
To apply for NSW nomination for the Entrepreneur visa , you should follow the process below:

  • submit an Expression of Interest (EOI) in SkillSelect
  • complete the relevant NSW nomination application form
  • pay the application fee
  • submit your complete application to NSW Department of Industry.
  • if you are nominated by NSW, apply for the visa to DIBP.

To be eligible to be nominated by the NSW Department of Industry for the Business Innovation and Investment (Provisional) visa (subclass 188) – Entrepreneur stream, applicants must:

  • meet Department of Immigration and Border Protection (DIBP) eligibility criteria
  • submit a business plan for complying entrepreneurial activity
  • demonstrate sufficient funds to settle in NSW.

Visa nomination by a state or territory government is required before interested applicants can lodge a valid application for this visa with DIBP. An Entrepreneur visa holder can progress to permanent residency after four years if they can meet a measure of success, which includes factors such as business turnover, employment of Australians and ability to obtain ongoing financial backing.

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