Australia’s Business Startup Visa: Key Requirements and Process

The Australia startup visa, officially known as the “Business Innovation and Investment (Provisional) Visa (Subclass 188), Entrepreneur Stream,” provides a unique opportunity for startup founders to establish and grow their businesses.

This visa is tailored for early-stage entrepreneurs with innovative ideas and the ambition to contribute to Australia’s thriving startup ecosystem. Beyond just a pathway to launch your business, it also opens doors to global markets and connections within Australia’s innovation hubs.

At Launchroad.io, we understand the complexities of the application process and are here to guide you every step of the way.

What Is the Business Innovation and Investment (Provisional) Visa (Subclass 188)?

The Business Innovation and Investment (Provisional) Visa (Subclass 188) is a unique pathway to attract innovative entrepreneurs to Australia. Among its various streams, the Entrepreneur Stream is tailored specifically for startup and early-stage entrepreneurs with compelling business ideas.

This visa enables founders to establish their ventures in Australia, particularly in innovation-driven sectors. 

Key Benefits of the Entrepreneur Stream

• Multiple entry privileges: Travel to and from Australia as often as needed during the visa’s validity.
• Stay for up to 5 years: Ample time to develop your business and establish connections in Australia.
• Cost: From AUD 6,570
• Pathway to permanent residency: Eligible applicants can transition to the Business Innovation and Investment (Permanent) Visa (Subclass 888) Entrepreneur Stream.

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Who Is Eligible for the Entrepreneur Stream?

The Entrepreneur Stream of the Startup Visa Australia is tailored for individuals ready to bring innovative ideas to life in one of the world’s most dynamic business environments. Here’s what you need to know about eligibility:

General Eligibility Requirements

To qualify for this business startup visa in Australia, applicants must:

• Be under 55 years old: Exceptions apply if the proposed entrepreneurial activity offers exceptional economic benefits.
• Submit an Expression of Interest (EOI): You must first express your intention to migrate through the EOI process and receive a nomination from an Australian State or Territory government agency.
• Meet basic requirements: These include:
  • English proficiency to ensure effective business communication.
  • Health and character standards to align with Australia’s immigration policies.

Entrepreneurial Activity Criteria

Applicants must demonstrate a clear plan for complying with entrepreneurial activity. This includes:

• Focusing on innovative ideas that lead to:
  • Commercialization of a product or service, or
  • Development of a business or enterprise in Australia.
• Prohibited activities include those related to:
  • Residential real estate
  • Labor hire
  • Purchasing existing businesses or franchises

Entrepreneurs must show genuine intent and a viable plan to contribute to Australia’s innovation ecosystem. For instance, startups in South Australia can leverage the South Australia startup visa pathway for tailored support and resources.

This stream is an excellent choice for visionaries aiming to make a meaningful impact while benefiting from Australia’s supportive entrepreneurial landscape.

How Does the Nomination and Endorsement Process Work?

Securing a Startup visa in Australia begins with a crucial step: obtaining nomination and endorsement from an Australian State or Territory government. This process ensures that your entrepreneurial venture aligns with the region’s economic priorities and innovation goals.

State and Territory Nomination

Australian States and Territories are key in the business startup visa Australia process. Here’s how it works:

• Submit an Expression of Interest (EOI) through the SkillSelect system.
• A State or Territory government agency evaluates your proposal and nominates you based on its potential to contribute to local economic growth.
• This nomination confirms the government’s support for your entrepreneurial activity, a prerequisite for visa application.

Focus on the South Australia Startup Visa Initiative

South Australia is emerging as a prime destination for innovative entrepreneurs. The South Australia startup visa pathway offers tailored support for startups seeking a foothold in the region. Key highlights include:

• Strategic Industries: South Australia actively supports startups in industries such as renewable energy, agtech, and advanced manufacturing, creating opportunities for collaboration and long-term success.
• Entrepreneurial Support Programs: South Australia provides access to incubators, accelerators, and innovation hubs that help startups refine their business models and connect with investors.
• Startup-Friendly Policies: The state offers resources such as grants, mentoring, and co-working spaces designed to foster growth and innovation.

Application Process for the Australian Startup Visa

Step 1: Before You Apply

1. Submit an Expression of Interest (EOI):
   
   • Submit your EOI via SkillSelect, detailing your skills, qualifications, and investment experience.
   • Indicate the states or territories where you are interested in investing.
   • An EOI is not a visa application but allows you to be invited to apply.
2. Get Help With Your EOI:
   
   • You can use a registered migration agent or legal practitioner to help you submit your EOI. Find assistance through the “Who can help you with your application” page.
3. Check Eligibility:
   
   • Ensure you meet all the visa criteria.
   • Each nominating state or territory assesses your EOI based on its specific requirements (e.g., Australian Capital Territory, Victoria, etc.).
4. Gather Required Documents:
   
   • Before submitting your EOI, collect documents that prove your claims and support eligibility (e.g., identity, business activity, English proficiency, etc.).
5. Submit Your EOI:
   
   • Submit your EOI through SkillSelect online.
   • You will receive a confirmation email once the submission is successful.
6. Stay Lawful:
   
   • An EOI does not guarantee a visa or bridging visa. Ensure you maintain a valid immigration status while waiting for an invitation.
7. After Submission:
   
   • If nominated by a state or territory, you may receive an invitation to apply for the visa.
   • You can change your EOI in SkillSelect if circumstances change, but not after receiving an invitation.

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Step 2: Gather Your Documents

1. Identity Documents:
   
   • Provide color copies of your passport, national identity card (if applicable), and any name change documents.
2. Entrepreneur Documents:
   
   • Submit details of your proposed complying entrepreneur activity in Australia.
   • Ensure the activity is innovative and leads to commercialization or business development.
3. English Language Proof:
   
   • Provide evidence of competent English skills.
   • Family members over 18 must also provide proof of functional English.
   • If not meeting the requirement, indicate your intention to pay the additional visa charge.
4. Health and Character Documents:
   
   • Complete Form 80 and Form 1221 for character assessment.
   • Submit police certificates from Australia and any country you have lived in for 12 months in the past 10 years.
5. Partner and Dependant Documents:
   
   • Provide identity, character, and relationship documents for your partner and dependents.
6. Prepare Translations:
   
   • All non-English documents must be translated into English by an accredited translator.
7. Organize and Scan Documents:
   
   • Ensure scanned or photographed documents are clear, including original and translated ones.

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Step 3: Apply for the Visa

1. Apply Online:
   
   • Once invited to apply, submit your visa application through ImmiAccount.
   • Upload all supporting documentation in line with the provided naming conventions.
2. Provide Accurate Information:
   
   • Be truthful and submit the correct details to avoid any complications with your application.
3. Pay the Application Charge:
   
   • Pay the visa application charge via ImmiAccount after submission.

Step 4: After You Apply

1. Wait for Status Updates:
   
   • You will be contacted if further information is required. No updates will be provided unless needed.
2. Travel While Processing:
   
   • You can travel outside Australia while your application is processed, but ensure your visa allows re-entry.
3. Provide Additional Documents:
   
   • If requested, send additional documents promptly to the designated address.
4. Stay Lawful in Australia:
   
   • If you are in Australia, ensure you have a valid visa when applying for a visa.
5. Biometrics and Health Exams:
   
   • You may be asked to provide biometrics (fingerprints and photos) or health examinations.
6. Family Member Updates:
   
   • You can add dependent children or a spouse to your application before making a decision.

Step 5: Visa Outcome

1. Visa Grant:
   
   • If granted, you will receive your visa grant number, start date, and conditions.
   • Keep the decision notice with you while in Australia.
2. Visa Refusal:
   
   • If refused, the reasons for refusal and review rights will be provided.
   • The application charge is non-refundable if your visa is refused.

📌 Useful Link: immi.homeaffairs.gov.au 👈

Benefits of the Business Startup Visa in Australia

The Business Startup Visa Australia offers numerous benefits for entrepreneurs looking to start or expand their business in Australia:

• Access to Innovation Hubs and Incubators: Australia is home to several innovation hubs and business incubators, providing a rich environment for startups to thrive. These resources support entrepreneurs by offering mentorship, networking opportunities, and guidance on how to grow your business successfully.
  
• Networking with Venture Capitalists and Industry Leaders: As a South Australia startup visa holder, you’ll have opportunities to connect with venture capitalists, investors, and industry leaders who can help take your business to the next level. These connections are invaluable for securing funding, forming partnerships, and gaining industry insights.
  
• High Quality of Life and Business-Friendly Policies: Australia boasts a high standard of living with a great work-life balance. The country’s business-friendly policies make starting and running a company easier, offering a stable economy, a skilled workforce, and access to global markets.

📌 Must Read: Top 9 Countries for Startup Visas: A Guide for Entrepreneurs 👈

Cost of the Startup Visa Australia

The Startup visa Australia (Subclass 188 – Entrepreneur Stream) has the following costs:

1. Primary Applicant:
   
   • Visa application fee: AUD 6,570
2. Additional Applicants:
   
   • Over 18 years old: AUD 3,285
   • Under 18 years old: AUD 1,640
3. Second Instalment (for applicants with less than functional English):
   
   • Primary applicant: AUD 9,795
   • Family members: AUD 4,890
   • This charge is only required if requested after the initial visa application and is refundable if the visa is not granted.
4. Other Costs:
   
   • Applicants may also need to pay for additional expenses, such as health checks, police certificates, and biometrics, which are not included in the above charges.

Transitioning to Permanent Residency with the Startup Visa Australia

Once you’ve established your business under the Business Startup Visa Australia, you may be eligible to apply for permanent residency through the Subclass 888 Entrepreneur Stream. Here’s what you need to know:

Requirements to Apply for Subclass 888 Entrepreneur Stream

To transition to permanent residency, your business must meet certain success criteria, including:

• Turnover: Your business should demonstrate steady financial growth, typically meeting the required turnover thresholds.
• Job Creation: Show that your business has contributed to job creation within the local economy.
• External Endorsements: You may need endorsements or recommendations from industry bodies or business mentors to highlight your business’s success and potential.

Benefits of Permanent Residency

Obtaining permanent residency in Australia offers several advantages, including:

• Unlimited Business Operations: With permanent residency, you can run your business without any restrictions, expanding and diversifying as needed.
• Full Integration into the Australian Economy: Enjoy the benefits of fully integrating into the local economy, including access to the healthcare system, education, and a range of social services.

Common Challenges and Solutions with the Startup Visa Australia

Applying for a Startup Visa Australia can come with challenges, but understanding them ahead of time can help you navigate the process more effectively. Here are some common issues applicants face and how you can overcome them:

Issues Applicants May Face

• Securing State or Territory Nomination: One of the first hurdles is securing a nomination from a state or territory like South Australia. Each state has its own criteria and preferences for business sectors, so aligning your startup idea with these requirements is important.
• Meeting Funding or Endorsement Requirements: Applicants must demonstrate sufficient funding or get the right endorsements from recognized investors, incubators, or business accelerators. Securing this support can be competitive and requires a solid business plan.

Role of Launchroad in The Seccess of Your Startup Visa

LaunchRoad is your trusted partner for starting a business abroad. We guide you in choosing the right country, understanding visa requirements, and getting your startup off the ground. As an experienced startup visa consultant, we offer expert startup visa consultation to help you navigate the complexities of international expansion. Our team provides the support, mentorship, and resources you need to succeed in the global market.