Entrepreneur Visa Australia

Entreprenuer Visa Australia

The Australian Government introduced an Entrepreneur Visa in September 2016, adding it to the suite of existing Business Migration and Investor Visas.

The visa is for people who are able to undertake a complying entrepreneur activity in Australia in conjunction with an acceptable partner listed below. It is in some ways a smaller version of the Venture Capital Entrepreneur Visa. This visa provides a pathway to permanent residence.

Conceivably bright international students in Australia researching in innovative, science, engineering, and technological industries may be eligible if they can find eligible partners who could assist with funding for the entrepreneur activity.

Who is eligible for the entrepreneur visa to Australia?

Applicants have to be less than 55 years old, and must be nominated by a State or Territory Government. This requirement can be waived by the nominating government if the proposed activity “is or will be of exceptional economic benefit” to the nominating government.

Unlike the other Business Innovation & Investment visas, the applicant must have Competent English (equivalent to IELTS 6).

And the applicant must undertake, or propose to undertake, a complying entrepreneur activity in Australia, and has a genuine intention to continue this activity.

Furthermore, the nominating government must be satisfied that the net value of the business and personal assets of the applicant is sufficient to allow them to settle in Australia. This net value may vary depending on the nominating government.

The criteria also include the mandatory elements of the entrepreneur activity listed below.
Unlike the Business Innovation (subclass 188a) Visa and the Investor (Subclass 188b) Visa, this Entrepreneur Visa is not subject to the Points Test.

What is Complying Entrepreneur Activity?

A Complying Entrepreneur Activity is an activity that relates to an innovative idea that will lead to either the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.

The applicant will need to find a Partner with whom it will have a funding agreement of at least AUD$200,000 to undertake the complying entrepreneur activity. This Partner can be one of the following entities:

• Commonwealth Government agency;
• State or Territory Government;
• Publicly Funded Research or Innovation Organisation;
• Investor registered as an Australian Venture Capital Limited Partnership or Early Stage Venture Capital Limited Partnership; and
• Higher Education Provider.
The entrepreneur activity must comprise the following elements:
• There is one or more legally enforceable agreements to provide funding for at least AUD$200 000 for the entrepreneur activity;
• At least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months from the day the activity commences in Australia;
• The applicant holds at least 30 per cent interest in the entrepreneurial entity;
• There is a business plan for the entrepreneurial entity showing how the innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
What are my obligations for the entrepreneur visa?

It is expected that the Entrepreneur Activity will maintain an ongoing relationship with the nominating State or Territory government; and the funding party must pay the entrepreneurial entity, as described above, at least 10 per cent of AUD$200,000 within 12 months from the day the entrepreneurial activity in Australia commences.
Contact

If you are interested in the Entrepreneur Visa for Australia please contact migration lawyer Peter Kuek-Kong Lee of Rostron Carlyle Rojas Lawyers on (07) 3009 8444, or email: [email protected]

RCR Lawyers co-host an Investment and Business Migration seminar in Ho Chi Minh City, Vietnam

On May 4, 2019, Rostron Carlyle Rojas Lawyers were the co-hosts of an Investment and business migration seminar in Ho Chi Minh City, Vietnam.

The partnership between RCR Law, TP Immigration, Investment, and Consultancy attracted Vietnamese business people from near and far and was a great success for all involved.

Presenters included our Founding Partner Greg Rostron and Special Counsel Peter Kuek-Kong Lee. Alongside, Greg McKean, Manager at Business and Skilled Migration QLD, Australia and Brendan Goulding, Director in International Services at Bentleys QLD, our very own Peter Kuek-Kong Lee presented on visa options for businessmen and women looking to bring their business and investment to Australia.

New Global Talent Scheme Pilot

Migration Lawyers

In March 2018, the Australian Government announced a new visa scheme, the Global Talent Scheme Pilot, targeted at highly skilled global talent. The trial of this new visa scheme will commence on 1 July 2018 and last for 12 months.

The purpose of the Global Talent Scheme is to recognize global talent in high demand for the benefit of Australian workers and Australian businesses. It will allow eligible Australian businesses to sponsor highly skilled overseas applicants for up to 4 years on the existing Temporary Skill Shortage (TSS) Visa.

The scheme comes at a time of large cuts to the occupations available under Australia’s skilled migration program. It is a proposed solution to address skill shortages in Australia, particularly in the Innovation sector, where many evolving tech-based job positions do not fit in the strict occupation moulds of the current Skilled Occupation Lists.

The new visa scheme will involve two streams: the Established Business Stream and the Start-up Stream.

The Established Business Stream

This stream is available to Australian employers who are publicly listed or have an annual turnover of more than $4 million.

The Australian business will need to meet the following key requirements:

1. That their recruitment policy provides first preference to Australian workers;
2. That they have tried to find an Australian to fill the role;
3. That the position will have minimum annual earnings of $180,000; and
4. That the sponsorship will result in a skills transfer to Australian workers.

This stream will allow businesses to nominate up to 20 positions per year.

The Start-up Stream

The Start-up steam is aimed at newly-established companies in STEM-related fields (science, technology, engineering, and math).

The stream will require businesses to show the following:

1. That their recruitment policy provides first preference to Australian workers;
2. That they have tried to find an Australian to fill the role;
3. That the position will provide for the market salary rate for the position (at least $53,900);
4. That a ‘start-up authority’ has endorsed the business; and
5. That the sponsorship will result in a skills transfer to Australian workers.

Start-ups will be able to sponsor up to 5 positions per year.

There will also be other visa criteria related to the visa application, such as health and character checks.

Applicants under both streams will have access to a 4-year TSS visa, with a transitional pathway to permanent residence after 3 years, if the applicant is eligible.

The Global Talent Scheme Pilot initiative is a step toward a more innovative and skilled Australian workforce. However, the practicality of the requirements is yet to be tested. Whether the scheme will appropriately address skill shortage concerns is yet to be seen, but we expect further refinements will continue to be made once it commences.

Shanalee Hayer, Rostron Carlyle Rojas Lawyers

Paralegal

Rostron Carlyle Rojas Lawyers migration team can provide advice to Australian businesses in need of overseas skilled workers.  Contact us for a consultation today:

Peter Kuek-Kong Lee, Special Counsel and Registered Migration Agent MARN 0427478

[email protected]

Anna Gunning-Stevenson, Lawyer and Registered Migration Agent MARN 1797244

[email protected]

(07) 3009 8444