· be under 55 years of age, although a state or territory can waive this requirement if your proposed complying entrepreneur activity will be of exceptional economic benefit to the nominating state or territory
· have competent English and be able to provide evidence of this at the time you are invited to apply for the visa
· be undertaking or proposing to undertake a complying entrepreneur activity in Australia and have a genuine intention to continue this activity
A Complying Entrepreneur Activity is an activity that relates to an innovative idea that will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
This activity must not relate to any of the following excluded categories:
· Residential real estate
· Labour hire
· Purchase of an existing enterprise or a franchise in Australia.
An activity is a complying entrepreneur activity if all of the following requirements are met:
· you have one or more legally enforceable agreements to receive funding with a total of at least AUD200 000 from one of the following entitites:
o Commonwealth Government agency
o State or Territory Government
o Publicly Funded Research Organisation
o Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
o Specified Higher Education Provider
· under the agreement at least 10 per cent of the funding must be payable to the entrepreneurial entity within 12 months of the day the activity starts to be undertaken in Australia;
· You held at least 30 per cent interest in your entrepreneurial entity when you entered into the agreement.
· You have a business plan for the entrepreneurial entity noting how your innovative idea will lead to the commercialisation of a product or service in Australia, or the development of an enterprise or business in Australia.
For a nomination for the Entrepreneur stream of the 188 Provisional visa, South Australia requires you to:
- Meet all criteria outlined by the Department of Immigration and Border Protection (DIBP)
- Provide the business plan that will be presented to DIBP as part of the state nomination application.
– Therefore, this should be the final intended version and not a draft or incomplete business plan.
– There should be evidence that the complying entrepreneur activity is, or will be, of economic benefit to South Australia.
- Provide a statement outlining how you intend to maintain an ongoing relationship with the South Australian Government and with South Australia in general during the period of your subclass 188 visa.
- Show sufficient net business and personal assets either alone, or together with a spouse/de facto partner, to support your settlement in South Australia.
– This requires the same financial capacity required for South Australian general skilled migration (GSM) state nomination. See no.7, “Financial Capacity” under the GSM skilled state nomination requirements.
– For Australian international graduates, it is permissible to claim financial support from your parent(s), who will need to complete a Financial Capacity Declaration.
For the South Australian Government to maintain its support ahead of the potential permanent visa available via the subclass 888, we would ask successful visa applicants to:
- meet with Immigration SA within two months of arrival (or visa grant if an onshore applicant).
- meet with Immigration SA at least every 12 months during the course of the 188 visa. The purpose of these meetings are for the visa holder to outline their progress, and to learn where the South Australian Government may be able to assist with advice.
- have their principal place of residence in South Australia.
- have the primary physical location of their business (if applicable) in South Australia, noting that entrepreneurial activity may extend across interstate borders and internationally.