The Australian Entrepreneur Visa is a type of visa that allows entrepreneurs with a successful track record of owning or managing businesses to live and work in Australia. This visa aims to attract talented and innovative individuals who are willing to establish a new business or develop an existing one in Australia.
The Entrepreneur Visa has two streams: the Entrepreneur stream and the Significant Entrepreneur stream. The Entrepreneur stream is designed for entrepreneurs who have a funding agreement from a third party for at least AUD 200,000 to undertake a complying entrepreneur activity in Australia. The Significant Entrepreneur stream is for entrepreneurs who are willing to invest at least AUD 5 million into a complying investment in Australia.
Validity and Financial Requirements
The Entrepreneur Visa is initially granted for four years, and it allows the visa holder to establish and manage a business in Australia. The visa holder must provide evidence of sufficient funds to support themselves and any accompanying family members for the duration of their stay in Australia. Additionally, the visa holder must demonstrate a genuine intention to continue to own and maintain an interest in the Australian business.
The Entrepreneur Visa holder is obligated to meet a range of obligations, including complying with Australian laws and regulations, maintaining a substantial ownership interest in the Australian business, and providing regular reports to the Australian government on the progress of the business. The visa holder is also required to reside in Australia for at least two years during the four-year visa period.
In conclusion, the Australian Entrepreneur Visa offers a unique opportunity for successful entrepreneurs to live and work in Australia. With its two streams and varying financial requirements, the Entrepreneur Visa is a great option for entrepreneurs who are willing to invest in and contribute to the Australian economy.