Since Sept. 10, 2016, a new visa category has been added to Australia's 188 visa series-the 188E Venture Entrepreneurship Visa (Entrepreneur Stream). 188E visa has attracted the attention of investors as soon as it is launched.
The existing 188 visa sequence has four categories of ABCD
(A (Innovative Stream, innovative immigrants, requiring a net worth of eight hundred thousand Australian dollars);
(B (Investor Stream, investors emigrated, requiring 1.5 million Australian dollars in investment);
(C (Significant Investor Stream, major investors emigrate, requiring 5 million Australian dollars (Australian dollars);
D (Premium Investor Stream, investors emigrated, demanding 15 million Australian dollars (Australian dollars).
The new 188E visa category allows entrepreneurs with third-party investments of more than two hundred thousand Australian dollars to develop and commercialize their innovative products in Australia, and holders of entrepreneurial visas can then apply for permanent residence in Australia. However, with an innovative attitude, not all businesses are eligible for 188E visas. According to the latest information released by the Australian Immigration Service, businesses that are unable to obtain 188 E visas include:
Employment of workers;
Residential real estate development business;
Buy, invest, or take a stake in established business, including (sensitive words blocked) business.
In addition, the 188 E visa requires applicants to obtain at least two hundred thousand Australian dollars from designated investors in their business start-up business.
According to the latest information released by the Australian Immigration Service, the designated investors include:
An agency of the Commonwealth, state or territory of Australia;
A publicly funded research institution or innovation program established under the laws of the Commonwealth, State or Territory of Australia;
Investors registered with Australian venture capital limited partner agency (VentureCapital Limited Partnerships, (VCLP),) or early stage venture capital limited partner agency (Early Stage VentureCapital Limited Partnerships, (ESVCLP);
A higher education institution that meets the requirements.
Judging from the above policy provisions, the Australian Immigration Board hopes that the applicant will really start a business from scratch rather than buy any off-the-shelf business. At the same time, due to the huge turnover of real estate and human rental companies, and the huge amount of investment, It is easy to meet subsequent 888 approval requirements and is therefore excluded from permitted industries. In addition, because of the similarity between 188 E and 188 A, the author makes a specific comparison and analysis between the 188 A business innovation investment immigration visa and the new 188 E start-up entrepreneur visa, and helps interested investors to make appropriate choices according to their own situation.
After obtaining a 188A or 188E residency visa, the applicant applies for a 888A or 888E permanent residence visa after he or she is required to carry on business locally in Australia and meet the corresponding requirements.
Combined with the above tables, we can see that the new 188E visa for entrepreneurial investment immigration has both obvious advantages and disadvantages. Specifically, the 188E visa has no requirement for the applicant's successful business background, assets and qualifications, and does not require a rating, which is undoubtedly the main advantage of the visa.
Because it is often difficult to meet a 65-point scoring requirement for a number of 188 A business innovation visa applicants whose business turnover has just met 500000 Australian dollars, which means that the applicant needs to meet higher asset requirements. Second, during the transfer of the 888E permanent residence visa phase, immigration and state governments currently have no hard targets for turnover, personal capital investment, and employment for the startup business. Entrepreneurial visas are more flexible than 188A/888A visa for investment immigrants. Of course, 188E/888E entrepreneurial visa also has some disadvantages.
First, a Class 188 E visa requires applicants to have IELTS 4 6 or the same level of English.
Second, the venture requires at least 200000 Australian dollars from designated investors and limits the investment industry. Start-up business must be innovative, excluding traditional business types that include real estate, labor employment, and joining chains.
Thirdly, in the permanent residence visa phase, the 888E visa requires the applicant to carry on business in China for more than four years, while the 888A visa only requires the applicant to continue the business within the territory for a period of two years.
In fact, the new 188E/888E Venture Entrepreneurship Visa introduced by the Australian Immigration Service is essentially similar to the Venture Capital Entrepreneurship visa, but the category 132 visa not only requires the applicant to have an overall successful business background, It is also required to have access to at least A $1 million in venture capital from members of the Australian venture capital association (AVCAL). On the other hand, 188E visa not only requires no business background, but also reduces the amount of investment. To sum up, the 188E/888E Venture Entrepreneurship Visa is suitable for outstanding talents who have a certain level of English and hope to commercialize their innovative ideas while remaining in Australia. The introduction of the visa fully demonstrates the determination and motivation of the Australian federal and state / territorial governments to encourage innovative ideas and skills to come to Australia to live and settle down.
