Want to start a business in Australia? Here is everything you should know about star tup visa in Australia
The Australian government introduced the Business Innovation and Investment (Provisional) visa (subclass 188), Entrepreneur stream in a bid to boost the Australian economy. Many successful Australian start-ups have been founded by immigrants.
This is a temporary visa that allows individuals to set up companies in Australia and live in the country with their families for up to 5 years. After meeting certain requirements, they may also apply for permanent resident status through the Business Innovation and Investment (Permanent) visa (subclass 888) Entrepreneur stream.
Read: Types Of Australian Visa – The Only Guide You Need
Start Up Visa InAustralia – Eligibility
To be eligible for the Australian start up visa category, individuals must meet the following criteria:
- They must have an invitation to apply
- They must be nominated by either a territory or state government agency
- The applicant must be under the age of 55 years
- The applicant must have a genuine intention to start a business or commercialize a product/ service. This should not be related to labour hiring, r4eal estate or the purchase of an existing franchise or enterprise
- Applicants invited to apply on or after July 1, 2021, must be endorsed by a recognized body
- Applicants invited to apply before July 1, 2021 must receive funding from an approved entity
- The applicant must be fluent in English
- The applicant must be in good health
- The applicant must meet the Australian government’s character requirement
- The applicant must not be in debt to the Australian government
- The applicant must not have had a visa cancelled earlier or earlier application refused
Read: What Is The Cost Of Living In Australia For Immigrants And International Students?
How To Get An Invitation To Apply For A Start Up Visa InAustralia
The first step to receiving an invitation to apply for a start up visa in Australia is to submit an Expression of Interest on SkillSelect. The steps to be followed are:
- Create an account on SkillSelect
- Note the expression of Interest Identification Number allotted
- Log in with the identification number and password
- Select the visa type. More than one visa type may be selected
- Select the English language test type that has been cleared and enter the details requested such as date of examination, test scores, etc.
- Enter your educational details and qualifications
- Enter details about your skills and employment history
- Read through and give relevant declarations
- Download the expression of interest
If the expression of interest is accepted, the individual may be nominated by an Australian state or territory government agency.
Read: The Australian Citizenship Test – What to Expect
Documents Required To Apply For A Start Up Visa InAustralia
Documents are required to prove the individual’s identity, business and assets. These include:
- National identity card
- Proof of change of name if required
- Document giving an overview of the proposed entrepreneurial activity
- Evidence of ownership interest in the said business
- Funding agreement
- Business plan
- Proof of having functional English skills
- Health documents
- Form 80 Personal particulars for assessment including character assessment
- Form 1221 Additional personal particulars information
- Form 956A Appointment or withdrawal of an authorised recipient
- Form 956 Appointment of a registered migration agent, legal practitioner or exempt person
Documents for the primary applicant’s partner:
- Proof of identity
- Current marriage certificate
Or
Documents to prove a de facto relationship that has lasted for over 12 months before the date of application.
- Joint bank account statement
- Joint billing account
- Joint mortgage or lease
- Document showing that both individuals live at the same address
- Documents about previous relationships if applicable
- National Police Certificate issued by the Australian Federal Police if the applicant has spent over 12 months in Australia in the last 10 years
- Overseas police certificates from every country that the applicant has spent more than 12 months in during the last 10 years
- Military service/discharge records if applicable
Documents for dependents over the age of 18 years:
- Proof of identity
- National Police Certificate issued by the Australian Federal Police if the applicant has spent over 12 months in Australia in the last 10 years
- Overseas police certificates from every country that the applicant has spent more than 12 months in during the last 10 years
- Military service/discharge records if applicable
- Proof of dependency if the child is over the age of 23 years or dependent because of physical/ cognitive limitations
Documents for dependents under the age of 18 years:
- Copy of birth certificate/ adoption papers
- Form 1229 Consent form to grant an Australian visa to a child under the age of 18 years
Or
Statutory declaration giving consent for the child to enter Australia on this visa category
Read: How To Apply For Australia’s Global Talent Visa Program
How To Apply For An Australian Start Up Visa
Application may be submitted online in ImmiAccount. The invitation letter received will contain instructions on how to submit the application and documents.
After the primary applicant’s visa has been issued, applications may be submitted for other members of the family.
Australian Start Up Visa Application Fees
- Fee for the primary applicant: AUD 4,115
- Fee for an additional applicant over the age of 18 years: AUD 2,060
- Fee for an additional applicant under the age of 18 years: AUD 1,030
Applicants over the age of 18 years with less than functional English will have to pay an extra fee in the second installment.
- Second instalment fee for the primary applicant: AUD 9,795
- Second instalment fee for family members: AUD 4,890
Australian Start Up Visa Processing Time
There is no fixed time in which this visa application may be processed. The application processing can take anywhere between 3 and 7 months.
