There are separate eligibility criteria at the DIBP and state level. We will outline the DIBP eligibility criteria and the criteria for the NSW State Government. We can advise you of the eligibility criteria for other states and territories should you be interested in migrating to a different state or territory.
Department of Immigration and Border Protection
To apply under this stream, you must:
- 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 (IELTS score of 6.0 on all four components of the test) 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.
Complying Entrepreneur Activity
Both the DIBP and the New South Wales State Government mandate that an applicant under the Entrepreneur stream have a business plan for a complying entrepreneurial activity. A Complying Entrepreneur Activity is an activity relating to an innovative idea that will lead to the:
- Commercialisation of a product or service in Australia
- Development of an enterprise or business in Australia
The Complying Entrepreneur Activity must not be related to the following excluded categories of products, services, enterprises or businesses:
- Residential real estate
- Labour hire
- The purchase of an existing enterprise or a franchise in Australia.
Your activity will be considered a Complying Entrepreneur Activity if it meets the following requirements:
You have one or more legally enforceable agreements to receive funding for a total of at least AUD$200 000 from one of the following:
- Commonwealth Government agency
- State or Territory Government
- Publicly Funded Research Organisation
- Investor registered as an Australian Venture Capital Limited Partnership or Early State Venture Capital Limited Partnership
- Specified Higher Education Provider
- Under the above mentioned agreement, at least 10% of the funding must be payable to the entrepreneurial entity within 12 months of the day your activity starts to be undertaken in Australia.
- You held at least a 30% 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.
NSW Government
The New South Wales State Government mandates that you must prove you have funds to settle in New South Wales. For this, you must be able to demonstrate that the net value of the business and personal assets is sufficient to support your settlement expenses in NSW.