Business Innovation Visa 188
 

Hi Everyone, I thought this may be the best place to bring my query, curious to see if anyone may be able to help?
I currently hold a WHV 417, however I have just received funding from a UK entity which will enable me to submit a EOI to apply for the business innovation visa 188.
The 188 visa allows 4 years in the country to start a business which is what my final intentions would be. I would've considered getting my 2nd year visa however I am not in a position where I can afford to lose 3 months doing agriculture work as my time is mainly invested in business start up.

Would anyone possibly know if I am able to apply for visa 188 on a WVH in Australia? Also if anyone had any more knowledge about visa 188 itself?
Any kind of info at this stage would be great, thanks everyone!
Rob

Re: Business Innovation Visa 188
 

Which stream were you looking at?

All the initial info is here. http://www.border.gov.au/Trav/Visa-1/188-

Check the detail and get back with any other questions. As long as your current visa does not have a no further stay condition attached you can apply for another visa whilst in Australia. If you lodge a valid application before your current visa expires, you will be granted a bridging visa which will come into effect when your current visa ends. This will allow you stay in Australia until the new visa is granted ( this could take many months). Bridging visas usually carry the same conditions as you previous visa.

you should run your plans by an agent experienced in business visas.

Re: Business Innovation Visa 188
 

Thanks for the reply.

It would be the entrepreneur stream that I'd be applying for. I have looked at the link you sent many many times now & it has given me a clearer picture, however there are a couple of issues I am still left uncertain of.
1- it says funding must be from one of the following entities
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

My funding is from a 3rd party based in the UK, so none of the above. Will this prevent me from attaining this visa?
One also assumes there isn't a no further stay condition associated with the 417 visa due to its nature.

Another thought I was having was to possibly apply for the 188 visa now, even though I have about 10 months left on my WHV but I was unsure as to what would happen with my current visa? Would the 188 start at the end of my current visa if granted? Do they chose a date the 188 would start from? Would it then void my WHV?

Would you happen to know a credible agent experienced in business visas?

I really appreciate your time in helping me on this venture, any more information you may poses would be greatly appreciated & well received! Thanks again,
Rob

Re: Business Innovation Visa 188
 

Check the conditions on the grant notice of your WHV, it almost certainly won't have a 'No Further Stay ' clause, but don't assume it, check it.

If you apply whilst your WHV is still current, and the visa is granted whilst its still current, then it will supercede the WHV at once - at the moment of grant.

Re: Business Innovation Visa 188
 

Alan Collett of GoMatilda. He's a migration agent who's also an accountant. His company has a good reputation and he's a genuinely nice guy. Offices in both UK and Australia.

Re: Business Innovation Visa 188
 

Hi Rob.

For the business innovation stream of subclass 188 you must have a successful business history.

The entrepreneur stream isn't suitable for those with private funding.

From what you have said thus far a subclass 188 visa isn't going to be a goer for you.

A subclass 457 temporary residency visa is possibly an option, but the April changes mean the pathway to permanent residency is much less certain.

Best regards.

Re: Business Innovation Visa 188
 

Thanks for the reply Alan. Where does the money need to come from on the entrepreneur stream if not from a third party? Ive seen on ausgov that it has to be from -
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

However I do not know much about any of these entities, nor how to go about receiving funding from any of these parties.
Thanks again, I appreciate your time,
Regards,
Rob

Re: Business Innovation Visa 188
 

Hi Rob.

As I say, the entrepreneur stream isn't suitable for those with private funding, unless the firm that is funding you is a registered VC company.

You may need to instruct a suitable advisor to explore your business intentions and the prospects for funding through an approved body.

Best regards.