Complete Guide to Australia's Entrepreneur Visa in 2025 for UK startups

Starting from the ground up in a new market is always a bold move, but if there's a place to do it, it's Australia, thanks to its thriving economy and flourishing industries. With the Entrepreneur Visa, Australia welcomes business-minded individuals from the UK and beyond who would like to put their two cents in. Here's everything you need to know about the process, from eligibility to the application itself.

Handling international financial transactions is an important consideration for brand-new businesses trying to find a path to steady growth. For this task, a Wise Business account offers a smart payment solution. It grants access to 40+ currencies and the possibility to manage payments in 140+ countries, no hidden fees included. For a UK startup expanding operations in Australia, it's the perfect solution for managing transactions across the border.

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What is the Australia Entrepreneur Visa?

The Entrepreneur Stream is a type of Business Innovation and Investment visa, also known as the Subclass 188. It's designed specifically for early-stage entrepreneurs and startups that can contribute to the Australian economy. This is a provisional visa, allowing you to stay in Australia for five years, but it can be a pathway to acquiring permanent residency. However, as of July 2024, the Entrepreneur Stream has been closed to applications¹.

Types of visas available

Those who already hold the Subclass 188 visa, or have made their application before the 31st of July 2024 and received it, are eligible for the Subclass 888². This is a permanent visa in the Business Innovation and Investment Program (BIIP). With it, you can operate your business startup, make investments, and even apply for permanent residency in Australia.
There are also other types of visas that can serve as a promising pathway to establishing a lucrative professional journey in Australia, namely the National Innovation visa (Subclass 858) and the Business Talent visa (Subclass 132)³. The former is designed for highly skilled individuals in target sectors such as tech, while the latter is for experienced business owners looking to develop an enterprise in Australia. However, applications for these programs are also currently put on hold.

Eligibility requirements for the Australian Startup Visa

When it comes to the Subclass 188, the Entrepreneur Stream in the BIIP, there are specific requirements⁴ that you'll need to meet, as with any other type of visa out there. Above all else, you'll need a solid entrepreneurial concept and the backing to make it work in Australia. Below, we've outlined the key eligibility criteria:

• Under 55 years of age
• Competent in English
• A minimum of 65/100 points determined by age, language proficiency, and size of the business
• Meeting health requirements, including undergoing all the specified examinations⁵
• An accepted Expression of Interest (EOI) by an Australian State or Territory government agency
• A nomination and endorsement from an Australian State or Territory government agency
• A promising startup plan leading to the commercialisation of a service or product, or the development of an enterprise in Australia
• A signed Australian Values Statement
• Sufficient net business and personal assets of over AU$1,250,000
• No previously cancelled or refused visa application

Benefits of securing an Entrepreneur Visa in Australia

The process of getting an Australian Entrepreneur Visa can be long and complicated, but there are numerous reasons why it's well worth the trouble. Here are some of the benefits you can take advantage of:

• You get the opportunity to apply for permanent residency, as well as bring family members with you
• The Australian economy is stable and thriving, which means it's the perfect, low-risk ground for starting a business and expanding it internationally
• Many industries are experiencing significant growth, including the finance, healthcare, and agriculture sectors
• The startup scene is flourishing, especially in Melbourne and Sydney, with many strict laws and regulations designed to protect these early-stage enterprises
• There is a strong emphasis on innovation in science and clinical medicine, which makes Australia very popular among entrepreneurs and international investors

How to apply for the Australian Entrepreneur Visa, step-by-step

Applying for the Subclass 188 Entrepreneur Stream is a complex, structured process that requires careful preparation and official backing. The whole ordeal can cost you around AU$6,765 for one applicant. As for the processing time, 90% of applications are processed in about 8 months⁶, but the actual timeline also varies depending on other factors such as background checks. As we've already mentioned, the Department of Home Affairs is still processing applications made before July 2024.

Step 1 – Submit your Expression of Interest (EOI)

Before you apply for the visa itself, you will first need to submit your Expression of Interest (EOI) via SkillSelect, free of charge. The EOI tells the authorities about your skills, qualifications, and plans, and if it's found that you're eligible for the Subclass 188 and you get nominated by a State or Territory government agency, you'll get invited to apply for the visa. Each nominator has its own criteria, so make sure to do your research depending on where you'd like to submit your EOI.

Here are the options:

• Australian Capital Territory
• Northern Territory
• Queensland
• New South Wales
• South Australia
• Victoria
• Tasmania
• Western Australia

If your EOI gets approved, followed by an invitation to apply for the Subclass 188, you will need to provide documents as proof of all the claims you've made and of your eligibility for the visa itself. Therefore, it's best to have these documents ready before you even submit your EOI. Remember, this is only the first part of your application, and receiving an invitation doesn't mean you'll get the visa. If two years have passed with no correspondence, the EOI automatically expires, and you'll be notified once it does⁷.

Step 2 – Gather the required documents

If you get an invitation to apply for the Subclass 188, you will have 60 calendar days to do it, so it's best to start gathering the documents as soon as possible, preferably around the time you submit your EOI. There are a lot of documents you'll need to submit, for both you and the family members applying with you, including the following:

• Colour copies of your current passport
• National identity card
• A marriage certificate and other change of name documents
• Documents outlining your proposed entrepreneurial activities, including the business plan and funding agreement
• English competency documents
• Filled forms 80 and 1221 for character assessment
• An Australian police certificate for those who have been in the country previously
• A police certificate from every country you have spent more than a year in

Step 3 – Submit your visa application

Applying for the Subclass 188 is done online via ImmiAccount⁸, and your invitation letter will contain instructions on how to go through this process. Obviously, you should provide accurate information on all the uploaded documents, as well as pay the application charge and note the transaction reference number (TRN).

Step 4 – Submit additional information if needed

You will be informed when the visa application is received, but there will be no further status updates on it. However, you will be contacted if any additional information is needed, including health exams, biometrics, and supporting documents. Also, if there are any changes to your address, phone number, passport, marital status, or such, make sure to notify the Department of Home Affairs via the email address you received during the application process.

Step 5 – Get your Entrepreneur Visa

The decision about your visa application will be sent to you in writing, along with the visa grant number, the date it starts, and the associated conditions. You will need to print out a copy of this decision and bring it with you when you come to Australia. If refused, you will be provided with the reasons behind this decision.

Tips for starting a business in Australia

To make a smooth transition into Australia's thriving startup ecosystem, you'll need to take time to understand the local market dynamics, as well as specific customer preferences. There are numerous business support programs available, so do your research to find the right mentorship and resources that can help you further your entrepreneurial journey. There are also government-backed initiatives, such as Startup Aus and Austrade's Landing Pad program, that can help you scale your business and put it on a global map.

As you start building your startup, one of the first steps you'll need to take is to open a business bank account. This will allow you to receive investments, manage taxes and other expenses, as well as keep your finances compliant with local regulations. Setting up a Wise Business account can be a great option to manage cross-currency transactions and get things moving right away, ahead of your move.
For your relocation, it may be a smart move to hire a local business advisor or accountant to ensure you keep your finances compliant with regulations in Australia.

Grow your startup in Australia with a Wise Business Account

Wise Business can help you get started almost immediately, allowing you to transfer money to suppliers, pay distributed staff and receive payments from abroad from the jump. This may be particularly useful as opening a local Australian bank account may be time-consuming or restricted for newcomers.
When you're starting a business across borders, Wise Business is built to take the hassle out of managing money internationally.

You'll get:

• No monthly fees or hidden costs
• International payments at the real exchange rate
• Seamless integration with accounting software
• Multi-currency support, ideal for handling funds in USD, GBP, EUR, and 40+ currencies
• Local account details in major currencies
• Hold and convert over 40 currencies in one place

Launching a business in Australia comes with exciting opportunities. With the right tools, it's easier to get going than you might expect.

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Sources last checked: 25-July-2025