SPECIFICATION OF ACTIVITIES 2016/075 (Paragraph 5.19E(6)(a))
Key Words: 5.19E(2)(b),188,888,188E,investor
- Instrument IMMI 16/075 is made under paragraph 5.19E(6)(a) of Division 5.3 of Part 5 of the Migration Regulations 1994 (the Regulations).
- Regulation 5.19E prescribes the requirements of a “complying entrepreneurial activity” for an applicant seeking to satisfy the primary criteria for a Subclass 188 (Business Innovation and Investment (Provisional)) visa in the Entrepreneur stream or a Subclass 888 (Business Innovation and Investment (Permanent)) visa in the Entrepreneur stream. The “complying entrepreneurial activity” must relate to an innovative idea that is proposed to lead to the commercialisation of a product or service in Australia or the development of an enterprise or business in Australia, but must not relate to specified activities. This Instrument specifies those excluded activities.
- The Instrument specifies, under paragraph 5.19E(6)(a) for the purposes of paragraph 5.19E(2)(b), a range of investment activities relating to: labour hire entities; residential real property; and existing entities (including franchises). These activities relate to passive areas of the economy that already attract significant capital flows. Excluding these areas encourages investment in emerging enterprises, the creation of new jobs and promotion of local commercialisation of innovative research and development.