Venture Capital Entrepreneur Stream, visa subclass 132B, is for people who have tracked venture capital to fund the start up or product commercialisation of a high value business idea. This is a permanent residence visa that allows people to live and work in Australia indefinitely.
Who is it for
Venture Capital Entrepreneur Stream is a permanent residence visa which is for people who have access to venture capital funding of at least AUD 1 million
How to qualify
The main criteria for eligibility for a subclass 132 visa in the significant business history stream include:
- Your age must be less than 55 years
- You are nominated by an Australian state or territory
- You and your r spouse do not have any misconduct in business activities of a nature not generally acceptable in Australia
- You have a funding agreement with an Australian company that is a member of a specified venture capital body to obtain funds for creating, developing or expanding a business in Australia
- The funding agreement is for at least AUD$1 million
- You have a genuine commitment for participating in business activities in Australia
- You must meet health and character requirements
Submit your EOI
You must submit an Expression of Interest (EOI) and get nominated by an Australian state or territory government. You will get visa nomination based on your EOI. Submitting an EOI is the first step you must do. Submitting EOI does not mean that you will be able to apply visa.
Prepare your documents
You have to prepare all your documents before visa lodgement. Providing proper and complete set of documents will boost up the chances of visa approval.
You must provide:
- ID documents
- Venture capital documents and forms
- Business documents
- Net asset documents
- Immigration forms
- Character documents
- English language documents
- Partner documents
- Dependant children’s document
- Dependants over 18 documents
Submit your visa application
Applications must be lodged online. You must have an ImmiAccount so that you can start filling up your application, upload documents and pay the required visa fees. After getting visa invitation, you will have 60 days to apply for the visa.
After you apply
132B visa will take a long time to process. The average time could be between 1 year and 2 years. You must have done your medical on time to avoid delays. But the processing time depends on the number of files are being processed at the DHA.
You can be in or outside Australia when DHA decides on your visa application. You must enter into Australia within the time specified in your visa grant notification letter.
The document needed
- Color copies of the pages of your current passport showing photo, personal details, and passport issue and expiry dates.
- national identity card,
- proof of change of name, if applicable
- a marriage or divorce certificate
- a statement outlining your intended business or investment activities
- a description of your research or study in relevant sectors in Australia
- a description of your business’s activities in Australia, and the period of ownership, if applicable
- Evidence of the net value of your business and personal assets
- share or debentures certificates, fixed interest securities, ownership and market value of claimed marketable securities (if any)
- memorandum and articles of association
- certificate of business registration
- franchise agreement, company registrar, or share transfer documents
- partnership agreements between all partners
- Evidence you managed the business
- Provide a full set of financial statements for your business.
- a one-page organizational chart
- Summary statement of assets and liabilities – Provide Form 1139A Statement of Assets and Liabilities Position.
- Provide a certified copy of the trade qualification, diploma or bachelor degree to claim points.
- For a registered trademark, provide evidence that proves ownership of the trademark.
- monthly or annual tax returns showing the cumulative export sales of the main business for the year
- Provide proof you have at least functional English.
- Character certificate
The visa costs AUD 7,855 for the principal applicant.
There is also a charge for each family member who applies for the visa with you.
- additional applicant over 18 years old: AUD3,930
- additional applicant under 18 years old: AUD1,960
Visa subclass 132B is not a good option if you do not have a genuine intention of business interests in Australia.