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.
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 millionSource: Department of Home Affairs, Australia
The main criteria for eligibility for a subclass 132 visa in the significant business history stream include:
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:
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.Source: Department of Home Affairs, Australia
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.