132B visa

132B Visa – Venture Capital Entrepreneur Stream

This is a subclass 132 stream for the applicant that has a business or project funded by an Australian venture capital firm for at least AU$1 Million. You must be nominated by the states and every state has its own requirements. You must show the business plan and your day to day involvement in the business as well as the research that you have done in Australia on how you can make the business successful. You have to be committed in the with the business that you are establishing so that you are able to get funded by venture capital and satisfy the criteria for this subclass stream. Successful business history is not mandatory but it will give you a better chance of getting fundings and as a proof of your genuine business plan. The venture capital must be a member of AIC (Australian Investment Council). This visa stream will grant you a permanent resident straight away if your application is successful, there is no minimum amount of time for you to stay in Australia so you can apply from anywhere in the world and you do not need to be in Australia when the department grants your visa.

132B Visa Checklist:

Note: all documents must be in English, all non English documents must be NAATI translated.

Personal Identity Documents

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You will need to prepare your personal identity documents such as passport, birth certificate, national ID, birth certificate, etc…

Venture Capital Documents

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These documents should show that you have the funding for venture capital. You sibmit the documents that highlight the relation of the venture capital funds with AIC. You need to highlight the start-up costs, development of the business, and the commercialisation of the business.

Business Documents

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You need to submit a statement that highlight your intended business activities, business activity, your ownership period if applicable, and your research in the related sectors in Australia. You must also submit a commitment to maintain the ownership interest, daily engagment in business activity and management, and your effort into making the business successful.

Form 80 + Police Check + Form 1221

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A completed form 80, a police check from every country that you have lived in for 12+ months and a completed form 1221. You need to submit a military records if you have served in military at any point of your life.

English Test

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You need a functional English to be eligible for this visa subclass stream OR you can pay a second instalment fee if you can not reach a functional level of English.