Business owners can work and stay in Australia and have a proper and realistic commitment to incessantly maintain a possession of interest and participate in the daily management of their business. This is often a state-nominated permanent residence visa for business owners and entrepreneurs.
Streams in this Visa
The Business Visa subclass 132 offers you 2 streams to choose from:
Venture Capital Entrepreneurs
This stream is suitable those business owners who have obtained a minimum of AUD$1 million in an agreement funding from an Australian capital firm that is additionally an AVCAL member, to develop an innovation to a financial stage.
Significant Business History
High level business owners who need to undertake important commercial activity providing either, employment, exports or an investment in big magnitude.
The subclass 132 visa is valid for 5 years with future choices for added permanent residency visas or citizenship. There’s no points test for the category 132 visa.
Requirements
State and Australian Government necessities are completely different for every stream.
For the Venture Capital Entrepreneurs (VCE), to meet the state nomination necessities you must:
- Meet Department of Home Affairs 132 VCE stream criteria
- Intend to live in Australian state
- Have a viable business plan approved for a minimum AUD $1,000,000 from a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL) for a business venture in an Australian state. The venture should be of remarkable economic profit to Australian state with property to be registered in Australia.
- Agree to register your arrival in Australian state with the immigration department and maintain current contact details for the period of your visa.
For the Significant Business History (SBH), to meet the state nomination necessities you must:
- Meet Department of Home Affairs 132 SBH stream criteria
- Intend to work and stay in Australian state
- Commit to invest in Australian state and meet the advantage of state demand
- Provide info to the department to change the 2 year review once the visa is granted. The data should detail the sort of business being conducted, the scale of the business and that of the subsequent profit to State necessities you have met.
- Agree to register your arrival in Australian state and maintain current contact details for the period of your visa.
Benefits to state requirements
You must attempt to meet a minimum of one of the subsequent necessities through your business in Australian state inside the first 2 years of holding the visa:
- Employ four full-time staff for a minimum of twelve months within twenty four months of the 132 visa grant date. They need to be either Australian citizens, Australian Permanent Residents or New Zealand passport holders, for the complete 12-month duration.
- Export AUD $600,000 of South Australian merchandise or services (turnover value).
- Invest AUD $1,500,000 into one or more state businesses
How to apply for this visa
Some points you should keep in your mind while applying for this visa are:
- It is suggested you visit Australian state before making a choice to speculate and apply for State nomination.
- Check the Department of Home Affairs visa conditions to confirm you meet the eligibility criteria
- Ensure you meet the eligibility criteria for state nomination in Australian state and skim the State application terms and conditions
- Submit your Expression of Interest (EOI) on the Australia’s immigration department’ SkillSelect website and don’t forget the reference number for your state nomination application
- Submit an online application for state nomination.
- If you’re approved for state nomination, you may receive the Letter of Invitation from the Department of Home Affairs asking you to lodge your visa application within sixty days of nomination.
There are some other conditions that are associated with every visa and can only be understood with the help of an immigration agent. Get assistance in your visa from the best migration agent in Adelaide and ensure your process without any errors.