This visa is for people with business skills who want to set up, grow and manage a new or existing business in Australia to boost the economy. This visa allows the Applicant and his family to have permanent residency at the time of visa issuance. To participate in the above immigration program, entrepreneurs need to be sponsored by one of the Australian states and must meet the standards under the Australian Government’s Migration laws.

Requirements of the Venture Capital Entrepreneur Stream include:

• Must have received at least $1 million in funding from an Australian venture capital firm.
• The funding must be for the start-up, product commercialization or business development of a potentially high-value business idea.
• The venture capital firm must be a member of the Australian Association and Private Ventures (AVCAL).
• The applicant has signed a formal agreement with the venture capital firm for funding.

INVESTMENT REQUIREMENTS FOR 132B VISA

• Be nominated by a state or territory in Australia.
• Received an invitation to apply for a visa.
• The Applicant and all of the Applicant’s family members must meet the health and criminal record requirements.
• Applicants must have received a minimum of AUD 1 million from an Australian venture capital fund company that must be a member of AVCAL.
• Have a formal contract with a venture capital fund company.

OBLIGATIONS OF APPLICANT AND FAMILY

• Comply with all visa conditions and laws in Australia.
• Comply with business conditions.
• The applicant must enter Australia on the date specified by the Australian Department of Immigration.
• Family members of the Applicant are not allowed to be married or have a de facto relationship before they enter Australia.
• You must notify the Australian Department of Immigration of your permanent address within 6 months of your arrival in Australia. Notify if you have changed your place of residence (whether inside or outside of Australia) on form 929 within 28 days of moving to a new place.
• After entering Australia, the Applicant must meet the requirements of the venture fund agreement.
• Maintain equity and engage in business and investment activities in Australia.