Business owners will require to have a genuine and realistic commitment to continuously maintain an ownership interest and participate in the high level of business management of their business in Australia.
The subclass 132 visa is valid for five years with future options for additional permanent residency visas or citizenship.
There is no points test for the subclass 132 visa.
Who can apply for this visa?
This visa is for business owners and entrepreneurs and offers a choice of two streams:
- Significant Business History: High level business owners who want to undertake significant business activity providing either, employment, exports or high level investment. The 132 Significant Business History visa has a Department of Home Affairs review after two years.
- Venture Capital Entrepreneurs: People who have obtained at least AUD$1,000,000 in agreed funding from an Australian venture capital firm, which is also an AVCAL member, to develop an innovation to a commercial stage.