The Australia visa subclass 132 is one step towards making Australia a more prolific business centre for the world. The Australian government sends an invitation to the business talents around the world to come to Australia and establish new businesses. The interested parties can acquire existing businesses or enter collaborations in Australia in view of the emerging opportunities. Australian visa under subclass 132 has two streams-
- Significant Business History Stream – The affluent business owners or potential parties are invited to own businesses in Australia or collaborate with existing businesses in Australia.
- The Venture Capital Entrepreneur Stream – The budding entrepreneurs who have obtained AUD one million as seed capital from any venture capital firm of Australian origin. The venture fund should find its investment in a high value business idea through business development or a commercial start-up.
The government sends invitation to eligible applicants upon receiving an expression of intent (EOI). The intending persons that seek Australia SkillSelect visa subclass 132, should have –
- Business or personal assets worth AUD 1.5 million and must have a business turnover of AUD 3 million
- Managed a minimum of AUD one million as seed capital from any venture capital firm of Australian origin
While applying for the Significant Business History Steam the applicant must also comply with the following requirements:
- The applicant should be below 55 years of age.
- The applicant along with the partners should have declared assets worth AUD 400,000 or more
- Total assets worth AUD 1.5million subject to an early transfer to Australia within 2 years of visa being approved
- The applicant along with the partners should have file a turnover of AUD 3million or more for the past two of the four financial years at the time of invitation