Who should apply for 132 Visa?
If you are under 55 years old (unless State waiver applies) and have overall successful business career, you can submit an expression of interest (EOI) through SkillSelect. However, you can only apply for the visa if you have been invited by the nominating State.
To be eligible to apply, your personal assets should be at least AUD1.5 million and business turnover of AUD 3 million in up to two businesses.
You can choose one of 2 streams,
- Significant Business History
- Must have assets of AUD 1.5 million and business turnover of AUD 3 million;
- Net asset value (Total Assets – Total Liabilities) worth AUD 400,000 or more;
- Annual turnover (Gross Revenue) of more than AUD 3,000,000 for 2 fiscal years out of 4 years immediately before the time of invitation to apply; and
- If it is a publicly listed company, must have at least 10% ownership of the business.
- Venture Capital Entrepreneur
- Must have sourced AUD 1 million in venture capital funding from a member of Australian Investment Council (AIC);
- Provide evidence of a legally binding venture capital agreement (not a draft agreement) with a member of Australian Investment Council (AIC); and
- Plain English letter explaining the purpose and how much venture capital they will receive.
You should also demonstrate,
- Commitment to maintaining ownership interest – plan to establish and maintain a substantial ownership interest in a business in Australia
- Direct and continuous management – plan to maintain direct and continuous involvement in the management of the business in Australia
- Benefit to Australia – the intended business will be of economic benefit to Australia
- Realistic and genuine commitment – may not need to be met for Business where the applicant does not need to spend a substantial amount of time in Australia e.g export of Australian goods.
English Skills
Any applicants aged 18 years old and above must have at least functional English skills or will need to pay the second instalment of visa application charge.
Each State has their own age waiver condition and Benefit to State relevant requirements.
| State or Territory | Additional Benefit to State requirements |
| NSW | – Applicants when granted the visa, must be prepared to transfer funds into NSW regardless of proposed business is located in Sydney or Regional NSW,
* at least AUD 3 million, which includes AUD 1.5 million business investment (Sydney); or * at least AUD 2 million, which includes AUD 1 million business investment (Regional NSW). – The Job creation requirement must be met regardless of proposed business is located in Sydney or Regional NSW, * at least five new full-time jobs (Sydney); or * at least three new full-time jobs (Regional NSW). |
| SA | – Intend to live in SA.
– Proposed Property developing businesses require investment of AUD 1.5 million (age under 55) or AUD 2 million (age over 55) – Proposed export businesses require turnover of AUD 600,000 (age under 55) or AUD1.2 million (age over 55) – Regional SA businesses require investment of up to AUD 4,500,000 (age over 55) – Non-regional SA business require investment of up to AUD 6,000,000 (age over 55) – All applicants must employee eligible full-time employees. |
| QLD | – Must show an intention to reside as well as invest in QLD.
– Must meet Business and Skilled Migration Queensland (BSMQ) criteria – Applicants when granted the visa, must be prepared to transfer funds into QLD, * at least AUD 1.5 million, which includes AUD 1 million business investment and AUD 500,000 for settlement costs. |
| ACT | -Evidence of sufficient personal funds to settle in Canberra.
-Evidence of agreement with an actively operating ACT registered business. -Prepared to invest at least AUD 2 million into the ACT for business opportunity that can create economic benefit to the ACT. |
| VIC | – Must provide a detailed business plan prepared by an independent source detailing the benefit from the proposed business activity for the Victorian economy.
– Applicants when granted the visa, must be prepared to transfer funds into VIC, * at least AUD 250,000 |
| WA | – Purchased a residence in WA.
– Evidences showing communications with vendors and suppliers in WA. – History of previous travel to WA. – Completion of WA’s monitoring survey once the visa is approved. |
| NT | For those aged 55 years and over an age exemption could apply if the proposed business or investment activities will be of exceptional economic benefit to the NT, such as
– A history of doing business with NT businesses. – Established residence in the NT. – Have relatives and associates in the NT – Be interested in the 3-hub economy: Mining & Energy, Tourism and Primary food/fish export industry |
| TAS | – Answer all Tasmanian Government investment progress reports issued to you.
– For the Venture Capital Entrepreneur stream, you must submit evidence of having received at least A$1 million in funding from an AVCAL registered Australian venture capital firm. |
Visa Application
If you are invited to apply for the 132 visa, you will have 60 days to lodge a visa application.
Processing Times
75 percent of applications processed in 29 months.
90 percent of applications processed in 36 months.
Offshore Rollover
As a permanent resident, you can travel outside Australia for 5 years. If you are outside Australia after the 5 years, you will need to re-enter on a Resident Return (RRV) visa (subclass 155 or 157) as a permanent resident.
Start to prepare your 132 Visa Application
MANDATORY FORMS
Online form
ENGLISH SKILLS
English Language test results
PROOF OF ASSETS
Trust deeds
Bank statements
Mortgages Valuation certificate
Loan agreements
Shares or fixed interest securities, debentures, transfer certificates
BUSINESS HISTORY
Detailed resume or CV
Written references to support a previous Management role
Professional licences and registrations
Financial statements of the qualifying business
HEALTH
Form 815 Health undertaking if you have a significant health condition such as Tuberculosis, HIV, Hepatitis B or C, Hansen’s Disease.
CHARACTER
Form 80 Declaration of applicant(s) and those who are not migrating
Military Discharge Papers of applicant(s) and those who are not migrating
Police Check from Residence Abroad of applicant(s) and those who are not migrating
AFP Police Certificates of applicant(s) and those who are not migrating
IDENTITY – Applicant
Certified copy of applicant passport and national identity documents
Certified copy of applicant Birth Certificate
Certified copy of applicant Police Records in all countries of residence
Current CV of applicant
Recent passport-size photo of applicant(s) and those who are not migrating
IDENTITY – Partner & Dependents under 18 years or older
Proof of shared finances and home address with Partner (joint bank account statements, billing accounts in both names, joint leases or mortgages)
Certified copy of passport and national identity documents
Certified copy of Birth Certificate
Certified copy of Police Records in all countries of residence
Current CV
Proof of Functional English Skills
Recent passport-size photo
Health and Character documents
Form 47a – Proof of dependency for dependents
Originally posted 2022-07-02 22:46:30.
