Venture Capital Entrepreneur stream

Business Talent (Permanent) Visa Subclass 132

Venture Capital Entrepreneur Stream.

This visa is for people who have sourced venture capital funding from a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)).

With this visa you can

• Establish a new or develop an existing business in Australia
• Stay in Australia permanently
• Bring family members with you

How long you can stay

This is a permanent visa. It lets you stay in Australia permanently. You become a permanent resident on the day Australia Immigration Department grant the visa. For citizenship purposes, your permanent residency starts on the day:

• Australian Immigration Department grant the visa if you are in Australia, or
• you enter Australia on this visa if you are outside Australia

Include family

You can include members of the family unit in your application when you apply and at any time before we decide on your application.

Family members who apply for the visa must meet our health and character requirements.

Family members who are not coming to Australia might also have to meet our health and character requirements.

Cost

he visa costs AUD7,855 for the main applicant.

There is also a charge for each family member who applies for the visa with you.

• additional applicant over 18 years old: AUD3,930
• additional applicant under 18 years old: AUD1,960

You might have to pay an extra charge for any applicant 18 years old or older who has less than functional English. This charge is called the second instalment. We will ask for the charge only if we are going to grant the visa. The second instalment charges are:

• main applicant: AUD9,795
• family members: AUD4,890

You might also have to pay other costs for health checks, police certificates and biometrics.

Processing times

We assess applications on a case by case basis, and actual processing times can vary due to individual circumstances including:

• whether you have lodged a complete application, including all necessary supporting documents
• how quickly you respond to any requests for additional information
• how long it takes to perform required checks on the supporting information provided
• how long it takes to receive additional information from external agencies, particularly in relation to health, character, and national security requirements
• how many places are available in the migration program

Your obligations

Eligibility

• You must be nominated by an Australian state or territory government agency before being invited to apply for this visa.
• You must have secured at least AUD1 million in funding for a high-value business idea
• You must entered into an enforceable agreement with an Australian venture capital firm for the funding
• The venture capital firm must be a member of the Australian Investment Council (AIC). The category of membership must be that of Venture Capital Membership.
• You have functional English Language
• Meet the residence requirement
  
• You must meet our health requirement.
• You must meet our character requirement.
• Signed Australian Value Statement
• Have paid back your debt to the Australian Government
• Not have had a visa cancelled or a previous application refused