According to the latest data available via the SkillSelect , there are 170 Expressions of Interest applications pending for the State of South Australia for 132 Significant Business History and 132 Venture Capital Entrepreneur Business Visas.
The State of South Australia continues to operate on interim allocations, this is a timely reminder for existing and new Subclass 132 visa holders to ensure they adhere to the State’s monitoring and compliance rules.
Business migrants seeking nomination for a Business Talent Subclass 132 visa must meet both state and Department of Home Affairs requirements. State/Territory and Australian Government requirements are different for each stream.
This visa is for business owners and entrepreneurs and offers a choice of two streams:
Significant Business History: High-level business owners who wish 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 three years.
Venture Capital Entrepreneurs: People who have obtained at least AU$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.
Monitoring and Compliance Requirements for a Subclass 132 are:
During the two year period, Subclass 132 visa holders must demonstrate the following:
- Meeting the Department of Home Affairs 132 Significant Business History stream criteria.
- Intention to live in the borders of the nominating State/Territory
- Invest in nominating state/territory and met the Benefit to a State/Territory requirement
- Provide information to Skilled and Business Migration to enable a three-year review after visa grant. The information must detail the type of business being conducted, the scale of the business, and which of the Benefit to State/Territory requirements you have met.
- Register your arrival in the nominating state/territory with Skilled and Business Migration, and maintain current contact details for the duration of your visa.
If you have any additional questions or require further clarification with a Subclass 132 visa, please, do not hesitate and contact me regarding this matter.