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State Nominated Venture Capital Entrepreneur (Permanent) visa (subclass 132B)

The State Nominated Venture Capital Entrepreneur (Permanent) visa (subclass 132B) is intended for individuals who have secured A$1 million in venture capital funding from a member of the Australia Venture Capital Association Limited (AVCAL) to fund the start up or product commercialisation of a high value business idea in Victoria. 

Guidelines

It is critical that you assess your eligibility for this visa by referring to the full details on the Department of Immigration and Border Protection (DIBP) website.

The business activity must be ‘eligible’ and supported by comprehensive market research that includes an evaluation of the business’s potential to deliver an ‘exceptional’ contribution to the economy of Victoria.

Applications are evaluated on a case by case basis and factors taken into account would include:  

  • the applicant’s business background
  • the potential contribution to be made to the Victorian economy by the applicant’s choice of investment(s)
  • the applicant’s settlement intentions
  • the applicant’s broader business agenda in Victoria
  • whether the applicant has previously visited Victoria and gained an appreciation of both the business environment and lifestyle.

The applicant must provide this office with a detailed business plan prepared by an independent source. As an attachment to the formal business plan, the applicant must detail the economic benefit that will be delivered to the Victorian economy as a result of the applicant’s proposed activity.

The time between successful state nomination and the offer of visa issue from the Australian Government could be as little as 12 weeks.

View the Guidelines for State Nominated Venture Capital Entrepreneur (Permanent) visa (subclass 132B) (DOC, 96 KB)

Standard nomination conditions

All offers of nomination are subject to conditions which must be personally acknowledged and endorsed by the applicant.  Failure to comply with these conditions will adversely impact on the State Government of Victoria’s ongoing support for the visa.  Whilst individual conditions for nomination are drawn up on a case by case basis there are a number of standard conditions.

1. Upon signing the nomination application, the applicant confirms that they have assessed their ability to meet all of the Department of Immigration and Border Protection’s visa eligibility criteria.

2. In addition to the venture capital funding of A$1 million, the applicant agrees to transfer no less than A$250,000 to Victoria within 23 months of visa activation for settlement related expenses.

3. Victorian Government nomination is not transferable to any other Australian state or territory.

4. Should the applicant’s visa application be rejected by DIBP, the Victorian Government as nominating authority will not participate in the Migration Review Tribunal appeals process.

5. The applicant agrees that the Victorian Government may share information relating to their application, and business/investment activities in Victoria, with DIBP. 

6. The Victoria Government may make direct contact with the applicant in relation their application or other relevant issues.

7. Applicants residing overseas will have the details of their nomination application forwarded to the relevant Victoria Government Business Office (VGBO). The Commissioner of a VGBO may make contact with the applicant to discuss potential assistance in relation to the development and/or implementation of their future business/investment activity in Victoria. Applicants residing in Victoria may be contacted by an officer from the Department of Economic Development, Jobs, Transport and Resources.

8. The applicant will notify the Victorian Government of any changes in their contact details and agrees to participate in any surveys that the Victorian Government may initiate.

9. The applicant understands they are expected to maintain a residence in the State of Victoria. 

10. It is strongly recommended that applicants obtain professional legal and financial advice before investing or undertaking any business activity.

11. The Victorian Government does not endorse any investment made or any business activity undertaken by the applicant nor does it accept liability for any financial loss, cost of expense incurred as a result of any business decision, business activities or investments of the applicant or any person in any way connected with this application or otherwise.

Applying

There are three steps to applying for a state nominated 132(B) visa:

Step 1. Submit an Expression of Interest through DIBP's SkillSelect

  • Lodge an Expression of Interest (EOI) in SkillSelect  
  • When completing your EOI, designate ‘Victoria’ as your preferred destination. 

Step 2. Apply for visa nomination

There are two parts to the visa nomination application.  You will need to complete:

2. Appointment of an Agent/Representative form. This form is available from Supporting Documentation and Forms page. It should be printed, signed, scanned and saved.

Once completed email both forms to businessmigration@liveinvictoria.vic.gov.au 

Step 3. If the application is successful in attracting visa nomination

  • The applicant will receive an email ‘invitation’ from DIBP to lodge a formal visa application. 
  • Apply for the 132(B) visa through DIBP. 
  • The invitation from DIBP to lodge a formal visa application is only open for a limited time and cannot be extended. If you do not lodge your visa application with DIBP within that time, you will not be eligible to be considered for a second state nomination for nine months. 

Victorian visa nomination processing

  • We will confirm receipt of your application by email and provide a reference number which should be used for any future communication.
  • Email acknowledgement of receipt of your application will be sent within three working days.
  • Processing time is subject to a number of variables.  Applicants can expect an outcome within 12 weeks from the time your complete application is lodged for state nomination.

Additional information

If further clarification is required regarding your application, additional information may be requested.

Nomination outcome

You and your agent will be notified of the outcome of your state nomination application by email.

Contact Details for Investor and Business Migration

For further information or assistance with your application for Victorian visa nomination please contact:

Email: businessmigration@liveinvictoria.vic.gov.au
Telephone: +61 3 9651 9756

Disclaimer

These policies and procedures may be varied without notice. Please visit the website regularly to check for updates.