The SC132 is a permanent visa which allows you to establish a new, or develop an existing, business in Australia. After 5 years, if you wish to remain in Australia, you will need to apply for a Resident Return Visa.
You must be nominated by a state or territory government agency and invited to apply for the SC 132, by the Minister. You can be onshore, or offshore, Australia when you apply and when the visa is granted.
There are two distinct methods to be granted a SC132:
- Significant Business History Stream – for affluent owners or part owners of a business who want to have a major management role in a new or existing business in Australia
- Venture Capital Entrepreneur Stream – for people who have obtained venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
Alternatively a SC132 Visa through the Venture Capital Entrepreneur Stream may suit you if:
- you fulfil most of the basic criteria outlined above, and have obtained at least AUD $1m in venture capital funding to start and develop a high-value business idea in Australia AND
- you are committed to meeting the requirements of the relevant venture capital agreement.
A Subclass 132 Visa through the Significant Business History Stream may suit you if:
- you are less than 55 years old
- you have an overall successful business career
- you fulfil the requirements of the stream you apply through
- you have never been involved in unacceptable business or investment activities
- you (and your spouse combined) have net business and personal assets of at least AUD $1.5 million
- you have an annual business turnover of at least AUD $3 million
- you will establish a qualifying business in Australia, or participate in an existing qualifying business in Australia