A permanent visa for people who have sourced venture capital funding from a member of AVCAL to fund the start up or product commercialisation of a high value business idea. You must be nominated by a state or territory government.
To find out if you are eligible, read the Department of Home Affairs' visa criteria for the Business Talent (Permanent) visa (subclass 132).
Victorian nomination eligibility
You must be under age 55.
Sufficient funds to settle in Victoria
Applicants and their dependents must have sufficient funds to settle in Victoria. Applicants are required to declare that they have sufficient funds for settlement in their Victorian visa nomination application. It is the responsibility of the applicant to research and determine the cost of living in Victoria to ensure their own financial resources are adequate for settlement. See further information on the cost of living in Victoria.
Living in Victoria
You must have a genuine commitment to establish a residence and reside in the State of Victoria as per the visa and nomination conditions.
Applicants seeking Victorian visa nomination will need to hold the rights to an idea, product or technology that requires additional funding in order to advance its commercial potential.
An ‘eligible’ business must:
- be high risk/have high growth potential
- be engaged with a unique, innovative, product or service
- have the potential to make a substantial benefit to the Victorian economy.
The business activity must involve the early phase start-up or commercialisation of an ‘eligible’ business. Investment in property development, land ownership, finance or construction as the predominant activity will not be considered for Victorian visa nomination.
The venture capital investment must have been raised from funds that are not connected with the individual seeking the venture capital funding.
It is expected that applicants:
- have a background in the area where the venture capital funding is sought. This may be evidenced through tertiary qualification, business ownership, and/or patents for invention
- must be the person who has entered into the legally enforceable agreement with the venture capital company to receive venture capital funding
- must have a realistic commitment to maintain a substantial ownership interest in the business and maintain direct and continuous involvement in that business.
All applications must outline the benefit that the business proposal will provide to the Victorian economy and the entrepreneurial skill that the applicant will bring to Victoria.
You must provide the Victorian Government with a detailed business plan prepared by an independent source. As an attachment to the formal business plan, you must detail the economic benefit that will be delivered to the Victorian economy as a result of your proposed activity.
You need to apply for Victorian visa nomination before you make a formal application for your visa. Applying for visa nomination from the Victorian Government involves three steps.
Step 1: Submit an expression of interest
Submit an expression of interest to the Department of Home Affairs through SkillSelect and nominate 'Victoria' as your preferred destination.
Step 2: Apply for visa nomination
- Business Talent (Permanent) visa (subclass 132) – Venture Capital Entrepreneur stream downloadable application form.
A new online application form is in development. This downloadable version is being used as an interim measure.
You will need to prepare the following documentation for your application and upload it when requested:
- Appointment of an Agent/Representative form (if applicable)
- Business plan
- Evidence of venture capital funding secured (for example, a signed funding agreement).
All forms are available from the Supporting documentation and forms page.
Please return the application form with supporting documents to email@example.com
Step 3: Lodge a formal visa application
Once you receive visa nomination from the Victorian Government, an automatic invitation will be sent to you by SkillSelect advising you to lodge a formal visa application with the Department of Home Affairs within 60 days.
Visa nomination processing
Processing times can vary. You can expect an outcome within twelve weeks from the time your complete application is lodged for visa nomination.
We will contact you or your agent (if applicable) if we need more information to assess your application.
You or your agent (if applicable) will be notified of the outcome of your visa nomination application by email.
As part of your application, you will be required to agree and adhere to the following obligations:
- I have read (or have had read to me) the contents of my nomination application and confirm that the information contained in it is true and correct
- I confirm that I meet all of the Department of Home Affairs' visa eligibility criteria for the Business Talent (subclass 132) visa
- I will make contact with the Victorian Government (at the contact points noted on this website) within one month of arrival in Victoria
- I will notify the Victorian Government of any changes in my contact details within the first five years of permanent visa grant and agree to participate in any surveys that the Victorian Government may initiate
- I have sufficient financial resources to support myself and my dependents to settle in Victoria and understand that it is my responsibility to determine the cost of living in Victoria
- I have a genuine commitment to establish a residence and reside in Victoria
- I have a genuine commitment to undertake entrepreneurial activity that provides economic benefit to Victoria.
The Victorian Government
- may share information relating to you, your application and your business/investment activities in Victoria with the Department of Home Affairs
- reserves the right to make direct contact with you in relation to your application and business/ investment activities.
- has no legal authority to deal with visa matters and will not advocate to the Department of Home Affairs or the Administrative Appeals Tribunal on your behalf
- does not endorse any investment made, or any business activity undertaken, by you nor does it accept liability for any financial loss, cost or expense incurred as a result of any business decision, business activities or investments made by any person in any way connected with your application, or otherwise
- Victorian Government visa nomination is not transferable to any other Australian State or Territory.
Without express written consent from the Victorian Government, failure to comply with the above conditions may result in the withdrawal of Victorian Government support for the applicant’s visa.