132 Western Australia
132 Business Talent (Significant business history & venture capital)
Significant Business History Stream
This visa provides permanent residence status at the first stage. You must be nominated by the Government of Western Australia to apply for this visa. State nomination criteria includes:
you have maintained at least a 30 per cent ownership share (or 10 per cent where the business is a publicly listed company) and directly managed a business which had turnover of at least AUD$3,000,000 for two of the last four fiscal years
your net assets in business were at least AUD$400,000 for two of the last four fiscal years
your proposed business activity in Western Australia will generate substantial economic benefits for the State of Western Australia (refer to the State nomination guidelines)
you must maintain a substantial ownership interest in your proposed business activity in Western Australia
you will meet the business investment, employment creation, own a residence, and you and your family will live in Western Australia, as negotiated in your State nomination agreement with the Government of Western Australia, at time of Department of Home Affairs 24 month Survey of Business Skills Visa Holders (Form 1010)
you are less than 55 years of age, or you are proposing to participate in a business activity which will be of exceptional economic benefit to the State (refer to the State nomination guidelines)
Applications are assessed on a case by case basis, however, the general guidelines for State Nomination are:
Any qualifying business:
value of net assets to be in business in Western Australia: at least AUD$1 million
creation of at least two new jobs (full time equivalent) in Western Australia
own a residence, and you and your family will live in Western Australia
Property development business:
value of net assets to be in business in Western Australia: at least AUD$2.5 million
creation of at least one new job (full time equivalent) in Western Australia
own a residence, and you and your family will live in Western Australia
Venture capital stream
General guidelines are as follows:
the venture capital entrepreneur stream was designed for a small number of highly talented individuals with high potential, high value business ideas
ideally, these individuals should have appropriate background in the area in which Venture Capital (VC) funding is sought which could be evidenced through tertiary qualification, business ownership, and/or patents for invention held in other countries
the VC investment must have been raised from funds that are not connected with the individuals seeking the VC funding. Applicants must declare in their application that the visa VC funds are not drawn from their own funds or funds related to the applicant's own money or any associates investing on their behalf
individuals should not just be employees of a company/business. They should be genuinely interested and skilled in managing/owning the business
State Nomination criteria includes:
you must have entered into a legally binding agreement with an Australian venture capital firm for funding of at least AUD$1,000,000, to be invested into the start-up, product commercialisation or business development of a promising high-value business idea
the venture capital firm must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). AVCAL has information about the venture capital category of membership in the Venture Capital entrepreneur visa factsheet.