Business Talent (Permanent) visa - Venture Capital Entrepreneur stream (132B) is for people who have sourced venture capital funding from a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)). The visa lets you operate a new or existing business in Australia.

With this visa, you can

• establish a new or develop an existing business in Australia

• stay in Australia permanently

• bring family members with you

• work and study in Australia

• enrol in Australia's public health care scheme, Medicare

• sponsor certain relatives to come to Australia

• travel to and from Australia for 5 years

• if eligible apply for Australian citizenship

You must

• be nominated by an Australian state or territory government

• be invited to apply

• have a genuine and realistic commitment to maintain a direct and continuous involvement in the day to day management of the eligible business, and to maintain a substantial ownership interest in your business or investment

• have secured at least AUD1 million in funding for a high-value business idea

• have entered into an enforceable agreement with an Australian venture capital firm for the funding

• either have at least functional English or pay the second instalment of the visa application charge if any applicant aged 18 or over at the time of application