Update Subclass 132 – Property Development business activities

Update Subclass 132 – Property Development business activities

Victoria state has developed a new property development criteria for Subclass 132 visas, which has been introduced and applies to all proposed business activities that relate to property development. The business Talent (Permanent) visa (Subclass 132) Significant Business History stream is a specialist visa designed for high net worth individuals with outstanding commercial background.

Eligibility

-You must be under the age of 55
-You must have sufficient funds to settle in Victoria
-You must have attained a high degree of commercial success in one or more field
-You must undertake business activity that will provide exceptional economic benefit to Victoria
-You have relevant qualifications and experience (e.g. architecture, engineering, construction management). Extensive relevant experience may substitute a qualification
-You have property development activity aligns with one of Victoria’s priority sector strategies
-You have minimum A$2million capital investment does not include land purchase costs and activity must not be small scale, project-based property development

How to apply

Step 1. Submit an Expression of Interest through SkillSelect

Step 2. Apply for Victorian visa nomination.

1) Prepare your documentation.
-Appointment of Agent/Representative form
-Part B form
-Property Development Assessment form
-Business plan/market research

All of these forms are available at http://www.liveinvictoria.vic.gov.au/visas-and-immigrating/business-visas/supporting-documentation-and-forms-for-business-visas#.WhjnQlHhXIV

2) Register as a user of the Live in Victoria website

3) Apply for visa nomination online

Step 3. Lodge a formal visa application

The applicant must receive an email invitation from DIBP to lodge a formal visa application. Apply for the 132 through DIBP.

Are you eligible to apply 132 visa and interested in investing property development in Victoria? Contact us at 03 9419 3188 to book a consultation with one of our expert migration agents now!