In our earlier post we discussed the Department of Immigration’s requirements for the granting of a permanent residency visa under subclass 132B.
To recap, this is a visa pathway for those who have obtained at least A$1 million in funding from an AVCAL approved Australian Venture Capital firm.
Sponsorship (also known as a nomination) is required by a State Government to obtain a visa under this subclass.
If the applicant intends to establish a business in NSW an application for sponsorship is made to the NSW Government.
In addition to the Department of Immigration requirements, the NSW Government requires that applicants have a business plan for a complying entrepreneur activity that demonstrates that the activity that is to be undertaken in NSW:
- Proves a commitment to maintaining an ongoing relationship with NSW, and
- Is proposed to lead to the development of an enterprise or business in NSW, or the commercialisation of a product or service in NSW.
The NSW Government advises a priority processing time of five (5) business days for Business Talent visa nomination applications, so long as the application documentation is complete.