The 132 visa has two streams, and each stream has unique requirements.

• Significant Business History Stream (132A): This 132A visa is for experienced business owners who have a business and personal assets of at least AUD1.5 million and a business turnover of at least AUD3 million. Once the 132A visa is granted, they must own and run a new or existing business in Australia.
• Venture Capital Entrepreneur Stream (132B): This 132B visa is for talented entrepreneurs who have secured a venture capital funding of at least AUD1 million from an Australian Investment Council (AIC) member. The funding must be used for existing business development, commercialization of a product, and business early phase start-up. The applicants must also own and run the new or existing business in Australia.

Although each of the two streams has its unique requirements, there are still some standard 132 application requirements:

• Have at least functional English Level (IELTS 4.5; PTE 30)
• Submit your expression of interest to the Australian state or territory before the visa application
• Be nominated by Australian state or territory to apply
• Conduct legal business or investment activities only in Australia
• Not having a history of any illegal business and investment activity in any country

132 Visa Features:

• Maintain business and investment activity in Australia permanently
• Include your partner or children into your 132 visa application
• Sponsor parents to apply for PR visa
• Stay in Australia permanently
• Access to Medicare and Centrelink payment
• Become an Australian Citizen if you meet the requirements