Live in Victoria have provided the following new property development criteria for Subclass 132 visas has been introduced and applies to all proposed business activities that relate to property development.
- The applicant must have relevant qualifications and experience (for example, architecture, engineering or construction management). Extensive relevant experience may substitute a qualification – this will be considered on a case by case basis
- The property development activity must align with one of Victoria’s priority sector strategies
- The minimum A$2 million capital investment must not include land purchase costs
- The business activity must not be small-scale, project-based property development.
The changes do not apply to the Business Innovation and Investment (Provisional) visa (subclass 188).
Further information is available on the Live in Victoria website.