132 签证已经走入历史了，但是还有一些在审理中或者已经下签的132签证持有人还没有进入南澳。房地产开发是188和132签证持有人在南澳可以考虑的投资方式。南澳州政府认为房地产投资可以增加南澳房地产市场供给，改善旅游业和私人商业的基础设施，所以对房地产开发大力支持 (In order to increase housing choice and support the development and improvement of private commercial and tourism infrastructure。Business-Migration-Property-Development-Pathways
南澳洲鼓励申请人和有经验的房地产开发商合作开发房地产。（Business plans for property development will not be accepted where skilled & Business Migration is not satisfied that development or property consulting company partnering with the applicant for the property development does not have at least two year’s relevant property development experience. )
和这点和澳洲其他地方都不一样。其他州政府没有明确支持房地产开发的政策，就算允许房地产开发，也会有诸多的限制。比如WA规定房地产开发不可以和第三方合伙开发，必须开发3套房子以上，在签证有效期内，至少达到销售收入$300K 。（Property development business cannot be undertaken in partnership with any other party and have to propose a project of at least three dwellings which will generate the required $300K DHA turnover in sales within the term of the visa.)
https://www.businessmigration.wa.gov.au/business-migration/state-nomination-policy-guidelines
QLD明确规定不接受房地产开发类型的生意 （Property Development business will not be accepted）
对于房地产开发，最直接的一块费用就是买地的费用。买地费用里很大的一块就是印花税，（stamp duty)
一般对于132持有人来说，132持有人是PR签证，南澳印花税大概是5%。对于188持有人是非澳洲PR，印花税在5%的基础上还要加7%的海外投资人税（Foreign ownership surcharge)
那么，如果在南澳和当地开发商一同合作开发商业项目，有没有一种合适的商业结构（business structure) 可以既满足移民的的要求，又满足州政府的要求，还可以节省这不菲的印花税呢？
移民法s134 规定
“ownership interest” , in relation to a business, means an interest in the business as:
(a) a shareholder in a company that carries on the business; or
(b) a partner in a partnership that carries on the business; or
(c) the sole proprietor of the business;
including such an interest held indirectly through one or more interposed companies, partnerships or trusts.
所以对于商业移民来说，移民局可以接受的商业结构（business structure) 只有3种，申请人可以考虑成立一个公司来经营房地产，和澳洲当地的开发商成立一个合伙公司开发房地产，或者作为个体户来开发房地产。或者自己成立一个以上三种商业结构中的一种再来和其他人成立Joint venture 来开发房地产。如果房产可以澳洲当地的合伙人持有，负责房产建设，商业移民的申请人出资建设，负责资金运作，两个party 成立一个Joint venture, 完成南澳州的房地产开发要求，志杰移民认为应该是可以节省不少印花税的商业结构。