Veja se ajuda:
'Code------------------------------------------------------------------------
Option Explicit
Const HWND_TOPMOST = -1
Const HWND_NOTOPMOST = -2
Const SWP_NOSIZE = &H1
Const SWP_NOMOVE = &H2
Const SWP_NOACTIVATE = &H10
Const SWP_SHOWWINDOW = &H40
Private Declare Sub SetWindowPos Lib "User32" (ByVal hWnd As Long, ByVal hWndInsertAfter As Long, ByVal X As Long, ByVal Y As Long, ByVal cx As Long, ByVal cy As Long, ByVal wFlags As Long)
Private Sub Form_Activate()
'configura o form como sempre visível
SetWindowPos Me.hWnd, HWND_TOPMOST, 0, 0, 0, 0, SWP_NOACTIVATE Or SWP_SHOWWINDOW Or SWP_NOMOVE Or SWP_NOSIZE
End Sub
'---------------------------------------------------------------------------