What is Business Talent Visa Subclass 132?
The subclass 132 visa enables applicants and their families to secure permanent residency in Australia by developing their existing business in Australia or establishing a new business in Australia that is of significant benefit to the nominating state or territory you have established the business in. Business Talent 132 Visa is designed for high calibre business people who are owners or part owners of an overseas company and have a genuine and realistic commitment to participate in the management of a new or existing business in Australia. You must be sponsored by a state or territory government.
Who can get Business Talent Visa Subclass 132?
This visa is for experienced business owners, to operate a new or existing business in Australia.
Entitlements of the Business Talent Visa Subclass 132
The Business Talent visa will grant you permanent residence in Australia. It will allow you and your eligible family members:
- The right to stay in Australia indefinitely.
- Work and study rights in Australia.
- The opportunity to enrol in Medicare – Australia’s scheme for health-related care and expenses.
- Apply for Australian citizenship once you become eligible.
- Sponsor eligible relatives for permanent residence.
- Travel to and from Australia for up to five years.
- Possible qualification for a Special Benefit from Centrelink if you suffer a major change of circumstances beyond your control.
What are the Streams under Business Talent Visa Subclass 132?
Significant Business History stream
For affluent business people who are owners or part owners of a business and have a genuine and realistic commitment to participate in the management of a new or existing business in Australia.
The applicant must:
- be less than 55 years of age or the nominating jurisdiction must provide their support to waive the age requirement;
- be nominated by an Australian state or territory government agency before being invited to apply for this visa. If you are nominated for the visa, the Department of Home Affairs will invite you to apply. All state and territory government agencies have their own criteria for deciding who they will nominate;
- be able to demonstrate: an overall successful business career and a genuine desire to own and manage a business in Australia;
- For at least 2 of the 4 fiscal years before you were invited to apply, you, your partner, or you and your partner combined, must have had an ownership interest in one or more qualifying businesses in which your net value was at least AUD400,000. If the qualifying business is a publicly listed company, your shareholding must have been at least 10 percent of the total issued capital;
- The business and personal assets of you, your partner, or you and your partner combined, must be at least AUD1.5 million;
- Your total annual turnover must be at least AUD3 million:
- from at least 1 business and no more than 2 businesses;
- for at least 2 of the 4 fiscal years immediately before you were invited to apply for this visa;
- Your ownership interest must be either:
- 51% or more of a business with turnover of less than AUD400,000 per year, or
- 30% or more of a business with turnover of more than AUD400,000 per year, or
- 10% or more of a publicly listed company;
- You and any family members who apply for the visa with you must meet Australian health requirement;
Venture Capital Entrepreneur stream
This visa is for people who have sourced venture capital funding from a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)).
The applicant must:
- be nominated by an Australian state or territory government agency before being invited to apply for this visa. All state and territory government agencies have their own criteria for deciding who they will nominate
- have at least functional English
- maintain a direct and continuous involvement in the day to day management of the eligible business
- maintain a substantial ownership interest in your business or investment
- secured at least AUD1 million in funding for a high-value business idea
- entered into an enforceable agreement with an Australian venture capital firm for the funding. Funding must be for:
- business development or expansion of a business in Australia
- the commercialisation of a product in Australia
- early phase start-up of a business in Australia
How long to process Business Talent Visa Subclass 132?
The processing time is between 3-12 months
Official website: Business Talent Visa Subclass 132
Check other visa options.