Business Talent (Permanent) visa (subclass 132)
The Business Talent (subclass 132) visa is a permanent resident visa that allows successful foreign business owners to establish a new business or develop an existing business in Australia.
In order to qualify for this visa, applicants must be nominated to apply by an Australian state or territory government agency. They also have to fulfill other essential requirements in terms of minimum net business assets, personal assets and annual business turnover, or a minimum investment in venture capital funding. However, this visa has no requirement to meet points test.
Eligibility Requirements
To be eligible to apply, an applicant must:
- be younger than 55 years of age;
Note: This requirement can be waived by state and territory government if applicant’s proposed business is of exceptional economic benefit to the relevant region
- have been nominated by an Australian state or territory government; and
- Lodged an Expression of Interest (EOI) and received an invitation from Immigration department to apply for this visa.
Streams
There are two streams to The Business Talent Visa:
- Significant Business History stream
- Venture Capital Entrepreneur stream
Benefits of Acquiring This Visa
With this visa, applicant can:
- stay in Australia permanently
- work and study in Australia
- bring family members to Australia
- travel to and from Australia for 5 years
- enroll in Australia’s public health care scheme – Medicare
- become eligible to apply for Australian citizenship
1. Significant Business History stream
Significant Business History stream is for experienced business owners or part owners who want to establish a new or develop an existing business in Australia.
This visa also allows applicant to stay in Australia permanently as well as bring his/her family members to Australia with him/her.
To apply for this visa, applicant must:
- Nomination: have been nominated by an Australian state or territory government
- Net-Worth: have a net value of at least AUD1.5 million (lawfully acquired)
- Business turnover: have an annual business turnover of at least AUD3 million for at least 2 of the 4 fiscal years immediately before applicant is invited to apply
- Assets: have a total net assets of at least AUD1.5 million as the ownership interest in one or more qualifying businesses for least 2 of the 4 fiscal years immediately before applicant is invited to apply
- be able to demonstrate an overall successful business career as well as a genuine desire to own and manage a business in Australia
- have functional English language
Application Process
Step 1: Submits an Expression of Interest (EOI), be nominated by an Australian state or territory government agency and then be invited to apply.
Step 2: Prepare required documents such as evidence of assets and business activities.
Step 3: Apply for the visa
Step 4: Track and manage your application
Step 5: Get decision on your visa application
2. Venture Capital Entrepreneur stream
Venture Capital Entrepreneur stream is a permanent visa that lets applicant stay in Australia permanently. It is designed for people who have sourced venture capital funding of at least AUD1 million from a member of the Australian Investment Council (AIC) to start a promising high-value business in Australia.
To apply for this visa, applicant must:
- Nomination: have been nominated by an Australian state or territory government
- Venture Capital Requirement: have secured at least AUD1 million in funding for a high-value business idea from an Australian venture capital firm
- Business acumen and ambition: intend to involve in the day to day operations of the eligible business as well as maintain a substantial ownership interest in his/her business or investment
- have functional English language
Application Process
Step 1: submits an Expression of Interest (EOI), be nominated by an Australian state or territory government agency and then be invited to apply.
Step 2: Prepare required documents such as evidence venture capital funding and business intentions.
Step 3: Apply for the visa
Step 4: Track and manage your application
Step 5: Get decision on your visa application
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