Business Talent (Permanent) visa (subclass 132)
The Business Talent (Permanent) visa (subclass 132) allows entrepreneurs to start up or create a branch of their business in Australia. They must meet the eligibility requirements set out by the Australian government. The subclass 132 has two streams, they are as follows:
- Significant Business History;
- Venture Capital Entrepreneur.
Significant Business History stream
This stream strictly applies to business owners that possess the requisite business experience and allows them to start up or continue an existing business in Australia.
How Can I Apply for a Business Talent (Permanent) Visa (Subclass 132) – Significant Business Stream
- Possess legally acquired personal assets and net business valued at AUD 1.5 million;
- Demonstrate that the business has generated an annual profit of at least AUD $3 million for a period of 2 years out of 4 years (including payment of government tax and revenue) preceding the invitation to apply for the subclass 132 visa;
- Show a total net assets of at least AUD $400,000 for a period of 2 years out of 4 years (including payment of government tax and revenue) preceding the invitation to apply for the subclass 132 visa
Venture Capital Entrepreneur stream
This stream is applicable to anyone that has received a venture capital funding from an Australian company that is a member to the Australian Venture Capital Association Limited (AVCAL).
Venture Capital Entrepreneur – Eligibility Requirements
- Received at least AUD $1 million an Australian company that is a member to the Australian Venture Capital Association Limited (AVCAL).
Business Talent – Purpose
This visa was created to diversify the Australian economy so that it continues to grow in the wake of the Covid-19 pandemic. It attracts foreign nationals who are experienced entrepreneurs with a credible and legal business with evidence of sufficient annual income.
How Can I Apply for a Business Talent (Permanent) Visa (Subclass 132) – Venture Capital Entrepreneur stream?
All persons that intend to apply for the Business Talent visa must ensure they meet the following requirements before making their applications:
- Received a nomination by a State or Territory in Australia before being invited to apply;
- Received an invitation by an Australian State or Territory to apply for the subclass 132 visa;
- Demonstrate that they have the required funding and are committed to establishing a business in Australia upon entry or joining an existing business upon entry
- Active involvement in the day-to-day operation and responsible for the commercial strategy of the business.
The application process can be broken down to seven distinct steps which are outlined below:
Step one – The applicant must confirm they meet the general requirements for the stream.
Step two – The applicant must submit an expression of interest (EOI) to the Australian Department of Home Affairs. This allows the applicant to duly notify a State or Territory government about their interest in being nominated.
Step three – Once nominated, the applicant will receive a formal invitation to submit a visa application.
Step four – Upon invitation, the applicant prepares the relevant documents and proceeds with the application within 60 days of the invite.
Step five – Lodgement of the application online.
Step six – Department of Home Affairs reviews and processes the application.
Step seven – Once the application is approved, the visa grant notice will be sent to the applicant as proof they are allowed to commence employment in Australia.
What are the benefits of the Business Talent (Permanent) subclass 132 visa?
The Business Talent (Permanent) Visa (Subclass 132) offers all the benefits of Australian permanent residence for you and your family.
- Work and live in Australia indefinitely
- Opportunity to study in Australia
- Enrol in Medicare, Australia’s state-run healthcare program
- Opportunity to apply for Australian citizenship
- Sponsor relatives for permanent residence
- Travel in and out of Australia as you please
Are you eligible for a 132 visa? Book a Migration Consultation to get expert advice.
Need help with your Australian Visa Application?
NO BORDERS: #1 TRUSTED MIGRATION AGENTS
Email: [email protected]
Tel: +61 (07) 3876 4000
We will help you exploring visa options and securing application. No Borders Migration is experienced in the Business Talent (Permanent) Visa (Subclass 132) application, and our lawyers have extensive knowledge in the legal requirements, eligibility criteria, and the supporting documents required. If you would like to start applying for Business Talent Visas, please make an enquiry or book a consultation with one of our knowledgeable and experienced Migration Agents/Lawyers now. Or Simply dial 07 3876 4000 or email: [email protected] and let us help you start wtih your way towards obtaining Business Talent (Permanent) Visa (Subclass 132).
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