Business Talent (Permanent) Visa (Subclass 132)
The Business Talent Visa SC132 is a permanent visa designed for applicants who would like to establish a new business or expand their existing business in Australia with the Subclass 132 visa. This visa requires that applicants have a minimum amount of net business assets, personal assets and annual business turnover, or a minimum investment in venture capital funding. They must also be nominated to apply by an Australian state or territory government agency.
Applicants may be eligible for this visa if they:
- are younger than 55 years of age (unless state and territory government waive this requirement if their proposed business is of exceptional economic benefit to the relevant region)
- have been nominated by an Australian state or territory government
- have lodged an Expression of Interest (EOI) and received an invitation from Department of Immigration to apply for this visa.
The Business Talent Visa has no requirement to meet points test.
There are two streams to The Business Talent Visa, they are;
- Significant Business History Stream for people with ownership interests in large businesses
To be eligible for Significant Business History Stream, an applicant (or the applicant and their partner combined) must have all of the following:
- net assets of at least AUD400 000 (in a qualifying business) in at least 2 of the four fiscal years immediately before they are invited to apply
- total assets of at least AUD1.5 million that can be legally transferred to Australia within two years of the visa being granted
- a total annual turnover of at least AUD3 million (in one or more of their main businesses) in at least 2 of the four fiscal years immediately before they are invited to apply
- ownership of at least:
- 51 percent of a business with a turnover of less than AUD400 000 per annum, or
- 30 percent of business with a turnover of more than AUD400 000 per annum, or
- 10 percent of a publicly-listed company
- an overall successful business career with no involvement in unacceptable business activities
- a genuine desire to own and maintain a management role in business in Australia.
- Venture Capital Entrepreneur Stream for people who have access to venture capital funding of at least AUD 1 million
For the Venture Capital Entrepreneur Stream, applicants must have a venture capital funding agreement of at least AUD 1 million through an Australian company who is a member of the Australian Venture Capital Association Limited (AVCAL) for the start-up, product commercialisation or business development relating to a promising high-value business idea.