Subclass 132 – Business Talent Visa
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Subclass 132 – Business Talent Visa
This is a permanent visa that allows those people who have required funding or assets to establish a new business or develop an existing business in Australia when nominated by the state or territory government.
Business Talent visa has the following two streams:
Subclass 132 – Significant Business History Stream
This is a permanent visa stream that allows experienced business owners with a significant history of successful businesses to establish a new or operate an existing business in Australia.
Process
Applicant must go through the following process:
- Submit an Expression of Interest (EOI) in SkillSelect online immigration system that will estimate the point score of each applicant. EOI must include skills, qualifications, occupation and business experience
- Get nominated by the state or territory government. If the applicant secured enough high points to be nominated and can fulfil the skill requirement
- Receive the invitation by the Department of Home Affairs to apply for the visa
- Apply for the visa
- Submit the required documents
Eligibility
Applicant must:
- Have a successful business career
- Be the owner of a successful business for at least 2 fiscal years
- Have net asset worth of at least AUD 1.5 million
- Have an annual turnover of at least AUD 3.0 million
- Under the age of 55 or above 55 if authorized by the state or territory government
- Be nominated by the state or territory government
- Have functional English
- Meet health and character requirement
Subclass 132 – Venture Capital Entrepreneur Stream
This visa allows those overseas people who have sourced funding of venture capital from one of the members of Australian Venture Capital Association Limited (AVCAL) to establish a new business or operate an existing business in Australia.
Process
Applicant must go through the following process:
- Submit an Expression of Interest (EOI) in SkillSelect online immigration system that will estimate the point score of each applicant. EOI must include skills, qualifications, occupation and business experience of the applicant
- Get nominated by the state or territory government. If the applicant secured enough high points to be nominated and can fulfil the skill requirement
- Receive the invitation by the Department of Home Affairs to apply for the visa
- Apply for the visa
- Submit the required documents
Eligibility
Applicant must:
- Have a genuine intention to be engaged in the business
- Maintain ownership in business or investment
- Have funding of at least AUD 1 million from the Australian venture capital firm
- Meet the requirements of venture capital agreement
- Have nomination by the state or territory government
- Have functional English
- Meet health and character requirement
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Nasir Nawaz is a Registered Migration Consultant. University of New South Wales postgraduate with Law specialization in Dispute Resolution and having Graduate Certificate in Migration Law and Practice. He has passion about different fields of law and his diverse experience spans Psychology, Dispute Resolution and immigration law.