The Business Talent (Permanent) Visa (subclass 132) is a permanent residency visa for experienced business people who are nominated by an Australian state or territory government agency. This visa allows successful business people to establish a new or develop an existing business in Australia.
Streams of the Subclass 132 Visa
- Significant Business History Stream: For high-caliber business owners or part-owners who want to do business in Australia.
- Venture Capital Entrepreneur Stream: For individuals who have sourced venture capital funding from an Australian Investment Council (AIC) member.
Key Features
- Permanent Residency: Grants permanent residency to successful applicants and their families.
- Business Opportunities: Allows you to establish or develop a business in Australia.
- Family Inclusion: Permits you to include your family members in your application.
- Access to Australian Benefits: Provides access to Medicare, education, and other benefits available to Australian permanent residents.
Eligibility Criteria
General Eligibility
- Nomination: You must be nominated by an Australian state or territory government agency.
- Age: Generally, you should be under 55 years of age, although some exceptions apply.
- Business Background: You must have a successful business career and a genuine desire to own and manage a business in Australia.
- Ownership: You must have net business and personal assets of at least AUD 1.5 million and a business turnover of at least AUD 3 million.
- Ownership Interest: You must have at least 30% ownership interest in a business (or 10% if the business is a publicly listed company).
- Venture Capital Funding: You must have obtained at least AUD 1 million in funding from an Australian Investment Council (AIC) member for the early-phase start-up, product commercialization, or business development.
Required Documents
- Passport: Copy of your valid passport.
- Nomination Approval: Evidence that your nomination has been approved.
- Business Documents: Financial statements, business activity statements, tax returns, and other documents proving your business history and success.
- Venture Capital Agreement: For the Venture Capital Entrepreneur stream, a formal agreement from an Australian Investment Council (AIC) member.
- Health and Character Documents: Medical examination results and police clearance certificates.
Application Process
- Expression of Interest (EOI): Submit an EOI through the SkillSelect system.
- Nomination: Obtain a nomination from a state or territory government agency.
- Invitation to Apply: Receive an invitation to apply for the visa.
- Lodge Visa Application: Apply online through the Department of Home Affairs website.
- Submit Documents: Upload all required documents and pay the visa application fee.
- Biometrics and Health Checks: Complete any requested biometrics and health checks.
- Visa Decision: Wait for the visa decision from the Department of Home Affairs.
Cost
| Expense | Cost (AUD) |
|---|---|
| Visa Application Fee | $7,850 (primary applicant) |
| Additional Applicant Fee (18+) | $3,930 |
| Additional Applicant Fee (Under 18) | $1,965 |
| Health Examination | $300 – $500 (approx.) |
| Police Clearance Certificates | Varies by country |
Visa Processing Time
- Significant Business History Stream: 75% of applications processed within 33 months; 90% within 39 months.
- Venture Capital Entrepreneur Stream: Processing times vary based on individual circumstances.
Key Points to Remember
- Permanent Residency: This visa grants permanent residency, allowing you to live and work in Australia indefinitely.
- State/Territory Nomination: You must be nominated by a state or territory government.
- Financial Criteria: Different streams have specific financial criteria and business requirements.
- Health and Character Requirements: You must meet the health and character requirements to be granted the visa.
- Long Processing Times: Be prepared for potentially lengthy processing times.
Conclusion
The Business Talent (Subclass 132) Visa is an excellent opportunity for successful business people to establish or develop a business in Australia and gain permanent residency. It offers a pathway for high-caliber business owners and venture capital entrepreneurs to contribute to the Australian economy while enjoying the benefits of living and working in Australia. Ensure you meet the specific requirements for the stream you are applying for and prepare for the detailed application process to maximize your chances of a successful visa grant.
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