Business Talent Visa (Subclass 132) (Closed)
Business Talent (Permanent) Visa (Subclass 132)
Update 1 July 2021: This visa is closed to new applications.
This Business Talent Visa is a permanent residence visa for business people who are nominated by an Australian state or territory government agency, to establish a new or develop an existing business in Australia.
The Business Talent Visa is available to applicants in 2 streams:
- Significant Business History Stream: For high-calibre business owners or part-owners who want to do business in Australia.
- Venture Capital Entrepreneur Stream: For people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
Significant Business History Stream:
To be eligible under this stream, you or your partner, or you and your partner combined, must have all of the following:
- Total net asset of at least AUD400 000 as the ownership interest in one or more qualifying businesses for at least two of the four fiscal years immediately before you are invited to apply.
- Net business and personal assets of at least AUD1.5 million that are legally acquired and can be transferred to Australia within two years after the visa is granted.
- A total annual turnover of at least AUD3 million in one or more of your main businesses in at least two of the four fiscal years immediately before you are invited to apply.
- Ownership of at least:
- 51 percent of a business with turnover of less than AUD400 000 per year.
- 30 percent of a business with turnover of more than AUD400 000 per year, or
- 10 percent of a publicly listed company.
- An overall successful business career.
- No involvement in unacceptable business activities.
- A genuine desire to own and maintain a management role in a business in Australia.
You must also be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the region where it will operate.
Venture Capital Entrepreneur Stream:
- You must have received at least AUD1 million in funding from an Australian venture capital firm.
- The funding must be for the start-up, product commercialisation or business development of a promising high-valued business idea.
- The venture capital firm must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). AVCAL has information about the venture capital category of membership in its Venture Capital entrepreneur visa FAQ.
- You must have entered into a formal agreement with the venture capital firm for the funding.
While there are many migration agencies to choose from in Australia, the level of efficiency and knowledge is vital.