132 Visa – Significant Business History Stream
How to apply for the Business Talent subclass 132 visa
Significant Business History Stream
Step one. Submit an EOI, selecting your business destination state of choice.
Before applying for this visa, you need to be nominated by a state or territory government. This involves submitting an Expression of Interest, selecting the state or territory you want to be based in. The investment, job creation and asset allocation vary for each state and territory vary, so be sure you understand what your chosen state wants to see.
There is no charge for submitting your expression of interest.
You can submit your EOI in or outside of Australia.
You will receive confirmation confirming your EOI has been received.
You can change your EOI after you submit it if you want to apply for a different visa, or your circumstances have changed. However, you can’t change it once you are invited to apply for the visa.
Step two. The state or territory will assess your EOI and nominate you to apply.
If a state or territory nominates you, you will receive an invitation from Australia’s immigration department to apply for the 132 visa. This can take anything up to 2 years to happen. On receiving the invitation to apply for the 132 visa, you have up to 60 days to submit your visa application.
Your visa application will be supported by supporting documents. These are:
Passport page: You’ll need your current passport page with your photograph and personal details and passport expiry date.
A national identity card if you have one.
Proof of name change if applicable.
If this applies to you, you will need to include documents that prove your change of name. This could be a marriage or divorce certificate, documents that show any other names you have been known by, a lodgement of a name change on the Australian Registry of Births, Deaths or Marriages or equivalent.
You will need to prepare a one page statement summarising your assets and liabilities at a date of your choice three months before you received the invitation to apply for the 132 visa. Also include how you acquired the assets and the source of the funds to buy them.
You’ll need to provide evidence of your ownership of these assets and liabilities against them.
Trust deeds, bank statements, mortgages, valuation certicates, loan agreements, statements, share or bond registers, shares or fixed interest securities, debentures, transfer certificates, loans listed on business statements are all qualifying sources of evidence you can use.
Do you meet the required business and personal assets required for the 132 visa? You need:
Gross Assets of AUD 1.5 million
You, your partner, or both of you combined need to prove you have assets that are at least AUD 1.5 million, that are legally acquired and can be transferred to Australian within 2 years of the visa being granted.
Net Assets of AUD 400,000
You’ll need to show you have had total net assets of at least AUD400,000 in one or more qualifying businesses in at least 2 of the 4 fiscal years before you submit your visa application.
Resume / Curriculum Vitae and Intentions:
Provide a summary and proof of your career and your intentions in Australia.
Your business plan should explain:
your proposed business and investment activities in Australia, including the research you have undertaken into the relevant sector you plan to operate in;
how your these activities will benefit Australia economically;
your intentions and efforts to actively participate in and manage the business.
Show evidence of a total annual turnover of at least AUD3 million in up to two businesses in two of the past 4 fiscal years prior to receiving your invitation to apply.
Provide evidence of your business ownership.
Trust: if your business is a trust provide the full trust deed and amendments, and all names of the trustees and beneficiaries at the time the trust was formed.
Publicly Listed Company: if your business has been a publicly listed, provide proof of at least 10% of the shares being owned by you.
You will need to prove our role in the day-to-day management of your business for two of the last 4 fiscal years prior to being invited to apply for the 132 visa. This evidence should show your responsibility for areas such as business profitability, expenditure, price structure, recruitment, strategic management.
Supporting evidence to show your role in the business can be a business contract, documents authorised by you, minutes of meetings, a one page organisation chart (this must show your position in the business, staff attribution, management reporting lines and functional responsibilities), up to 6 photos of the premises and the business activity.
You will need to include financial statements of your qualifying business. These must be for 2 of the past 4 fiscal years prior to your invitation to apply for the 132 visa. The financial statements should be prepared to International Accounting Standards by an independent accountant.
You will also need to include details of losses, insolvency, receivership, liquidation or bankruptcy.
Australian police clearance: This must be a Complete Disclosure National Police Certificates issued by the Australian Federal Police. These should be no older than 12 months at the time you submit your visa application.
Overseas police clearances: You need to provide a police certificate from every country (including your home country) in which you have spent a total of 12 months or more in the last 10 years since turning 16and also police clearances for each country you have lived in since.
If you have served in the armed forces of any country, you will need to include your discharge papers and military service record.
As well as this, you will need to complete the immigration department’s Form 80 and Form 1221.
English language Requirements
For the 132 visa, all applicants applying on your application will need to prove they have functional English.
If this is not possible, you may be asked to be the second visa application charge for each person applying who does not have functional English.
You’ll need to provide documents proving your partner’s’ identity (eg passport photo page) and their relationship to you.
Establishing your partner’s relationship to you can be done by providing a marriage certificate or providing 12 months of proof that you are in a de facto relationship, such as, joint bank account statements, billing accounts in both names, joint leases or mortgages.
Dependents under 18 years old
You will need to include identity documents, proof of their relationship to you (such as a birth certificate) and character documents where applicable for dependents, such as children, applying with you on your 132 visa application.
You will also need to obtain the written consent (using Form 1229 or by providing a statutory declaration) from anyone else who has a legal right to decide where the child lives and/or is not coming to Australia with the child. This needs to include the signature and photograph of the person who provided this written consent.
If you have dependents who are over 18 years old, you will need to include Form 47a detailing the ways this applicant is dependent on you. You can also include other forms of proof, such as their tax records, evidence they are currently studying and/or they live with you.
If the dependents applying are over 18 years old, you must show how they are dependent on you or your partner. You can include evidence that they live with you, tax records, proof they are currently studying, banks statements showing you have financially supported them.
If one of the dependents applying on your application is over the age of 23 years old, contact us to learn what options are available to you.
Step three. On receiving a nomination, submit your visa application within 60 days, along with supporting documents relating to you, your business history and your proposed business venture.
Your documents can be submitted digitally through the Australian immigration department’s portal, ImmiAccount.
Applying from Hong Kong?
If you are applying from Hong Kong, China, Macau or Taiwan, refer to the document checklist issued by the Australian Consulate General Hong Kong.
When you are ready to submit your 132 visa application, if you are applying from Hong Kong, China, Macau or Taiwan, your visa application will be sent to the Australian Consulate General Hong Kong.
Step 4. Your visa is processed.
You can travel to and from Australia while you wait for the 132 visa application to be processed. Be sure to have a valid visa if you are returning to Australia while your visa is being processed.
While your visa is being processed, you may be asked to have a health examination or biometrics.
You may also be asked to pay the second instalment of the visa application fee.
You can add additional family members to your application while your application is being processed. Additional applicants will also need to meet Australia’s health and character requirements. Use Form 1436
If any information supplied on your application changes, for example, you get a new passport, you have a change of address, the birth of a child, changes to your business status, you will need to add this information to your application.
Step 5. The 132 visa is granted.
Congratulations, you know have permanent residency in Australia. This entitles you to:
stay in Australia permanently to live, work and study;
enrol in Australia’s public health care system (Medicare);
sponsor relatives to come to Australia;
apply for Australian citizenship;
travel to and from Australia for 5 years. (After this time, you will need a Resident Return visa to re-enter Australia as a permanent resident.)
Your 132 visa obligations
- Inform the immigration department of your residential address with 6 months of arriving in Australia;
- Follow the terms of your venture capital agreement;
- Update the department if your contact details or your business status changes.
- Have a genuine and realistic commitment to engage with your business;
- Obtain a substantial ownership interest in an eligible business in Australia
- Utilise your skills in actively participating at a senior level in the day to day management of your business
- You plan to continue to do this.
- Business Talant 132 visa holders who have entered Australia through the Significant Business History Stream will also be asked to complete a Survey of Business Skills visa holders (Form 1010). In addition ,your business activities will be monitored during your first 3 years in Australia for visa compliance reasons.
New Zealand Passport Holders arriving in Australia after receiving a 132 visa
If you hold a New Zealand passport when an immigration officer processes your clearance at the Australian border, please advise them you have a Business Talent (Permanent) visa (Subclass 132) and that you do not want a Special Category visa (subclass 444) which is commonly given to New Zealanders. If you are given a subclass 444 when you have a subclass 132, it may affect your eligibility to apply for Australian citizenship if you wished to do so.
By engaging our registered migration agent, you will automatically receive an update when you can apply for permanent residency, and when your current visa is due expire to give you the opportunity of seeking an extension if you choose to.