The Business Talent subclass 132 visa grants is for business people with a long term commitment to develop and grow a business in Australia. The subclass 132 visa grants permanent residency to visa holders.
The Business Talent subclass 132 has two streams:
- Significant Business History: for high-calibre business owners who want to have a major role in a new or existing business in Australia.
- VCE Entrepreneur: for Australian VCE funded entrepreneurs.
Significant Business History Applicant Requirements
Business operators applying via the Significant Business History stream need to be able to show that they own one of the following:
net business and personal assets of AU$1.5 million minimum plus a business turnover of AU$3 million
Minimum 10% ownership of a publicly listed company
Minimum 30% ownership of a business with more than AU$400,000 turnover
51% ownership of a business with less than $400,000 turnover.
Venture Capital Entrepreneur Requirements
Australian VCE funding of at least A$1 million to start the developing or commercializing a high value business idea.
Steps to applying for the Business Talent subclass 132 visa
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.
- Submit an EOI, selecting your business destination state of choice.
- The state or territory will assess your EOI and nominate you to apply.
- 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.