The Business Talent visa (subclass 132)
About the Visa
The Business Talent visa (subclass 132) allows you to establish a new or develop an existing business in Australia.
Who are eligible (Eligibility and requirement)
The Business Talent visa (subclass 132) is for business people who are nominated by an Australian state or territory government agency.
The person might be able to get this visa if:
· He/she is nominated by a state or territory government
· He/she is invited to apply
· he/she and his/her family members (whether or not they are included in your application) meet health and character requirements
· He/she meets the additional requirements for the stream in which he/she applies
· The candidate must meet certain health requirements. The results are usually valid for 12 months.
· The candidate must meet certain character requirements. He/she must be prepared to provide a police certificate from each country he/she has lived in for 12 months or more during the past 10 years after you turned 16 years of age.
· The candidate must have no outstanding debts to the Australian Government or have arranged to repay any outstanding debts to the Australian Government before this visa can be granted.
Significant Business History stream
The candidate, his/her partner, or the candidate and his/her partner combined must have all of the following:
· Total net assets of at least AUD400 000 as the ownership interest in one or more qualifying businesses for least two of the four fiscal years immediately before the candidate is invited to apply and if the qualifying business(es) was a publicly listed company, a shareholding of at least 10 per cent of the total issued capital
· 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 the candidate’s main businesses in at least two of the four fiscal years immediately before he/she is invited to apply
· ownership of at least:
o 51 per cent of a business with turnover of less than AUD400 000 per year
o 30 per cent of a business with turnover of more than AUD400 000 per year, or
o 10 per cent 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.
The candidate must also be younger than 55 years of age, although a state or territory can waive this requirement if he/she proposed business will be of exceptional economic benefit to the region where it will operate.
Venture Capital Entrepreneur stream
The candidate must have received at least AUD1 million in funding from an Australian venture capital firm.
The funding must be for the start-up, product commercialization or business development of a promising high-value 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 factsheet.
The candidate must have entered into a formal agreement with the venture capital firm for the funding.
What visa lets you do?
· They can stay in Australia indefinitely
· They can work and study in Australia
· They can enroll in Medicare, Australia’s scheme for health-related care and expenses
· They can apply for Australian citizenship (if you are eligible)
· They can sponsor eligible relatives for permanent residence
· They can travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).
· The candidate might qualify for a Special Benefit from Centrelink if you suffer a major change of circumstances that is beyond your control.
From AUD 7,130
You might have to pay additional costs for:
· Additional applicant 18 and over
· Additional applicant under 18
· You might have to pay other costs, such as the costs of health assessments, police certificates, or any other certificates or tests. You are responsible for making the necessary arrangements.
* This is the DIBP prescribed cost of the application. This does not include Migration agent’s fees. To obtain the current fees, kindly refer to the above link or DIBP website.