The Business Talent visa (subclass 132) is constructed for highly skilled businessmen who are owners or co-owners of a global business venture and are committed to manage a new or existing business in Australia. It is a permanent residency visa for candidates who are nominated by an Australian state or territory government agency. This Visa program is segregated into two sections:
- Significant Business History stream
For Business owners or co-owners who want to establish their venture in Australia.
- Venture Capital Entrepreneur stream
For skilled individual who has a business capital fund from Australian Venture Capital Association Limited (AVCAL) member.
What you need to be eligible for the Visa Program?
- You must have a nomination by a state or territory government or Australian agency and an ITA by the Minister for Immigration and Border Protection.
- Net business and personal assets of at least AUD1.5 million with business turnover of AUD3 million minimum annually in case of Significant Business History stream.
- AUD1 million as business capital fund to start the marketing and development of a business idea in Australia in case of Venture Capital Entrepreneur stream.
How Business Talent Visa – subclass 132 works?
There are 3 stages involved:
Stage 1 – Skill assessment
The first stage involves completion of a skill assessment under the relevant government authorities. Your Educational and Employment Documents are examined for the required level of skill in your selected stream.
Stage 2 – Expression of interest
After a successful skill assessment, your Expression of Interest (EOI) with an application to obtain a State Nomination is lodged in front of the Australian Government, which will declare your interest to live and work in Australia.
Your expression of interest must specify the stream you wish to apply under and whether you are interested in doing business in just one or more Australian states and territories.
A state or territory government will assess your application and will provide nomination accordingly.
Stage 3 – Visa application
Once you have been issued an Invitation to Apply (ITA), you can submit your final application for Business Talent Visa – subclass 132.
How much time does the process takes?
The Duration for Visa processing depends upon the particular case lodged and is based on personal circumstances.
A time period of 9 months on average is taken to process 132 subclass visa application for overseas applicants.
Benefits for Business Talent Visa – subclass 132
- Establish a new venture or develop an existing business in Australia.
- Live in Australia under permanent residency.
- Work and study in Australia.
- Be a part of Australia’s scheme for health-related care and expenses.
- Apply for Australian citizenship, if eligible.
- Nominate eligible relatives for permanent residency.
- Travel in and out Australia for a period of 5 years from the date of visa grant.