Business Talent Visa (subclass 132) - When you have state nomination to set up or investment in a business
The Business Talent visa (subclass 132) is one of the subclasses within the Business Innovation and Investment program.
It is meant for prospective immigrants who want to set up or invest into a business in Australia, and who have state nomination to do so. Successful applicants will receive permanent residency in Australia.
The different streams under the Business Talent visa (subclass 132)
The Business Talent visa has two different streams:
- Significant Business History stream: For business owners of a high calibre.
- Venture Capital Entrepreneur stream: For those who have secured venture capital from the Australian Venture Capital Association Limited (AVCAL).
Who can apply?
- Significant Business History stream: You can apply under this stream if you have a net business and personal assets of at least AU$1.5 million and an annual business turnover of at least AU$3 million.
- Venture Capital Entrepreneur stream: You can apply under this stream if you have least AU$1 million in venture capital funding to start the commercialisation and development of a high-value business idea in Australia.
You must comply with the following criteria to be able to apply for a Business Talent visa:
The application process
There are four steps in the application process:
What can you do on a Business Talent visa?
The Business Talent visa (subclass 132) is a permanent residence visa. As such, this permit allows you and your family members to:
- Stay in Australia indefinitely.
- Work and study.
- Enrol in Medicare.
- Apply for Australian citizenship, if you are eligible.
- Sponsor eligible relatives for permanent residence.
- Travel to and from Australia for five years from the date the visa is granted. Subsequent to this, you must apply for a new visa if you do not have citizenship.
There are many horror stories of people placing their faith and money in companies and individuals, only to be let down and lose thousands of their savings.
This makes screening the person or company you approach for advice on Australian immigration a non negiotable step in the process.
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