The Business Talent Visa (Subclass 132) is available for high-calibre business owners and entrepreneurs who are keen to invest in Australia. Australia being one of the most robust and stable economies of the world, is a highly attractive option for business migration aspirants who intend to start, develop, or expand an existing business in Australia. An increasing number of foreign entrepreneurs who wish to invest in Australia are looking forward to call this beautiful country their home.
You must be nominated by an Australia state or a territory government in order to apply for this visa. As a provisional visa, the Subclass 132 is only valid for four years initially, which can be converted into a permanent residency visa through the Business Innovation and Investment (Permanent) (subclass 888) visa. Applicants are also required to show steady growth in their business in Australia and the nominated state for the last 4 years.
Subclass 132 Visa- Benefits
- Live, work, and study in Australia permanently
- Sponsor your eligible family members
- Set up a new or manage an existing business in Australia
- Apply for an Australian citizenship after meeting certain conditions
- Travel in and out of Australia as and when you want
- Apply for Medicare and other Social care benefits funded by the government of Australia.
The Business Talent Visa Subclass 132- Basic Eligibility
- Be under 55 years of age
- be nominated by an Australian state or territory government agency
- be invited to apply for the visa
- have the required funding or assets to start the business in Australia
Business Talent Visa (Subclass 132) – Pathways for Investment
The subclass 132 visa can be divided into two categories:
- Significant Business History stream
- Venture Capital Entrepreneur stream
Now, let’s talk about both streams in detail:
Significant Business History stream- the visa is created for experienced and high net-worth business owners who want to operate a new, manage or expand an existing business in Australia. The visa allows you to stay in Australia permanently and bring eligible family members with you.
Who is Eligible under Significant Business History stream?
- Applicants must be nominated by an Australian state or territory government agency.
- Demonstrate a relevant experience of managing a successful business in your home country
- Have genuine interest and commitment to start a new business in Australia
- Have total net assets worth AUD1.5 million (lawfully acquired).
- The business must have an annual turnover of AUD3 million or more for at least two years out of four fiscal years.
- You must own a substantial interest in one or more qualifying business in which your net value must be at least AUD400,000
- Have proficiency in the English language
- Meet health and character requirements
Venture Capital Entrepreneur stream- the visa is a suitable choice for business visa aspirants who are able to secure venture capital funding from one of the members of Australian Investment Council (AIC).
Who is eligible under Venture Capital Entrepreneur Stream?
- Be nominated by an Australian state or territory government.
- Have a genuine and realistic commitment to start a business in Australia
- You must have secured at least AUD1 million of funding for your business
- Be under 55 years of age
- Have sufficient English language skills
Subclass 132 Visa- Processing time and Fee
Irrespective of which visa stream you are applying for, the processing time under the Subclass 132 may vary from applicant to applicant. How swiftly your file will be processed depends a lot on your documents and how promptly you respond to the DHA requests.
The processing fee for both streams is AUD7, 855.
Do you have history managing or owing a successful business? Do you have a mind-blowing business idea that can benefit Australia? If yes, then what are you waiting for. Apply for Subclass 132 visa and kick-start your journey of migrating to Australia today!