The Business Talent visa (subclass 132) is a permanent residence visa for business people who are nominated by an Australian state or territory government agency.
They can be in or outside Australia when they apply and when the visa is decided.
An individual might be able to get this visa if:
- They are nominated by a state or territory government
- They are invited to apply by the minister
- They and your family members (whether or not they are included in their application) meet health and character requirements
- They meet the additional requirements for the stream in which you apply.
They must also either:
- Have net business and personal assets of at least AUD1.5 million and an annual business turnover of at least AUD3 million if they intend to apply for the visa in the Significant Business History stream, or
- Have obtained at least AUD1 million in venture capital funding to start the commercialisation and development of a high-value business idea in Australia if they intend to apply for the visa in the Venture Capital Entrepreneur stream.
What this visa allows for:
The Business Talent visa allows the individual to establish a new or develop an existing business in Australia.
This is a permanent residence visa. It lets the individual and any family members who have also been granted this visa:
- Stay in Australia indefinitely
- Work and study in Australia
- Enroll in medicare, Australia’s scheme for health-related care and expenses
- 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 (after that time, they will need a resident return visa or another visa to return to Australia).
Significant Business History stream
The individual, their partner, or both 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 you are invited to apply and if the qualifying business(ss) was a publicly listed company, a shareholding of at least 10 percent 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 your main businesses in at least two of the four fiscal years immediately before you are invited to apply
- Ownership of at least:
- 51 percent of a business with turnover of less than AUD400 000 per year
- 30 percent of a business with turnover of more than AUD400 000 per year, or
- 10 percent 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 individual must also be younger than 55 years of age, although a state or territory can waive this requirement if their proposed business will be of exceptional economic benefit to the region where it will operate.
Venture Capital Entrepreneur stream
The individual must have received at least AUD1 million in funding from an Australian venture capital firm.
The funding must be for the start-up, product commercialisation 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 individual must have entered into a formal agreement with the venture capital firm for the funding.
In addition to the above-mentioned conditions, there are other factors and criteria to be taken into consideration.