Business Talent (Permanent) Visa (Subclass 132)
A person who wishes to establish a new business or expand their existing business in Australia with this permanent resident visa an apply for Business talent Stream. This visa requires the applicant to have a minimum net business, personal assets, and annual business turnover, or a minimum in venture capital funding. Applicants must also be nominated to apply by an Australian state or territory government agency.
Benefits of Business Talent Visa (subclass 132)
The applicant and their family members will get all the benefits of Australian permanent Residence which includes :
- The applicant can work and live in Australia indefinitely
- This visa will give an opportunity to study in Australia
- Sponsor relatives for permanent residence
- Travel in and out of Australia as you please
- Enroll in Medicare, Australia’s state-run healthcare program
- Opportunity to apply for Australian citizenship
Eligibility Criteria for subclass 132 Visa
- Applicant should be nominated by a state or territory government
- Should submit an Expression of Interest through SkillSelect and be invited to apply
- Meet health requirements
- Meet Character requirements
Significant Business History stream
If the applicant is an existing business owner who wants to operate an existing business or new business in Australia can apply under this Stream.
- The applicant should have a Networth of AUD 1.5 million
- Applicant should run business with an annual turnover of at least AUD 3 million for 2 years in the past 4 financial years before they apply.
- Should have a Net asset of at least AUD400,000 as the ownership interest in one or more businesses for at least 2 years in the past 4 years before they apply.
Venture Capital Entrepreneur stream
The applicant who has signed venture capital Agreements with a company that is a member of the Australian Investment Council or Australian Private Equity and Venture Capital Association Limited (AVCAL) can apply under this stream.
- Applicant should be less than 55 years of age
- Should receive funding of at least AUD 1 million from the Australian Venture Capital firm.
- The applicant should meet all the requirements as per the Venture capital Agreement.
Nominated by State or Territory Government
Under the Skilled Nomination Visa, the candidate can express their interest on visting Australia and their plans to settle, but it is upto the local or state government to decide whether they require the concerned skill set at that point of time. If the candidate’s skill set are found to be in demand then they are open to apply for the visa program, and they can also select a particular state to live if they have enough knowledge on selection or they can be open to get settled in any state.
- The candidate needs to stay in the concerned state minimum of two years.
- The candidate has to provide their current and the address of territory in which they are about to stay.
- Must have completed all the surveys and post-arrival process before landing in Australia.
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