What Is the Subclass 132 Visa?
The Subclass 132 Business Talent visa was a permanent visa that was made to bring rich people and successful business owners to Australia who wanted to start or grow businesses there. There are two main parts: Significant Business History and Venture Capital Entrepreneur. Even though new applicants for Australia permanent visa (Subclass 132) can't apply after July 1, 2021, it's still helpful to know how the process works, especially for people who are looking into similar paths under current programs like Subclass 188.
Who Should Apply for the Business Talent Visa?
This visa was for people who had a history of running a business or coming up with new ideas. Candidates included business owners who wanted to grow their businesses and entrepreneurs who had money from venture capitalists. Having a strong business background and wanting to help the Australian economy were both important.
Benefits of the Subclass 132 Visa for Investors and Entrepreneurs
The visa gave you direct access to permanent residency, Medicare, travel benefits, and the right to bring family members. Business owners starting businesses with a lot of potential and investors who want to stay in Australia for a long time found it very helpful with the Australia Permanent visa (Subclass 132).
How Croyez Immigration Assists Business Migration Clients
Croyez Immigration helps you make smart choices at every stage, from figuring out if you qualify to submit your EOI, getting nominated, getting your paperwork in order, and moving. Our expertise ensures that your application is strong and backed up by accurate business and financial data, which cuts down on risks and delays before asking what are the eligibility criteria for the 132 visa in Australia.
Subclass 132 Visa Streams Explained
Significant Business History Stream
This stream needed proof of a business that made a lot of money, had a lot of net assets, and was still owned by the same person. People who wanted to apply had to be under 55 (unless they were really special) and show that they had run a business with at least AUD 3 million in sales in two of the last four years.
Venture Capital Entrepreneur Stream
To be accepted into this stream, applicants had to get at least AUD 1 million in venture capital funding from an Australian company. This method was meant for business owners who were focused on new ideas and had a lot of room to grow and strong support.
Key Differences Between the Two Streams
The Significant Business History stream was great for business owners who had been in business for a while, and the Venture Capital Entrepreneur stream was great for new ideas that had VC backing. The first one looked at how well the company had done in the past, and the second one looked at how well it could do in the future.
Step-by-Step Process to Apply for the Subclass 132 Visa
Step 1 – Assess Your Eligibility
Applicants had to be a certain age, have a certain amount of money, and have made a certain amount of sales. Candidates for venture capital streams had to show that they were creative and had contracts that made them promise to pay back the money. Croyez Immigration does a full profile check to find the right stream for you and make sure you meet the requirements.
Step 2 – Submit an Expression of Interest (EOI) via SkillSelect
Using SkillSelect, applicants sent in their profiles and picked a state or territory where they wanted to be nominated. This meant being honest about money, personal information, and business interests that were in line with what the government wanted.
Step 3 – Get a State or Territory Nomination
Each state or territory had its own rules for nominations based on its own economic plans. Croyez helped pick the right states and change business plans to fit the needs of local growth.
Step 4 – Receive an Invitation to Apply (ITA)
After being nominated, candidates get an ITA to submit their full visa application. It needed proof of business, money, and plans for how to invest. It was very important to turn in submissions on time and in a neat way.
Step 5 – Lodge the Visa Application
People who wanted to apply sent in their tax returns, audited financial statements, asset reports, business plans, and proof of ownership. Croyez made sure the paperwork met the requirements of Home Affairs, which made it less likely that it would be rejected.
Step 6 – Complete Medical and Character Checks
You needed to get a health check and a police clearance. Croyez helped applicants set up appointments with approved clinics and get all the forms they needed to check their backgrounds.
Step 7 – Wait for Visa Decision and Prepare for Relocation
Processing a visa took anywhere from six to eighteen months. During this time, Croyez helped with the move, which included finding a place to live, registering a business, and figuring out how to get settled.
Documents Required for Subclass 132 Visa Application
Identity and Business Ownership Proofs
You had to have passports, birth certificates, and certified translations. Applicants had to show proof that they owned and ran their businesses themselves, such as shareholder agreements or papers showing that the company was registered.
Financial Statements and Asset Valuation
It was important to have complete and accurate financial records, like audited balance sheets, profit and loss statements, and confirmed asset assessments, in order to meet the asset threshold and turnover criteria.
Endorsement Letters, Nomination Forms, and Business Plans
Venture capital firms had to back the nominees, the nominees had to confirm their nominations, and detailed business plans were needed. The business plan had to show how it would help the economy, make jobs, and be in line with Australia's goals for Subclass 132 visa Australia.
Common Mistakes to Avoid When Applying
Incomplete Financial Documentation
It might take longer or be denied if records are missing or not checked. All financial numbers had to be supported by original documents that could be checked against each other when knowing what is the Australia Subclass 132 visa.
Incorrect Business Turnover Claims
If you lie about how well your business is doing or how much money it makes, you could get in trouble when you check. Claims had to be real and supported by tax returns and bank statements.
Ignoring State-Specific Nomination Guidelines
Every state has its own rules about investments and businesses. A lot of the time, they said no to generic applications. It was very important to plan the company's activities in a way that was good for the state.
Why Choose Croyez Immigration for Your Subclass 132 Application
Expert Business Profile Assessment
Croyez looked at the backgrounds of applicants to make sure they met the state's and each stream's requirements. This made it clear how to get nominated and get a visa, which cut down on surprises.
End-to-End Application Support
Croyez took care of everything, from the EOI to the final submission. This included writing the business plan, working with the people who decide who gets to immigrate, and making sure that all the immigration rules were followed.
Personalized Visa Strategy for Entrepreneurs and Investors
Depending on your goals, whether you wanted to grow an existing business or start a new one, Croyez gave you personalised advice. We made sure that your profile was in the right jurisdiction and stream to get the best results.
FAQs About the Subclass 132 Visa
Is the Subclass 132 Visa Still Open for New Applications?
No. As of July 1, 2021, the Subclass 132 visa no longer accepted new applications. But if you ask, ‘Can I still apply for Subclass 132 visa in 2025?’ people who applied before that date are still being looked at. Business owners should now think about applying for the Subclass 188 Business Innovation and Investment visa instead.
What Is the Minimum Investment Required?
The Significant Business History stream needed AUD 1.5 million in assets and AUD 3 million in sales each year. The Venture Capital stream had to get at least AUD 1 million from an Australian VC company.
Can I Bring My Family on a Subclass 132 Visa?
Yes. The visa application included spouses, partners, and children who were dependent on them. They got all the benefits of being a resident, such as being able to work, go to school, and get medical care.
Final Thoughts: Start Your Business Journey in Australia Today
Secure Your Australian PR with the Right Business Visa
There are still ways to get permanent status, even though Subclass 132 is no longer open. The Subclass 188 pathway now has new rules and is open to more people, such as entrepreneurs, investors, and inventors in place of the previous business talent visa Australia (Subclass 132).
Contact Croyez Immigration for a Free Eligibility Assessment
Croyez Immigration helps business owners find other visa options that have the same long-term benefits. Contact us for a free consultation to learn how we can help you achieve your permanent residency for entrepreneurs in Australia business goals.
