Australia Business talent visa subclass 132 is for all those candidates who are interested in establishing a new or want to develop an existing business in Australia.
Australia Business talent visa subclass 132 is for all those business people who have been nominated by a state or territory government agency of Australia
There are two streams for this visa:
- Significant Business History Streams
- Venture Capital Entrepreneur Stream
Significant Business History Streams
This stream is designed for high-calibre business owners or part-owners who want to do business in Australia. In order to get Australia Business Talent visa subclass 132, business owners or part-owners can apply through this stream. This visa holder should establish a qualifying business and must participate in an existing qualifying business in Australia. Candidate should maintain involvement in the management of the business in Australia.
The process time for applications can vary case to case and can also vary due to individual circumstances like:
- whether the candidate has lodged a complete application, including all necessary supporting documents
- how promptly candidate respond to any requests for additional information
- how long it takes to perform required checks on the supporting information provided
- how long it takes to receive additional information from external agencies, particularly in relation to health, character, and national security requirements
- for permanent migration visa applications, how many places are available in the migration program
- For citizenship applications, the time taken to attend a Citizenship Ceremony or receive a Citizenship Certificate.
Business owners or part-owners must have the following requirements:
- They should have the net assets of at least AUD400 000 as the ownership interest in one or more qualifying business for at least of four fiscal years.
- They should have net business and personal assets of at least AUD1.5 million which are legally required and should be transferable to Australia within two years after the visa issued
- They should have a total annual turnover of at least AUD3 million in one or more of their business in at least two years of those four fiscal years
- They should have an ownership of at least :
- 51 per cent of a business with a turnover of less than AUD400 000 per year
- 30 per cent of a business with a turnover of more than AUD400 000 per year, or
- 10 per cent of a publicly listed company
- They should have an overall successful business career
- They should not have any kind of involvement in unacceptable business activities
- They should have a genuine desire to own and maintain a management role in a business in Australia.
Venture Capital Entrepreneur Stream
This stream is for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
Thus, candidates having venture capital funding from a member of Australian Venture Capital Association Limited (AVCAL) can apply through this visa if they want to apply for Australia Business Talent visa subclass 132. This visa holder must meet the requirements of Australian Venture Capital Association Limited (AVCAL).
Candidate must have received at least AUD 1 million in funding from an Australian venture Capital firm. That funding must be for the start-up, product commercialization or business development of a promising high-value business idea. The venture capital firm must be a member of Australian Venture Capital Association Limited (AVCAL)
- In order to get this visa, the candidate needs to submit an expression of interest (EOI) through skill select and after that invitations will be sent to candidates.
- Desired candidates need to meet the following requirements:
- Candidate must be nominated by a state or territory government
- Candidate must be invited to apply
- Candidate must meet the health requirements
- Candidate must meet the health requirements
- A candidate who is a holder of this visa is free to stay anywhere in Australia.
- A candidate can work and study in Australia
- A candidate with this visa can access the Medicare healthcare scheme
- A candidate can get a basic and advanced education in Australia
- Opportunity to apply for Citizenship. After spending a certain time in Australia, a candidate can apply for Citizenship
- The candidates can travel to and from Australia for five years.
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