This visa allows you to establish a new or develop an existing business in Australia. This visa permits you and any member of your family who has been granted the visa to study, work, reside indefinitely. You can enroll in Medicare and can also apply for Australian Citizenship; if eligible.
It has two streams:
- Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia
- Venture Capital Entrepreneur stream: for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
Requirement: Business Talent Permanent Visa, (Subclass 132)
The Business Talent visa (subclass 132) is for business people who are nominated by an Australian state or territory government agency.
To be able to get this visa you need to submit an Expression of Interest (EOI) through Skill Select and then be invited to apply.
You might be able to get this visa if:
- You are nominated by a state or territory government
- Are invited to apply
- You and your family members (whether or not they are included in your application) meet health and character requirements
- You meet the additional requirements for the stream in which you apply.
- You must meet certain health requirements. The results are usually valid for 12 months.This also applies to all members of your family unit included in your application, whether they are migrating or not.
- You must meet certain character requirements. You must be prepared to provide a police certificate from each country you have lived in for 12 months or more during the past 10 years after you turned 16 years of age. Do not arrange for police certificates until we ask you to.This applies to you and all members of your family unit listed in your application, whether they are migrating or not.
Under Significant Business History Stream
You, your partner, or you and your partner 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(es) was a publicly listed company, a shareholding of at least 10 per cent 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 per cent of a business with turnover of less than AUD400 000 per year
- 30 per cent of a business with turnover of more than AUD400 000 per year, or
- 10 per cent 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.
You must also be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the region where it will operate.
Under Venture Capital Entrepreneur stream
You must have received at least AUD1 million in funding from an Australian venture capital firm.
The 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 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 fact sheet.
You must have entered into a formal agreement with the venture capital firm for the funding.
How Can My Visa Guide Help You?
Our experienced team at MVG thoroughly understands the intricacies and processes involved. We take a strategic approach and holistically represent the case with DoHA in organizing, preparing the required documents and further lodging the visa application.