Business Talent Visa (Permanent) – Subclass 132

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Who is the Business Talent (Permanent) Visa Subclass 132 for?

As part of the Skilled Stream, the Business Talent visa is a permanent residence visa that allows high calibre business people to establish either a new business, or develop an existing business in Australia.

This visa is only open to applicants who have lodged an Expression of Interest, after being nominated by an Australian State or Territory Government agency and having received an invitation by the Department.

The Business Talent visa provides two pathways for business or investor migrants:

  • Significant Business History stream – for high calibre and experienced business owners, or part-owners who want to do business in Australia; or
  • Venture Capital Entrepreneur stream – for applicants who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).

 

Am I Eligible for a 132 Visa?

In order to qualify for any of the pathways under a 132 visa, applicants will first need to; be nominated by an Australian State or Territory government, submit an Expression of Interest (EOI) online, and then be invited by the Department to apply for the visa. You will also need to demonstrate that you have a genuine desire to own and maintain a management role, in a business, in Australia, and that you meet certain Australian health and character requirements.

Depending on which pathway you qualify for, after you have been invited or sponsored, you will need to demonstrate that you meet additional eligibility requirements.

 

For the Significant Business History stream you, your partner, or  both you and your partner combined must have all of the following:

  • Have net assets in a qualifying business of $400,000 for at least two of the four years, immediately before you apply
  • If the business was publicly listed, a minimum shareholding of 10% of the total issued capital is required
  • Have total assets of at least $1.5 million that can be legally transferred to Australia within two years of the visa being granted
  • Have an annual turnover of your main business (or two of your main business combined) of at least $3 million, in at least two of the four years, immediately before you apply
  • Have an overall successful business career with no involvement in any unacceptable business activities.
  • You (and your partner) must also have ownership of at least:
    • 51 percent of a business where the turnover is less than $400,000 per annum, or
    • 30 percent of a business where the turnover is $400,000 or more per annum, or
    • 10 percent where the business is a publicly listed company.

You must also be under the age of 55 at the time of your application, however, the state/territory may waive this requirement if they are satisfied that your business will provide an economic benefit in the location in which it is situated.

For the Venture Capital Entrepreneur stream you must have; entered into a formal agreement with an Australian company, that is a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). This is to demonstrate that you have obtained at least $1 million in funding from an Australian Venture Capital firm, and have provided a letter detailing that the funding is for the start-up, product commercialisation, or a business development, that is considered to be a promising business idea.

 

132 Checklist

How Long Does it Take?

As assessment of eligibility occurs on a case-by-case basis and can vary on the applicant’s circumstances, the time it takes for the Department to process your application will vary.

It is understandable that there will be circumstances that impact the processing time of your visa applications, which may be out of your control. These include; the time for external agencies, namely health and police services, and the Government, to conduct checks and provide supporting information.

 

While the above circumstances are unavoidable, there are some factors which will ensure you a faster processing time. These include:

  • Lodging a complete application, attached with all of the necessary supporting documents.
  • Being prompt in responding to any additional information the Department requests.

 

Fees & Costs

The cost of this visa is priced from $7,130. Please note that this is only the flat rate and you may be asked to pay additional costs to cover requirements such as; health assessments, police certificates, and biometrics.

 

If you wish to add additional family members to your application, an extra fee will be imposed upon your visa application.

 

What Steps Should I Take to apply for a 132 Visa?

Unlike other Migration law firms, Results Migration makes the process of applying for visas straightforward. Our team of expert lawyers will work with you every step of the way and have devised a step-by-step process to ensure your application is processed as fast as possible.

 

1. Schedule a free consultation with our team of expert lawyers, where we will assess and advise you on the Australian visa option that best suits you

2. We will prepare and submit your expression of interest for you through SkillSelect for you.

3. At this stage, we will gather and prepare all of the documentation as well as perform any additional checks that are required to lodge a visa application. Please ensure that you notify us if you have a ‘No further stay’ condition attached to your current visa, so we can arrange for this condition to be waived.

4. After receiving your invitation to apply from the Department, we will begin to prepare your application.  This will then be finalised and lodged in a timely manner.

 

In the meantime, if you are an onshore applicant you will be granted a bridging visa until your current visa expires. This will give you the right to stay in Australia until the outcome of your 132 visa is decided.

 

  1. Finally we will notify you of the outcome. If granted, you will receive the rights listed below.

 

Entitlements of the Business Talent Visa

The Business Talent visa will grant you permanent residence in Australia. It will allow you and your eligible family members:

  • The right to stay in Australia indefinitely.
  • Work and study rights in Australia.
  • The opportunity to enrol in Medicare – Australia’s scheme for health-related care and expenses.
  • Apply for Australian citizenship once you become eligible.
  • Sponsor eligible relatives for permanent residence.
  • Travel to and from Australia for up to five years.
  • Possible qualification for a Special Benefit from Centrelink if you suffer a major change of circumstances beyond your control.

 

132 Visa FAQs

Can I include my family members on my application?

The 132 visa allows you to add your partner and your children, stepchildren or your partner’s children or stepchildren, to your visa application. You will need to provide evidence of their relationship to you in your application and they must meet the relevant health and character requirements.

 

Where do I have to be when I apply for my visa?

You and anyone included on your application can either be in or outside of Australia when you apply and are granted a 132 visa.

 

What are your obligations under this visa?

You and your family members included on your application must comply with all of the visa conditions and Australian laws. You must also satisfy all of your business obligations.

If you are outside of Australia when your visa is granted, you must re-enter Australia by a specified date, and you must tell the Department your residential address within six months of entering Australia. Each time you changed your residential address whilst in Australia, you must also inform the Department within 28 days.

Please note that before entering Australia, your family members may not be able to marry or enter into a de facto relationship, however, this is subject to certain conditions attached to your visa.

 

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October 14th, 2015|0 Comments

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