The Business Talent visa will allow high caliber business people to establish new or develop an existing business in Australia.
This is a permanent visa which has two streams to choose from:
- Significant Business History stream – for high caliber and experienced business owners or part-owners who want to do business in Australia, or
- Venture Capital Entrepreneur stream – for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
Requirements for the Business Talent Visa – subclass 132
- You will need to lodge an Expression of Interest (EOI) before you lodge your visa application so that you can be invited to apply.
- You must also be sponsored by an appropriate regional authority of a State or Territory Government and be invited to apply by the minister.
- You must be less than 55 years of age, although a State or Territory can waive this requirement if your proposed investment will be of exceptional economic benefit to the nominated State or Territory.
- Must have no outstanding debts to the Australian Government before this visa can be granted.
- Depending on which visa stream you would like to pursue you will need to satisfy the relevant requirements below.
For the Significant Business History stream you (or your partner, or you and your partner combined) must have all of the following:
- have net assets in a qualifying business of AUD 400,000 for at least two (2) of the four (4) fiscal years immediately before you apply
- have total assets of at least AUD 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 main business combined) of at least AUD
3 million in at least two (2) of the four (4) fiscal years immediately before you apply
- possess a genuine desire to own and maintain a management role in a business in Australia, while continuously having a direct involvement in the management of that business
- 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 per cent of a business where the turnover is less than AUD 400 000 per annum, or
- 30 per cent of a business where the turnover is AUD 400 000 or more per annum, or
- 10 per cent where the business is a publicly listed company.
For the Venture Capital Entrepreneur stream you must have obtained at least AUD 1 million in funding from an Australian Venture Capital firm for the start-up, product commercialisation or business development relating to a promising business idea