Business Talent visa
Business Talent – Direct Permanent Entry Subclass 132
The Business Talent Subclass 132 is a permanent visa that will require an expression of Interest (EOI) to be prepared and electronically filed with the DIBP.
This visa category is pitched to select business owners and entrepreneurs. States/Territories will be able to invite and draw down their ‘approved’ candidates to apply for this visa through two distinct 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).
Significant Business History Stream
Main criteria for Significant Business History Stream:
- The applicant must be nominated by a State or Territory government agency
- had not turned 55 at the time of invitation to apply for the visa or is proposing to establish or participate in a business that the nominating State or Territory government agency has determined is of exceptional economic benefit to the State or Territory in which the agency is located
- The applicant has overall had a successful business career
- For at least 2 of the 4 fiscal years immediately before the time of invitation to apply for the visa the net value of the assets of the applicant, the applicant’s spouse or de facto partner, or the applicant and his or her spouse or de facto partner together, in a qualifying business or qualifying businesses in which the applicant had an ownership interest was at least AUD 400,000 and if a qualifying business was operated by a publicly listed company, the shareholding of the applicant, the applicant’s spouse or de facto partner, or the applicant and his or her spouse or de facto partner together, was at least 10% of the total issued capital of the company.
- For at least 2 of the 4 fiscal years immediately before the time of invitation to apply for the visa, the applicant’s main business, or the applicant’s main businesses together, had an annual turnover of at least AUD 3,000,000.
- The business and personal assets of the applicant, the applicant’s spouse or de facto partner, or the applicant and his or her spouse or de facto partner together have a net value of at least AUD 1,500,000 and are lawfully acquired and are available for transfer to Australia within 2 years after the grant of a Subclass 132 visa.
- The applicant genuinely has a realistic commitment to establish a qualifying business in Australia or participate in an existing qualifying business in Australia.
- The applicant genuinely has a realistic commitment to maintain a substantial ownership interest in the qualifying business mentioned above and maintain a direct and continuous involvement in the day to day management of the qualifying business from day to day, and in the making of decisions that affect the overall direction and performance of the qualifying business, in a manner that benefits the Australian economy.
In the business, the applicant must also do at least one of the following:
- develop business links with international markets;
- create or maintain employment in Australia;
- export Australian goods;
- produce goods or services that would otherwise be imported;
- introduce new or improved technology;
- add to commercial activity and competitiveness within sectors of the Australian economy