Business Talent (Permanent) Visa (Subclass 132)

This visa allows you to establish a new or develop an existing business in Australia.

Significant Business History Stream

This visa is for experienced business owners, to operate a new or existing business in Australia.

Basic Eligibility

  • be nominated by an Australian state or territory government agency
  • be invited to apply for the visa
  • have the required funding or assets

You must have:

  • a net value of at least AUD1.5 million (lawfully acquired)
  • an annual business turnover of at least AUD3 million for at least 2 of the 4 fiscal years immediately before you are invited to apply
  • a total net asset of at least AUD400,000 as the ownership interest in one or more qualifying businesses for least 2 of the 4 fiscal years immediately before you are invited to apply

With this visa, you can

  • stay in Australia permanently
  • work and study in Australia
  • enrol in Australia’s public health care scheme, Medicare
  • sponsor certain relatives to come to Australia
  • travel to and from Australia for 5 years
  • if eligible apply for Australian citizenship

How long you can stay

This is a permanent visa. It lets you stay in Australia indefinitely.

You become a permanent resident on the day we grant the visa.

For citizenship purposes, your permanent residency starts on the day:

  • we grant the visa if you are in Australia, or
  • you enter Australia on this visa if you are outside Australia

Include family

You can include members of the family unit in your application when you apply and at any time before we decide on your application.

Family members who apply for the visa must meet our health and character requirements.

Family members who are not coming to Australia might also have to meet our health and character requirements.

 

Eligibility Criteria

Be nominated – You must be nominated by an Australian state or territory government agency before being invited to apply for this visa. The state or territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa. If you are nominated for the visa, we will invite you to apply. All state and territory government agencies have their own criteria for deciding who they will nominate.

Have business acumen and ambition –

You must be able to demonstrate:

  • an overall successful business career
  • a genuine desire to own and manage a business in Australia

You or your partner must not have had any involvement in business activities that are of a nature that is not generally acceptable in Australia.

Own a substantial part of a business –

For at least 2 of the 4 fiscal years before you were invited to apply, you, your partner, or you and your partner combined, must have had an ownership interest in one or more qualifying businesses in which your net value was at least AUD400,000. If the qualifying business is a publicly listed company, your shareholding must have been at least 10 percent of the total issued capital.

Have total net assets worth AUD1.5 million or more –

The business and personal assets of you, your partner, or you and your partner combined, must be at least AUD1.5 million:

  • lawfully acquired
  • available for transfer to Australia within 2 years after the visa is granted

Have annual turnover of AUD 3 million or more –

Your total annual turnover must be at least AUD 3 million:

  • from at least 1 business and no more than 2 businesses
  • for at least 2 of the 4 fiscal years immediately before you were invited to apply for this visa

Your ownership interest must be either:

  • 51% or more of a business with turnover of less than AUD400,000 per year
  • 30% or more of a business with turnover of more than AUD400,000 per year, or
  • 10% or more of a publicly listed company

Have total net assets worth AUD 400,000 or more – The total net assets of you, your partner, or you and your partner combined, must be at least AUD400,000 from the ownership interest in one or more qualifying businesses, gained over at least 2 of the 4 fiscal years immediately before you were invited to apply for this visa.

Have functional English language

Be this age – You must 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.

Meet health and character requirement –

Sign the Australian values statement –

If you are 18 years of age or older, you must:

  • have read, or had explained to you, the Life in Australia and
  • sign an Australian Values Statementthat confirms you will respect the Australian way of life obey Australian laws

 Have paid back your debt to the Australian government – If you or any family members (including those who do not apply for the visa with you) owe the Australian Government money, you or they must have paid it back or arranged to pay it back.

 

Not have had a visa cancelled or a previous application refused – You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.

Venture Capital Entrepreneur Stream

This visa is for people who have sourced venture capital funding from a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)).

  • ​You must have funding of at least AUD 1 million from an Australian venture capital firm.

With this visa, you can

  • stay in Australia permanently
  • work and study in Australia
  • enrol in Australia’s public health care scheme, Medicare
  • sponsor certain relatives to come to Australia
  • travel to and from Australia for 5 years
  • if eligible, apply for Australian citizenship

Newly arrived residents may have to wait before they can access certain Australian Government payments and benefits.

How long you can stay

This is a permanent visa. It lets you stay in Australia permanently.

You become a permanent resident on the day we grant the visa.

For citizenship purposes, your permanent residency starts on the day:

  • we grant the visa if you are in Australia, or
  • you enter Australia on this visa if you are outside Australia

Include family

You can include members of the family unit in your application when you apply and at any time before we decide on your application.

Family members who apply for the visa must meet our health and character requirements.

Family members who are not coming to Australia might also have to meet our health and character requirements.

Eligibility Criteria

Be nominated – You must be nominated by an Australian state or territory government agency before being invited to apply for this visa. The state or territory government agency that nominates you must not withdraw their nomination after you apply, or we will be unable to grant you a visa. If you are nominated for the visa, we will invite you to apply. All state and territory government agencies have their own criteria for deciding who they will nominate.

Have business acumen and ambition –

You must have a genuine and realistic commitment to:

  • maintain a direct and continuous involvement in the day-to-day management of the eligible business
  • maintain a substantial ownership interest in your business or investment

Meet venture capital requirement –

You must have:

  • secured at least AUD1 million in funding for a high-value business idea
  • entered into an enforceable agreement with an Australian venture capital firm for the funding

You must follow the terms of your venture capital agreement after you enter Australia.

The venture capital firm must be a member of the Australian Investment Council (AIC) (formally known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)). The category of membership must be that of Venture Capital Membership.

Funding must be for:

  • business development or expansion of a business in Australia
  • the commercialisation of a product in Australia
  • early phase start-up of a business in Australia

Have functional English language

Meet health and character requirement

Sign the Australian values statement – If you or any family members (including those who do not apply for the visa with you) owe the Australian Government money, you or they must have paid it back or arranged to pay it back.

Not have had a visa cancelled or a previous application refused – You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.