What is the Business Talent 132 Visa?
The Business Talent subclass 132 visa is a permanent visa for experienced business owners who wish to establish a new business or develop an existing business in Australia. This visa has two streams:
Significant Business History Stream – for business owners with an overall successful business career who wish to own and manage a business in Australia.
Venture Capital Entrepreneur Stream - for applicants who have venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL) and wish to own and engage in a business in Australia.
What are the eligibility criteria for the subclass 132 Business Talent visa?
For the Significant Business History Stream, you need to have at least $A 1.5 million in personal and business assets, net business assets of at least $A 400,000 and annual business turnover of at least $A 3.0 million for at least two years in the last four years. For more details on the eligibility criteria, you can send us your details, and we are happy to assess and let you know if you are eligible.
Fot the Venture Capital Entrepreneur Stream, you need to have a formal agreement for funding of at least $A1.0 million from an Australian venture capital firm that is a member of AVCAL for a ‘high-value’ business in Australia.
Apart from the financial requirements, you need to satisfy the required age, English language, health and character requirements.
Do I need to prove my English language proficiency?
You need to prove Functional English language proficiency (IELTS band score of at least 4.5). If you or your dependents fail to prove Functional English language proficiency, you can instead pay a second instalment of the visa application charge. Please note that this fee needs to be paid only when requested.
Can my family be included in the Business Talent visa?
Yes, you can include your family members in the application.
Is there a restriction on the type of industries or the type of business, which can be used to establish a new business or operate an existing business in Australia?
For the Significant Business History Stream, there are no restrictions on the type of business you can set up or operate in Australia. For the Venture Capital Entrepreneur Stream, the AVCAL funding must be for either business development, product commercialisation or start-up costs indicating that it must be an early stage ‘high value’ business.