Business Talent (Permanent) Visa (subclass 132)
The Business Talent (Permanent) visa (subclass 132) is a permanent visa for business people aspiring to establish and manage a new or existing business in Australia after being nominated by an Australian State or Territory Government agency. This visa is designed to attract business people of the highest calibre to contribute to or participate in the management of a new or existing Australian business and comes under the Business Innovation and Investment Program.
This visa comprises of the following two streams:
· The Significant Business History stream is meant for business people of high calibre, either full or part owners who wish to conduct business in Australia.
· The Venture Capital Entrepreneur stream is for business people who have sourced venture capital funding from a venture capital firm in Australia.
Visa Eligibility Conditions
You need to be invited by the Minister for Immigration and Border Protection to apply for this visa. When the letter of invitation is sent, you must have obtained a nomination from an Australian State or Territory Government agency.
Furthermore, you also need to fulfil any other requirements or eligibility criteria for the stream in which you apply. A few of them are mentioned below:
For the Significant Business History stream
· You must have net business and personal assets of at least AUD 1.5 million which have been acquired legally. These assets should be easily transferrable to Australia within two years of the visa being granted.
· You must have a total annual business turnover of at least AUD 3 million in all of your major businesses combined, in at least two of the four financial years immediately prior to your Visa invitation to apply.
· You must have a largely successful business career.
· You must not have been involved in inappropriate business activities
· You must have a genuine desire to own and manage an Australian business