132 VISA: BUSINESS TALENT

The subclass 132 visa is a permanent visa that allows the applicant to establish a new or existing business in Australia. It has two streams: one is for high-caliber business owners who want to do business in Australia; the other is for people who have sources venture capital funding from a member of the Australian Venture Capital Association Limited.

Who Is Eligible For The 132 Visa?

The applicant must:

  • Have net business and personal assets of at least AUD $1.5million and an annual business turnover of at least AUD $3 million, or
  • Have obtained at least AUD $1 million in venture capital funding to start the commercialisation and development of a high-value business idea in Australia

To be considered for this visa the applicant must first lodge an expression of interest through SkillSelect and then be nominated by a state or territory government agency and are invited to apply for this visa.

What Are The Other Requirements For The 132 Visa?

An application may be successful if:

  • They are nominated by a state or territory government
  • They are invited to apply
  • The applicant and their family members meet health and character requirements
  • The applicants meets the requirements of the steam in which they apply

There are two streams in which someone can apply:

  • Option 1: Significant Business History stream
  • Option 2: Venture Capital Entrepreneur stream

Option 1: Significant Business History stream

There are a series of requirements that the applicant must meet. Some of these requirements are:

  • Younger than 55 years of age
  • Net business and personal assets of at least AUD $1.5 million that can be transferred to Australia
  • A total annual turnover of at least AUD $3 million in one or more businesses for at least 2 of the 4 fiscal years immediately before you are invited to apply
  • No involvement in unacceptable business activities

Option 2: Venture Capital Entrepreneur stream:

There are a series of requirements the applicant must meet. Some of these are:

  • Have received at last AUD $1 million in funding from an Australian venture capital firm
  • The funding must be for the start-up, product commercialisation or business development of a promising high-value business idea
  • The venture capital firm must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL)

What Are The Benefits of a 132 Visa?

This is a permanent residence visa. It also allows for the visa applicant to include dependent children and other dependent relatives on the application, if they fulfill the requirements of being a member of the family unit.

It allows the applicant and their family members to:

  • Stay in Australia indefinitely
  • Work and study in Australia
  • Enroll in Medicare
  • Apply for Australian citizenship when they become eligible
  • Sponsor eligible relatives for permanent residence

Visa Charges

Please refer to the immigration official website for visa application charges.