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132 – Business Talent visa (permanent)

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132 – Australia Business Talent visa (Permanent)

As the Australian economy grows, there is an increasing demand for skilled and talented businesspeople and entrepreneurs.

The Business Talent visa (subclass 132) is a pathway to permanent residency for high-calibre business people who wish to do business in Australia, or who have obtained venture capital funding to develop a high-value business in Australia.

There are currently two streams available for potential applicants:

  • The Significant Business History stream is for applicants who have significant experience in starting, managing, or developing a business. To qualify for this stream, applicants must demonstrate net personal and business assets of at least $1.5 million AUD and have a business that generates annual revenue of at least $3 million AUD.

  • The Venture Capital Entrepreneur stream is for applicants who have secured venture capital funding for a new business in Australia. The minimum funding requirement for this stream is $1 million AUD, and the funds must be raised from a member of the Australian Venture Capital Association Limited (AVCAL).

It’s important to note that each state and territory government has its own nomination criteria, and if you’re successfully nominated, you may be invited to apply for a Business Talent Visa.

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Who can apply?

If your Business Talent visa application is approved, you will be granted permanent residency in Australia, allowing you to work and develop a new or existing business in the country.

Before applying for the visa, you must be nominated by a state or territory government agency. To do so, you must first submit an Expression of Interest (EOI) through the SkillSelect online submission platform. If your EOI is accepted, you may be invited to apply for the visa.

Introduction

The Business Talent visa (subclass 132) is a permanent residence visa, which allows the visa holder to remain in Australia indefinitely. This visa provides the holder with the opportunity to establish or develop a new or existing business in Australia and engage in business-related activities.

When a Business Talent visa (subclass 132) is granted, the applicant and their family members are entitled to the following:

  • Reside in Australia indefinitely
  • Work and study in Australia without restrictions
  • Enroll in Australia's public health care scheme, Medicare
  • Apply for Australian citizenship (when eligible)
  • Sponsor eligible relatives for permanent residency
  • Travel to and from Australia for five years from the date of visa grant
  • Access certain social security payments, subject to waiting periods and residency requirements
  • Apply for a permanent resident return visa (RRV) to re-enter Australia after the initial five-year travel facility has expired.

VISA APPLICANTS

This section explains what applicants for the Australia Business Talent are required to do to apply. 

Before applying for a Business Talent visa, candidates must:

  • have completed an EOI and have received an invitation
  • be nominated by a state or territory government
  • pass the health and character requirements (including direct family members who are not applying)
  • meet the requirements for the stream you intend to apply under

VISA HOLDERS

The information below describes your entitlements and obligations when granted a Business Talent visa.

With a Business Talent visa you are entitled to:

  • reside in Australia indefinitely
  • apply for Medicare for health related support and care
  • carry out unrestricted work in Australia
  • study in any Australian educational institution
  • apply for citizenship (when you are eligible)
  • sponsor eligible family members to join you in Australia
  • travel to and from Australia for five years after the visa is granted