Business Talent (Permanent) Visa Subclass 132

Business Talent Visa (subclass 132) is a permanent visa designed for high-calibre business people who are owners or part owners of an overseas business and have a genuine and realistic commitment to participate in the management of a new or existing business in Australia. There are two streams under this visa.

 

  1. 132A – Significant Business History stream: for people with ownership interests in large business
  2. 132B – Venture Capital Entrepreneur stream: for people who have access to venture capital funding of at least AUD$ 1million from an Australian venture capital firm

Subclass 132A – Significant Business History Stream

Basic Requirements
You, your partner, or you and your partner combined must have all of the following:

  • AUD1.5 million in total net business and personal assets AUD1.5 million in total net business and personal assets
  • Held net assets of at least AUD400,000 in one or more qualifying businesses in at least two of the four fiscal years immediately before invitation
  • Annual turnover of at least AUD3 million in one or more of your main businesses in at least two of the four fiscal years immediately before you are invited to apply
  • Ownership of at least
    • 51 per cent of a business with turnover of less than AUD400 000 per year 51 per cent of a business with turnover of less than AUD400 000 per year
    • 30 per cent of a business with turnover of more than AUD400 000 per year, or
    • 10 per cent of a publicly listed company
  • Thorough Business Plan outlining business intentions, efforts and proposed benefit to the Australian economy
  • Must also be under 55 years of age and be nominated by a State or Territory

After entering Australia, you must:

  • establish a qualifying business in Australia, or
  • Participate in an existing qualifying business in Australia.
  • maintain substantial ownership
  • maintain direct and continuous involvement in the day-to-day management of the business
  • make decisions that affect the overall direction and performance of the business in a way that benefits the Australian economy.

There are different requirements for subclass 132 visa nominations for every state/territory. Main requirements for each state/territory are listed below:

 

VIC
Minimum $2 million investment + sufficient funds for family settlement + proposed business must provide exceptional economic benefit to Victoria
NSW
Minimum $3 million transferable ($1.5m for business investment)
*More lenient requirements for regional NSW
QLD
Minimum $1.5 million investment ($1m into business and $0.5m for settlement)
WA
Minimum $1 million investment + produce 1 new full-time position
Property development businesses will require $1.5 million investment and creation of 2 full-time positions
SA
Employ 4 full-time local employees for minimum 12 months within 24 months of 132 visa grant, or
Export $600k South Australian products or services, or
Invest $1.5 million into a South Australian business
ACT
Minimum $2 million investment into an ACT business or investment opportunity that provide economic benefit + create 3 positions for local Australians
NT
Minimum $1.5 million investment in existing business or $1 million investment into a Greenfield project

To be eligible to apply;

  • You must be younger than 55 years of age unless the nominating state or territory government certifies that your proposed business is of exceptional economic benefit
  • For at least 2 of the last 4 fiscal years you had:
    • total net assets of at least AUD$400k, or 10% ownership of the business if it is a publicity listed company.
    • Net business and personal assets of at least AUD1.5 million that are legally acquired and can be transferred to Australia within two years after the visa is granted.
    • The business had annual turnover of at least AUD$3M.

Subclass 132B – Venture Capital Entrepreneur Stream

The 132B visa is a direct permanent residence pathway for migrant entrepreneurs who have successfully sourced venture capital funding through a Venture Capital member of the Australian Private Equity and Venture Capital Association Limited (AVCAL).

 

Basic Requirements

  • Must have received at least $1 million in funding from an Australian venture capital firm
  • The funding must be for the start-up, product commercialization or business development of a promising high-value business idea
  • The venture capital firm must be a member of AVCAL
  • Must have entered into a formal agreement with the venture capital firm for the funding

*There is no limit on the age or English

 

After entering Australia, you must:

  • meet the requirements of your venture capital agreement after you enter Australia
  • have a genuine and realistic commitment to continuously maintain an ownership interest and engagement in your business and/or investment.

How can we help?

During the process of your visa application

The conditions for migration to Australia differ in the various business visa streams and for several pathways, audit of financial reports by certified Australian Accountants are required. With extensive experience in audit for the purpose of migration to Australia, Southern Stone performs the audit under the latest immigration laws and requirements in Australia, providing a stream-lined service in preparation for your business visa migration documentation.

 

After your Visa approval when settling in Australia

After your visa grant and upon arriving in Australia, we can provide ongoing support to you in an accounting, taxation, investment and visa compliance capacity as you establish and develop your business in Australia, particularly if your objective is to secure permanent residency status in due course.

 

Specifically, we will provide the following services:

  • Establishing your Australian business entity
  • Advising you on all Taxation and Accounting matters
  • Preparation and lodgment of Annual Financial Statement for your business in accordance with requirement of migration law and accounting standards
  • Preparation and lodgment of annual income tax returns for your business and all your family members
  • Business investment due diligence

Southern Stone International team offers professional consultation and guidance for all Australian Business investment visas. Call us immediately on 03 9419 3188 or email contact@southernstone.com.au to book a consultation with one of our expert registered migration agents in Melbourne.