About Business Talent (Permanent) visa 132

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Business Talent (Permanent) Visa 132

Basic Information: Relevant to intending Business Migrants

Visa Duration:  Permanent

The 132 Business Talent visa consists of a Significant Business History stream and a Venture Capital Entrepreneur stream. It is a permanent residence visa for high achieving business people and people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).

For the Significant Business History stream you must nominated by an Australian state or territory government agency and be invited to apply for the visa, have assets of AUD 1.5 million and business turnover of AUD 3 million or for the Venture Capital Stream you must have funding of at least AUD 1 million from an Australian venture capital firm.

Eligibility

General

• You are nominated by a state or territory government

• You are invited to apply

• You and your family members (whether or not they are included in your application) meet health and character requirements

• you meet the additional requirements for the stream in which you apply

Other Requirements

• An Expression of Interest (EOI) must be submitted

Health

• You must meet certain health requirements the results are usually valid for 12 months.

• This also applies to all dependent family members included in your application, whether they are migrating or not

Character

• You must meet certain character requirements. You must be prepared to provide a police certificate from each country you have lived in for 12 months or more during the past 10 years after you turned 16 years of age. Do not arrange for police certificates until we ask you to. This applies to you and all the dependent family members listed in your application, whether they are migrating or not

Debts to Australian Government

• You must have no outstanding debts to the Australian Government or have arranged to repay any outstanding debts to the Australian Government before this visa can be granted

Benefits

• Stay in Australia with your family indefinitely, (Note: to gain entry with your qualifying family they must be included in your application) work and study in Australia, enrol in Medicare, Australia’s scheme for health-related care and expenses, apply for Australian citizenship (if you are eligible), sponsor eligible relatives for permanent residence, travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia)

Obligations

• You and your family must comply with all visa conditions and Australian laws

Government

Government visa fees: From AUD 7,290
• You might have to pay additional costs for:

• Additional applicant 18 and over
• Additional applicant under 18
• Other costs:

• You might have to pay other costs, such as the costs of health assessments, police certificates, or any other certificates or tests. You are responsible for making the necessary arrangements. There is also a fee for additional family members who are coming to Australia with you

Update: 23 Sep 2018
Information Source: Australian Government – Department of Border Security

Stream Requirements:

Significant Business History stream

General
• You, your partner, or you and your partner combined must have all of the following:

• total net assets of at least AUD400 000 as the ownership interest in one or more qualifying businesses for least two of the four fiscal years immediately before you are invited to apply and if the qualifying business(es) was a publicly listed company, a shareholding of at least 10 per cent of the total issued capital
• 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
• a total 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
• 30 per cent of a business with turnover of more than AUD400 000 per year, or
• 10 per cent of a publicly listed company

• an overall successful business career
• no involvement in unacceptable business activities
• a genuine desire to own and maintain a management role in a business in Australia.
• You must also be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the region where it will operate

__________

Venture Capital Entrepreneur stream

General
• You must have received at least AUD1 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). AVCAL has information about the venture capital category of membership in its Venture Capital entrepreneur visa factsheet
• You must have entered into a formal agreement with the venture capital firm for the funding.

MIGRATION LAWYER | MIGRATION AGENT

Shanthi Silva was admitted as a Lawyer in the Supreme Court of the State of New South Wales, Australia in February 2010. Shanthi is also qualified as a Bachelor of Business with major studies in Industrial Relations and Human Resource Management. Having worked in Government, Industry and Corporate sectors her legal experience includes Compliance law, Industrial Relations and Employment law, and Migration law.

Qualifications
LLB, Grad. Dip Legal Practice
B.BUS (Industrial Relations & Human Resource Management)

LICENCE

Migration Agent

Note: The Australian Government grants Migration Agent Licences to individuals, not corporations. The Migrations Services provided are under the authority of the Migration Agent Licence held by our principal Migration Lawyer, Shanthi Silva.