132 Business Talent Visa

The Business Talent Permanent visa allows you to establish a new business or develop an existing business in Australia. It has two streams:

1. Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia

2. Venture Capital Entrepreneur stream: for those who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL)

Length of stay

Permanently

Cost

AUD 7,855

Location: You and anyone included in the application can be in or out of Australia when the application is lodged and when a decision is made on the visa.

ELIGIBILITY

• Be nominated by an Australian State, Territory or Government Agency
• Submit an EOI through Skillselect and be invited to apply
• Have assets of AUD 1.5 million and business turnover of AUD 3 million (Significant Business History stream) OR have funding of at least AUD 1 million from an Australian venture capital firm (Venture Capital Entrepreneur stream).
• You and your family members (whether they are included in your application or not) must meet health and character requirements
• Have no outstanding debts to the Australian Government

Significant Business History stream

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

• total net assets of at least AUD 400 000 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
• net business and personal assets of at least AUD 1.5 million acquired legally and can be transferred to Australia within two years after being granted the visa
• a total annual turnover of at least AUD 3 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% of a business with turnover of less than AUD 400, 000 per year
  • 30% of a business with turnover of more than AUD 400,000 per year, OR
  • 10% of a publicly listed company
• 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 less than 55 years of age

After entering Australia, you must:

• establish a qualifying business in Australia, or
• participate in an existing qualifying business in Australia.

Venture Capital Entrepreneur stream

You must have received at least 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 you can do with this visa

It lets you and any member of your family unit who has also been granted this visa:

• Stay in Australia indefinitely
• Work and study in Australia
• Enrol in Medicare
• 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).