132 Visa — Business Talent Visa (Permanent)
What is a 132 Visa?
The subclass 132 visa (Business Talent) is a permanent business and entrepreneur visa. It allows you to establish a new, or develop an existing business in Australia.
The subclass 132 visa also provides a pathway for entrepreneurs to carry out their entrepreneurial activities in Australia.
There are two different types of subclass 132 visas (please click the type you wish to learn more about below):
Subclass 132a visa
Significant Business History Stream
Subclass 132b visa
Venture Capital Stream
When applying for a subclass 132 visa, you must select an Australian State or Territory where you will conduct your business or entrepreneurial activity. It is likely that you will also be required to live in the State or Territory where you will undertake these activities. You will need to receive a nomination from this State or Territory to be eligible for a subclass 132 visa.
The Three-Step 132 Visa Application Process
The process of applying for a subclass 132 visa varies depending on the type of subclass 132 visa that you are applying for.
However, applying for a subclass 132 visa is generally a three-step process:
Step One
SUBMITTING AN EXPRESSION OF INTEREST (EOI) VIA SKILLSELECT
First you must submit an EOI via SkillSelect.
When you submit your EOI, you must choose the Australian State or Territory that you will be conducting your business or entrepreneur activity. In most cases, you will also need to reside in the same State or Territory.
To find out more about lodging an EOI via SkillSelect you can Login Here.
Step Two
THE NOMINATION PROCESS
To be eligible for a subclass 132 visa, you must receive a nomination from an Australian State or Territory.
Once you have submitted your EOI, the State or Territory you selected in your EOI may invite you to make a nomination application.
Each State and Territory will have their own eligibility requirements that you must meet to receive a nomination from them. If you meet these requirements, then the State or Territory may nominate you to apply for a subclass 132 visa.
View The Requirements for Each State and Territory Here
You can find out more about the 132 visa State and Territory government agency eligibility requirements here.
Step Three
VISA APPLICATION
If you have received a nomination from a State or Territory to apply for a subclass 132 visa, you must apply for your subclass 132 visa within 60 days of receiving this nomination. If you meet all the relevant criteria, then your visa application may be approved by the Department of Home Affairs.
Subclass 132 Visa: Criteria
To be eligible for a subclass 132 visa, you must meet the relevant visa criteria for the subclass 132 visa stream that you are applying for. Below is a checklist of the requirements for each subclass 132 visa stream.
Please note that this is not an exhaustive list, and that the migration laws and policies that determine the relevant visa requirements for a subclass 132 visa may change at any time.
Subclass 132 Visa: Common Criteria
There are common criteria that apply to both of the subclass 132 visa streams. You need to qualify for these requirements to be eligible for a subclass 132 visa. The common criteria for a subclass 132 visa include:
- You and your spouse or de facto partner do not have a history of involvement in business or investment activities that are of a nature that is not generally acceptable in Australia;
- The State or Territory that nominated you to apply for your subclass 132 visa, has not withdrawn this nomination; and
- You meet the relevant public interest criterion and special return criteria.
Subclass 132a Visa: Significant Business History Stream
The subclass 132a visa (Significant Business History Stream) is a permanent business visa for experienced business owners which allows you to operate a new or existing business in Australia.
In addition to the common criteria above, the checklist below refers to the other requirements that you will need to meet to be eligible for a subclass 132a visa (Significant Business History Stream).
- You are under 55 years of age, or the State or Territory that has nominated you to apply for a subclass 132a visa (Significant Business History Stream) has determined that the business you are proposing to establish or participate in is of exceptional economic benefit to the State or Territory;
- You have had an overall successful business career;
- For at least 2 of the 4 fiscal years immediately before you received your invitation to apply for a subclass 132a visa:
a. The net value of your and your spouse/de facto partner’s assets in a qualifying business or businesses in which you had an ownership interest in was at least $400,000AUD; and
b. If the qualifying business or businesses mentioned above was a publicly listed company, you and your spouse or de facto partner held at least 10% of the shares in the company; - For at least 2 of the 4 fiscal years before you received your invitation to apply for a subclass 132a visa (Significant Business History Stream), your main business or businesses had an annual turnover of at least $3,000,000AUD;
- You and your spouse/de facto partner have business and personal assets that were lawfully acquired and are worth at least $1,500,000, and these assets can be transferred to Australia within 2 years of receiving your subclass 132a visa (Significant Business History Stream);
- You have a genuine realistic commitment to establish a qualifying business in Australia or participate in an existing qualifying business;
- You have a genuine realistic commitment to maintain a substantial ownership interest in a qualifying business and will maintain a direct and continuous involvement in the management of this business in a manner that benefits the Australian economy.
Subclass 132b Visa: Venture Capital Entrepreneur Stream
The subclass 132b visa (Venture Capital Entrepreneur Stream) is a permanent entrepreneur visa for people who have sourced venture capital funding to operate a new or existing business in Australia.
You must meet the criteria mentioned in the checklist below as well as the common criteria mentioned above, to be eligible for a subclass 132b visa (Venture Capital Entrepreneur Stream).
- You have entered into a legally enforceable agreement with an eligible Australian company to receive at least $1,000,000AUD in venture capital funding for:
a. The early-phase start-up of a business in Australia; or
b. The commercialisation of a product in Australia; or
c. The development of a business in Australia; or
d. The expansion of a business in Australia. - The net value of your business and personal assets provides sufficient funds to settle in Australia;
- You have a genuine realistic commitment to establish a qualifying business in Australia or participate in an existing qualifying business;
- You have a genuine realistic commitment to maintain a substantial ownership interest in a qualifying business and will maintain a direct and continuous involvement in the management of this business in a manner that benefits the Australian economy.
Subclass 132 Visa: Frequently Asked Questions
90% of subclass 132a visa (Significant Business History Stream) applications are processed in 24 months. However, there are currently no standard processing times available for the subclass 132b visa (Venture Capital Entrepreneur Stream).
The current visa application fee for all subclass 132 visas is $7,855AUD. However, this fee can change at any time so it is always best to double check this fee prior to lodging any applications for a subclass 132 visa.
The amount of money you will need to invest to be eligible for a business visa in Australia varies depending on the visa subclass you are applying for. You can find out more information about this by reviewing the visa requirement information for subclass 188, 132 and 888 visas on this website.
The amount of money you need to invest to be eligible to receive a permanent residency visa varies depending on what visa subclass you are applying for. To find out how much money you need to invest to get PR, review the visa requirement information for subclass 188, 888 and 132 visas on this website.
If your subclass 132 visa application is refused, in some circumstances you may be able to appeal this decision. In the event that your appeal is successful, the decision to refuse your subclass 132 visa may be overturned.
