Business Talent (Permanent) visa (subclass 132)
Business Talent (Permanent) visa (subclass 132), (known as Business Talent Visa) is a permanency visa for applicants who wish to either establish a new business or to participate in an existing business, and to maintain substantial ownership interest, and be involved in the day to day management of the business.
You must have an approved nomination from an Australian State or territory government and be invited to apply for a visa through the SkillSelect system.
Significant Business History stream
This stream is for high-calibre business owners who wish to do business in Australia.
Applicants must have net assets of at least A$1.5M and meet the following additional requirements.
Venture Capital Entrepreneur stream
This stream is for a person who has sources at least A$1M approved venture capital funding to start a high-value business in Australia.
You must have received at least AUD1 million in funding from an Australian venture capital firm who is a member of the Australian Venture Capital Association Limited (AVCAL).
AVCAL has information about the venture capital category of membership in its Venture Capital entrepreneur visa factsheet.
A 132 visa is permanent residency and it allows you to:
- stay in Australia indefinitely
- work and study in Australia
- enrol in Medicare, Australia's health care scheme
- apply for Australian citizenship once 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)
- qualify for a Special Benefit from Centrelink if you suffer a major change of circumstances that is beyond your control.