The Business Talent visa (subclass 132) is a permanent residency visa, which allows individuals to establish a new or develop an existing business in Australia.
It has two streams:
- The Significant Business History stream, for high calibre business owners who want to do business in Australia
- The Venture Capital Entrepreneur stream, for those who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL)
Applicants for this visa must be nominated by a State or Territory Government.
Significant Business History stream
To be eligible under this stream the visa applicant, the applicant’s partner, or the applicant and partner combined must have:
- Total net assets of at least A$400,000 as an ownership interest in one or more qualifying businesses for least two of the four fiscal years immediately before being invited to apply for the visa, plus a shareholding of at least 10 per cent of the total issued capital if the qualifying business(es) is a publicly listed company
- Net business and personal assets of at least A$1.5 million that have been acquired legally, and can be transferred to Australia within two years after the visa is granted
- A total annual business turnover of at least A$3 million from one or more main businesses in at least two of the four fiscal years immediately before being invited to apply for the visa
- An ownership of at least:
- – 51 per cent of a business with turnover of less than A$400,000 per year
- – 30 per cent of a business with turnover of more than A$400,000 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.
Applicants must also be younger than 55 years of age, although a State or Territory can waive this requirement if the proposed business will be of exceptional economic benefit to the region where it will operate.
Venture Capital Entrepreneur stream
To be eligible under this stream the visa applicant the visa applicant must have received at least A$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), and applicants must have entered into a formal agreement with the venture capital firm for the funding.
GM Business – a division of Go Matilda Visas – is your ideal partner for guidance and advice on a business visa strategy.
We are Australian visa advisors, and our Managing Director is a qualified Chartered Accountant in Australia.
We have associates who can provide ongoing support to you in an accounting and tax capacity as you establish and develop your business activities in Australia.
We work with our clients on the basis of fixed fees, and a wish to have a long term relationship based on our expertise, trust and a quality service.
We look forward to hearing from you.