Business Talent visa is a part of Australian Business Program which aims at expanding the Australian economy. This visa is available by invitation only. Before being invited to apply, you must first submit an Expression of Interest through Skill Select specifying, the business stream you are interested in, whether Significant Business History stream or the Venture Capital Entrepreneur stream. When your Expression of Interest is in Skill Select, it can be viewed and a state or territory can decide whether to nominate you to apply for a visa. States and territories have their own criteria for deciding who they nominate.
The Business Talent visa(subclass 132) has two streams:
The Significant Business History stream – for affluent owners or part owners of a business who want to have a major management role in a new or existing business in Australia.
The Venture Capital Entrepreneur stream – for people who have obtained at least AUD 1 million in funding from an Australian venture capital firm.
- stay in Australia indefinitely
- work & study in Australia
- enrol in Medicare
- apply for Australian citizenship
- sponsor eligible relatives for permanent residence
- travel to and from Australia for five years (from the date the visa is granted)
You must be less 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 relevant region.
Significant Business History stream: If you apply for the Significant Business History stream, you (or your partner, or you and your partner combined) must have all of the following:
- net assets of at least AUD400 000 (in a qualifying business) in at least two of the four fiscal years immediately before you are invited to apply
- total assets of at least AUD1.5 million that can be legally transferred to Australia within two years of the visa being 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 annum, or
- 30 per cent of a business with turnover of more than AUD400 000 per annum, or
- 10 per cent of a publicly-listed company
an overall successful business career with no involvement in unacceptable business activities
a genuine desire to own and maintain a management role in a business in Australia.
Venture Capital Entrepreneur stream: If you apply for the Venture Capital Entrepreneur stream, you must have obtained at least AUD1 million in funding from an Australian Venture capital firm for the start-up, product commercialisation or business development relating to a promising high value business idea.