Business Talent Visa (subclass 132) Explained

The Business Talent Visa (subclass 132) is a visa program offered by the Australian government to attract and retain successful business owners, entrepreneurs and investors who are interested in establishing or expanding a business in Australia.

There are two streams under the Business Talent Visa (subclass 132)

Significant Business History Stream

This stream is for high-caliber business owners or part-owners who have a successful business career and are willing to own and manage a new or existing business in Australia. To be eligible for this stream you must have a minimum of AUD 1.5 million in net business assets and a minimum annual turnover of AUD 3 million.

Venture Capital Entrepreneur Stream

This stream is for people who have sourced venture capital funding from a member of the Australian Investment Council (AIC). To be eligible for this stream, you must have at least AUD 1 million in funding from an AIC member for the start-up, product commercialization or business development of a promising high-value business idea in Australia.

Apply for a Business Talent Visa (subclass 132)

To apply for a Business Talent Visa (subclass 132), you must first submit an Expression of Interest (EOI) and be invited to apply by the Department of Home Affairs. You will then need to provide evidence of your business skills and experience, as well as evidence of your intention and ability to invest in Australia.

If your application is successful then you and your immediate family members will be granted permanent residency in Australia. You will be able to live, work, and study in Australia indefinitely and have access to healthcare and social services. Additionally, you will be eligible to apply for Australian citizenship after meeting the residency requirements.

Business Talent Visa (subclass 132) Cost

Here is a breakdown of the cost for each stream

Significant Business History Stream

• Visa application fee: AUD 7,855

• Additional applicant fee for a partner or dependent child who is 18 years or older: AUD 3,930

• Additional applicant fee for a dependent child who is under 18 years: AUD 1,970

Venture Capital Entrepreneur Stream

• Visa application fee: AUD 4,110

• Additional applicant fee for a partner or dependent child who is 18 years or older: AUD 2,060

• Additional applicant fee for a dependent child who is under 18 years: AUD 1,030

Business Talent Visa (subclass 132) Permanent Residency

The Business Talent Visa (subclass 132) grants permanent residency to successful applicants and their immediate family members. As a permanent resident, you will have access to a range of benefits such as Medicare (Australia’s publicly funded healthcare system), the ability to sponsor eligible relatives for permanent residency, and access to education and social services. You can also eventually apply for Australian citizenship.

Convert the Business Visa subclass 132 to Citizenship

• Meet the residency requirements: To be eligible for citizenship you must have lived in Australia as a permanent resident for at least four years, including at least one year as a permanent resident immediately before applying for citizenship.

• Pass the citizenship test: You will need to pass a citizenship test to demonstrate your knowledge of Australia and its values, history and democratic principles. The test is conducted by the Department of Home Affairs and can be taken at various locations across Australia.

• Meet other eligibility requirements: You must also meet other eligibility requirements such as being of good character, having a basic knowledge of the English language and having an intention to live or continue to live in Australia.

• Apply for citizenship: Once you meet the eligibility requirements you can apply for citizenship through the Department of Home Affairs.

• Attend a citizenship ceremony: If your application is approved you will be invited to attend a citizenship ceremony where you will make the Australian Citizenship Pledge and officially become an Australian citizen.

Pros and Cons of the Business Talent Visa (subclass 132)

Pros of the Business Talent Visa (subclass 132)

• Permanent residency: The visa grants permanent residency to successful applicants and their immediate family members, allowing them to live, work and study in Australia indefinitely.

• Business opportunities: The visa is designed to attract high-caliber business owners, entrepreneurs, and investors to Australia, providing them with opportunities to establish or expand their businesses in a thriving economy.

• Access to benefits: As permanent residents, visa holders and their family members have access to a range of benefits, such as Medicare (Australia’s publicly funded healthcare system), education and social services.

• Pathway to citizenship: After meeting certain residency requirements, visa holders may be eligible to apply for Australian citizenship which grants additional rights and benefits.

Cons of the Business Talent Visa (subclass 132)

• High eligibility requirements: The visa is designed for high-caliber business owners and investors, so the eligibility requirements can be high, including significant net business assets and minimum annual turnover requirements.

• Cost: The visa can be expensive, with significant visa application fees and additional costs associated with the application process.

• Time-consuming application process: The visa application process can be time-consuming, requiring extensive documentation and evidence of business experience and skills and may take several months to process.

• Responsibility to maintain residency: As permanent residents, visa holders have certain responsibilities to maintain their eligibility for residency, such as abiding by Australian laws and meeting certain residency requirements. Failure to do so can result in the loss of permanent residency status.