Business Talent (Permanent) visa (subclass 132)
This visa allows you to establish a new or develop an existing business in Australia. It has two streams:
- Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia
- Venture Capital Entrepreneur stream: for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
You might be able to get this visa if you are nominated by a state or territory government agency and are invited to apply by the minister.
You must also either:
- have net business and personal assets of at least AUD1.5 million and an annual business turnover of at least AUD3 million if you intend to apply for the visa in the Significant Business History stream, or
- have obtained at least AUD1 million in venture capital funding to start the commercialisation and development of a high-value business idea in Australia if you intend to apply for the visa in the Venture Capital Entrepreneur stream.
Significant Business History stream
You, your partner, or you and your partner combined must have all of the following:
- total net assets of at least AUD400 000 as the ownership interest in one or more qualifying businesses for least two of the four fiscal years immediately before you are invited to apply and if the qualifying business(es) was a publicly listed company, a shareholding of at least 10 per cent of the total issued capital
- net business and personal assets of at least AUD1.5 million that are legally acquired and can be transferred to Australia within two years after the visa is 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 year
- 30 per cent of a business with turnover of more than AUD400 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.
- You must also be younger 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 region where it will operate.
Venture Capital Entrepreneur stream
- You must have received at least AUD1 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). AVCAL has information about the venture capital category of membership in its Venture Capital entrepreneur visa factsheet.
- You must have entered into a formal agreement with the venture capital firm for the funding.