Menu Close

132 Business Talent (PR) Visa

  • Miglaw
  • 132 Business Talent (PR) Visa

132 Business Talent (PR) Visa

This is a permanent visa that grants permanent residence status and comes in two different streams:

1. Significant Business History Stream: for large business owners who want to do business in
Australia
2. Venture Capital Entrepreneur Stream: for people with funding of at least AUD 1 million and
have sourced that funding from a member of the AVCAL.

General eligibility criteria:

  • Applicants must be nominated by an Australian State or territory
  • Invited through SkillSelect
  • Show genuine commitment to establish a new business in Australia or work in an existing
    business, maintain ownership, and participate in day to day management

Significant Business History Criteria:

  • Must be under 55 years of age unless business is deemed to have exceptional economic
    benefit
  • In the last 2 years, the business has had net assets of at least AUD 400,000; or
    – 10% ownership if it is a publicly listed company
    – business had annual turnover of at least AUD 3 million for past 2 years
  •  Have net assets of at least AUD 1.5 million
  • Must have an overall successful business career
  •  ownership interest in the main business meets annual turnover requirements
  • have sufficient asset for transfer to NSW for business and living expenses
  • If the proposed business will be in Sydney, applicants must transfer at least $3 million in
    funds to NSW (inclusive of $1.5 million business investment)
  • If the proposed business will be in regional NSW, applicants must transfer at least $2 million
    in funds to NSW (inclusive of $1 million business investment)
  • Have a business plan that evidences that the business will meet NSW business investment
    and job creation requirements (i.e: for Sydney: minimum $1.5 million in business investment
    and at least 5 new full-time jobs; for Regional NSW: minimum $1 million in business
    investment and at least 3 new full-time jobs.

Venture Capital Entrepreneur Criteria:

In simple terms, a venture capital is a type of private equity capital, typically provided by outside
investors to new businesses that promise to grow fast and produce an above-average return.
Applicants must have a venture capital agreement of at least AUD 1 million through a company who
is a member of the Australian Venture Capital Association Limited.
And, applicants must maintain an ongoing management and ownership role in this business.

How to apply:

  1.  Submit and Expression of Interest in SkillSelect
  2. Complete relevant NSW application form
  3. Send application and required documents to NSW Department of Industry
  4. If nominated, apply for the visa

Business visas and business migration is very complex and it is advised that candidates seek professional legal advice to determine whether they have a good chance of qualifying.