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Business Talent (Permanent) Visa Subclass 132

The Business Talent Visa 132 is an Australian visa that allows an individual to establish a new business or extend an existing one in the nation. There are two categories of business visa which are Significant Business History Stream and Venture Capital Entrepreneur Stream. It is a permanent visa which needs to be recommended by a government agency or an Australian state. The applicant needs to be recommended by a concerned person to apply for Subclass 132. They need to have the required funding and assets to establish the business in the country.

For Significant Business History Stream, the applicant needs to earn an income of AUD1.5 Million per annum and Venture Capital Entrepreneur Stream is designed for those individuals who are nominated by Australian Investment Council for sourcing capital funding for their venture. The applicant should have funding of AUD 1 Million from any of the Australia’s capital firm. ISA Migrations & Education Consultants has helped many such business representatives towards getting this visa and understanding the rules and regulations involved in it.

Who Can Apply For Visa 132 Australia?
The Visa 132 Australia is for those applicants who qualify the listed criterion that are stated below:

  • You can be inside or outside the country while applying for 132 Visa but should not be in the immigration clearance.
  • Should be recommended by the government of the nation or any state of the country.
  • The Subclass 132 Visa is applicable if the candidate is nominated by the one who is a resident of the country.
  • For Significant Business History Stream, an individual should have a minimum asset of AUD1.5 million and turnover should be AUD3 Million.
  • For Venture Capital Entrepreneur Stream, the applicant should have a minimum funding of AUD 1 Million from the country’s venture capital fund.

What 132 Visa Lets You To Do in Australia?

The Visa 132 Australia grants the applicant to stay in the country for an indefinite time. They can study as well as work in the nation. Travelling to and from Australia for the initial 5 years is allowed. Sponsor relatives can come and reside in the country. You can enrol in various health care schemes. Applying for citizenship through 132 Visa is easy if you match the entire eligibility criterion.

What are Subclass 132 Visa Requirements?

To attain Subclass 132, need to fulfill certain specifications stated by the nation. It is necessary to meet the Subclass 132 Visa Requirements stated by the Australian government so that your visa application form does not come under rejection.

For both Significant Business History Stream and Venture Capital Entrepreneur Stream visas:

  • Must match the health and character requirements.
  • Must sign the Australian Statement.
  • Must meet the needs of your business.
  • At least have to know Functional English.
  • Need to submit the details of the nomination.
  • No cancellation or rejection of visa should happen while residing in the country.

Only For Significant Business History Stream visa:

  • The applicant should be below 55 years.
  • The net asset should be at least AUD 1.5 Million.
  • Should have a turnover of at least AUD 3 Million.
  • Should have a net worth of at least AUD 400,000.

General Eligibility Criteria for Subclass 132 Visa

The Business Talent Visa 132 is the same as a business visa for any country where the applicant is allowed to extend his or her business in the country. There is certain Subclass 132 Visa Eligibility which needs to be attained while applying for it which is listed below.

For both Significant Business History Stream and Venture Capital Entrepreneur Stream visas:

Health and Character Requirement
You along with your family member who is applying need to meet the character and health requirements that are stated by the nation. If you are applying from outside the nation, your extended family member also needs to match up the requirements that are stated by the government.

Functional English
Applicants above 18 years should have at least functional English or need to pay an installment during the visa application.

Australian Statement
Need to sign the document which states that you will obey the Australian way of life and will respect law and order of the country.

Status of the Visa
Visa should not have been canceled or rejected while you are residing in the country.

Details of the Nomination
The applicant must be recommended by the government of the nation before applying for the visa and they should not withdraw your name while you have applied for the visa or after it is granted.

Ambition towards the Business
You must be a genuine individual who has come to Australia to do a business rather than involving in such activities which are not accepted in the country.

Requirement of the Business
For Venture Capital Entrepreneur Stream, the business holder needs to secure an amount of AUD 1 Million for funding of the business. Need to follow the terms and condition of the venture agreement of the country. The funding must be for the business purpose only.

Only for Significant Business History Stream

Net Worth of the Business
Your venture should have a net worth of at least AUD 400,000 for qualifying for the venture which is earned in last 2 to 4 years before applying for it.

Turnover of the business
Your venture should have a turnover of a minimum of AUD3 Million for 1 or 2 venture and not more than that.

Net Asset Of the business
You should have a net set of a minimum of AUD1.5 Million which is acquired lawfully and you can transfer it once the visa is granted.

Age Requirement
You need to be below 55 years while applying for it.

Subclass 132 Visa Checklist

The Visa 132 Australia needs to maintain a checklist as you know that the process is quite time-consuming. So, it is quite evident that you might drop out certain requirements which are important for the visa. So to avoid this, you need to follow a Subclass 132 Visa Checklist which is demonstrated below:

  • Prior to applying, you must first submit an Expression of Interest that you have been recommended by the Australian government to do a business in the country.

  • Collect all the documents that are required for the visa to be granted such as identity proof, functional English language, health and character requirements, etc.

  • Send for the application form online through ImmiAccount.

  • Must be recommended by someone to apply for this.

  • After sending, check if your application needs any other details or not. You can track your application form through ImmiAccount.

  • After submitting, you need to wait until the application gets accepted.

  • If the application gets accepted, you will receive the details of the visa.

  • And if the application gets rejected, the reason for rejection will be informed to you.

What is Business Talent Visa 132 Processing Time?

The Business Talent Visa 132 Processing Time depends on various factors such as the quality of the application form that is submitted. Whether the form contains all the required documents or not that is needed for the visa to be granted. How quickly you respond to any query that was raised by the concerned authority. The processing time of the Visa 132 Australia is explained below:

Name of the Visa Processing time
75% Applications 90% applications
Significant Business History Stream 23 Months 54 Days
Venture Capital Entrepreneur Stream Not Available Not Available

Summary
The Business Talent Visa 132 is designed for those candidates who wish to develop a new business in the country or extend the existing one. While doing this you can get in touch with us that is Migration Agent Australia who will help you to establish your business in the country. The ISA Migrations & Education Consultants will help you throughout the process of visa application. We will make sure you get professional assistance right from the inception to the final visa outcome!

General FAQs Business Talent Visa 132

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