Are you one of those with deep pockets and high ambitions to launch or buy an existing business in Australia, and do well on the international stage? If the answer is YES, you will find the Business Talent Visa Subclass 132 apt for your purpose. You will have to fulfill the different Business visa requirements for Australia for the specific category, to get the visa.
Business Talent Subclass 132
The much talked about and the widely used Business Talent Subclass 132 is basically a Permanent Resident Visa even as it has two categories:
- The Significant Business History Category: It is meant for the proprietors of huge firms who would prefer to have a high-ranking management responsibility in either a new or recognized company/organization in the country.
- The Venture Capital Entrepreneur Category: It is meant for the high-caliber business people, who have access to the Venture capital backing of not less than AUD 1 million.
The Business Talent Visa is a component of the Australian Business Scheme which targets at growing the national economy. While the visa is obtainable by invitation only, prior to getting an invite to apply, it is essential that you first present an Expression of Interest (EoI), via Skill Select, mentioning the particular business class you are interested in– whether the Significant Business History Category or the Venture Capital Entrepreneur Category.
It is also compulsory that you also mention if you are keen in only one or every Australian state & territory. When your EoI is in SkillSelect, the same may be seen, and a state or territory may take a decision if nomination could be given to you, to submit an application for a visa.
Significantly, the various Australian states & territories have their own specific conditions for coming to a decision as to who they offer the prized nomination to. In majority of the circumstances–and prior to a nomination greets way–the applicable state or territory will get in touch with you, to talk over the various business opportunities.
Western Australia Significant Business History Stream
For want of space, here we will talk only about the Western Australia Significant Business History Stream, and also dwell on the various Business visa requirements for Australia for the particular stream.
The visa offers the prized Permanent Residence (PR) position at the first stage. It is mandatory that you have nomination from the Government of the WA to submit an application for the visa.
State Nomination requirements comprise:
- You have a real and truthful obligation to set-up a new firm or organization or buy an existing one.
- You have duly upheld not less than 30% proprietorship share (or 10% where the firm/venture is a publicly listed firm) and directly run a venture which had a turnover of a minimum of 3,000,000 Australian Dollars, for two of the previous 4 financial years.
- Your net assets in the firm/venture were a minimum of 400,000 Australian Dollars for the two of the previous 4 financial years.
- You had total assets of not less than 1.5 million Australian Dollars that can be lawfully moved to Oz, inside two years of the visa being offered.
- You have one-tenth or 10% rights of the firm in case the same is a publicly listed firm.
- Your planned business doings in the region will result in substantial economic advantages for the State.
- You will maintain a considerable proprietorship interest in your planned business activity in the state.
- You will fulfill the business investment, employment making and acquisition of a residence as assigned in your State nomination agreement with the administration of WA, at time of Department of Immigration and Border Protection (DIBP) 24 month Survey of Business Skills Visa Holders (Form 1010).
- You are less than 55 years of age (unless exemption is given under the special situations).
- You (or your spouse) have never been found to be a part of any improper business or investment activities, and you have a pledge to develop and maintain an ownership interest in a business in Down Under, and you will continue direct and incessant involvement in the running of that specific firm/venture.
Now since the business Visa requirements for Australia, under the Western Australia Significant Business History Stream, has been shared with you, make the most of the information and successfully move to the Kangaroo Land with the Business Talent Subclass 132 Visa!
Speak to your visa & immigration agents in case you need any sort of guidance and/or help!