Visitor Visas are something that individuals aspire for these days. There are multiple advantages that one can enjoy using this Visa, and it also serves many purposes. Visitor visas are non immigrant visas for individuals who want to visit a particular place. Individuals from India, the UK, Europe and even Australia can apply for this Visa. Here, we are specifically focusing on Business Talent Permanent Visa Subclass 132, which allows individuals to expand their existing business or start a new business in Australia. There are some eligibility criteria for applying for this Visa. These criteria, if fulfilled properly, will give you the maximum benefits.
Benefits of Applying for Business Talent Permanent Visa Subclass 132:
This Visa lets you enjoy almost all perks and privileges as a permanent resident of Australia. The benefits can be enjoyed by your family members as well. Here is a list of the general
- The Visa lets you reside and work in Australia for an indefinite time.
- You can reside in Australia along with your family members.
- You can continue your education in Australia with this Visa.
- It also allows you to apply for Australian citizenship if you fulfil the eligibility criteria of the same.
- The Visa allows permanent residence to your relatives if they are sponsored.
- The Visa allows an individual to travel out of the country when needed.
- Most importantly, you can enrol yourself in the Medicare program, which is Australia’s healthcare program run by respective states.
Business Talent Visa Subclass 132 Eligibility Criteria
There are several criteria that an individual needs to meet to get the application approved successfully. There are different criteria for the ones with existing business and the ones for establishing a new business in Australia.
- Expansion of existing business:
- The applicant should have a gross income of approximately 1.5 million AUD.
- The business run by the applicant should have an annual turnover of approximately 3 million AUD for 2 consistent years of tenure of 4 financial years.
- An ownership interest of about 400,000 AUD for at least the past 2 years should be fulfilled. The interest amount can come from a single business or multiple.
- Venturing into a new business:
For applying for a new business, the individual has to sign the Venture capital Agreements with a company already a member of the Australian Investment Council or Australian Private Equity and Venture Capital Association Limited (also known as AVCAL). There are criteria needed to be matched for this too:
- The applicant should have an age below 55 years.
- The individual should be provided with funding of at least AUD 1 million from the Australian Venture Capital firm.
- The Venture capital Agreement has set a list of requirements to be matched for this purpose.
Apart from these, some general criteria require to be matched before applying for any Visa.
- The applicant should have a character certificate in hand.
- Financial standards and details regarding your profession should be informed to the authority before starting the application process.
- There must be a health certificate issued under the name of the applicant.
- A convincing reason for residing in Australia should be provided during the meeting session with the Visa officer.
- A valid passport of an eligible country is an important document for application.
The application process for business talent permanent visa subclass 132:
The application process is a long one, but if you follow the steps meticulously, you will get your job done.
- The primary step is to make sure that you have matched all the eligibility criteria and requirements for the Business Talent Permanent Visa Subclass 132. Check whether you have paid attention to the details of the branch you are applying for, Significant Business Stream or the Venture Capital Entrepreneur Stream.
- The next step is to submit an Expression of Interest or EOI so that the state or territory governments can examine your business conditions and take the necessary decision to approve you or not. In case of a successful nomination by the government, you will receive an invitation to apply for Subclass 132 visa through Skill Select. You will be given 60 days to complete the application process online.
- Before filling out the application form, keep the required documents at hand. Check all the documents that have been asked for and carefully arrange them all.
- The next step is very crucial as you start applying online. Keep the arranged documents ready and the Visa application fee paid online. Read through the instructions carefully and fill out the form. After filling out the form successfully and paying the fees online, wait for the final notice.
- You may need to wait for a few months while the decision is made.
- Once you receive a green signal that your application has been approved, you will be asked to collect your Visa. You can start any further work according to your plans using this Visa.
The processes mentioned above and details should be followed for a smooth application process and to receive the Business talent permanent visa subclass 132. However, if any confusion arises, you can directly get in touch with the concerned authority by browsing through the net.
FAQ- business talent visa subclass 132
A subclass 132 visa is a permanent visa for those with the skills and qualifications to fill gaps in Australia’s labor market. The subclass 132 visa is a permanent residence visa, meaning you will no longer be subject to the usual three-year restriction on most temporary visas for employment. It allows you to bring your spouse and dependent children. Applicants must obtain an employer nomination before applying for a visa.
You will need to be nominated by a state or territory government, have an occupation on the current skills list, and have at least 2 years of work experience in your nominated occupation. You must also meet health and character requirements for business talent permanent visa subclass 132. Suppose you are not nominated by a state or territory government but still want to apply for this visa. In that case, you can make an Expression of Interest, demonstrating that you are qualified for the nomination criteria. If you pass this assessment process, your details will be included in a bunch of people who can be referred for nomination.
No, an employer sponsor is not required to apply for business talent permanent visa subclass 132. You can work for yourself or your own company. Here are some of the requirements for a subclass 132 visa. You must have a business that has been registered for at least two years and is generating more than $2 million in annual turnover (previously known as ‘annual gross revenue’). You must have been nominated by the State or Territory government where you want to establish your business. Nomination application costs vary depending on the state. You also must provide evidence of adequate funds for establishing your business in Australia, including access to capital to finance start-up costs and working capital.
You can apply for the business talent visa subclass 132 if you’re a businessperson from a country outside of Australia who is -an ‘augmented investment stream’ applicant. Invited to apply by Innovation and Science Australia (ISA); Invited to apply by an Australian State or Territory government agency that has entered into a Memorandum of Understanding with ISA; Nominated by a State or Territory government agency.
It can take up to six months from the date of application for a decision on a business talent permanent visa subclass 132 application. In some cases, it may be more than six months. It also depends on the applicant’s country of residence and the workload of our officers.
Unfortunately, you cannot change jobs if you are on a Business Skills visa. This is because your employer has to sponsor you for this visa, and the approval process takes a long time. Once the approval process is complete, it will be too late to change jobs.
Applicants must be nominated by a state or territory government and meet certain criteria. The application process for Business Talent Visa Subclass 132 is competitive, with only 200 positions available each year. Applicants must have access to at least AUD 200,000 in investment funds to get started in Australia and an entrepreneurial background that meets the Visa’s requirements.
You can work in any business you like, but you’ll be limited to working in a nominated regional area. Suppose your employer is looking for someone with a specialist skillset (e.g. doctors). In that case, they will need to provide evidence of the shortage of that profession and that they cannot find a suitably qualified Australian citizen or permanent resident to fill the position.
To be eligible for the Business Talent Visa Subclass 132, applicants must have a lawfully operating business in Australia, and they must be under 55 years of age. This Visa will allow you to work for your business or someone else’s business in Australia. Applicants must prove that they have been lawfully running their business outside Australia for at least two years. They also need to meet various health, character, and security checks before being granted this type of Visa.
The processing time for a Business Talent Visa Subclass 132 is currently between 7-14 days. The applicant must first be invited to apply by the Department of Immigration and Border Protection (DIBP). Once invited, they then need to lodge their application with DIBP. Once this is completed, the applicant will receive a receipt indicating that their application has been installed. If they are eligible, they should be granted a visa within 14 days from the date of lodging.
To submit a subclass 132 visa application, the applicant must pay a non-refundable fee of AUD 1,600. This comprises $900 for the initial application and $700 for the nomination application. An additional fee of AUD 255 is also payable if you have been nominated by an Australian state or territory government. You will be issued confirmation of your eligibility to apply when you make your payment.
The following requirements must be met to be eligible for the Business Talent Visa Subclass 132: You must have two years of continuous full-time experience and at least three years overall experience in your profession. You must have been nominated by a state or territory government agency and endorsed by a state or territory government agency, an employer, or a peak industry body. You must demonstrate that you have international recognition in your field. Your skills cannot be readily available in Australia on another type of work visa. You must not already hold permanent residency status in Australia.