1. What is a Business Talent Visa (subclass 132)?

A Business Talent Visa (subclass 132) is a type of visa for individuals who have a successful business career and want to establish or develop a business in Australia. It is a permanent visa that allows the applicant and their family members to live, work, and study in Australia. This visa has two streams: Significant Business History Stream and Venture Capital Entrepreneur Stream. Each stream has its own eligibility criteria, requirements, and benefits.

2. Am I eligible for a Business Talent Visa?

To be eligible for a Business Talent Visa (subclass 132), you must meet the following requirements:

1. Have a genuine and realistic commitment to either establish or participate in an actively operating business in Australia.

2. Be nominated by an Australian State or Territory government agency or Austrade.

3. Meet the age requirement of under 55 years old, unless exceptional circumstances can be demonstrated.

4. Provide evidence that you and your accompanying family members have sufficient assets and income to settle in Australia.

5. Meet the English language requirement of Competent level (or higher).

6. Have held ownership interest and played an active role in managing one or more qualifying businesses for at least two out of the four fiscal years immediately before lodging your visa application.

7. Have an overall successful record of business activity including significant personal assets derived from that business.

8. Agree to make a designated investment of at least AUD $1,500,000 in a state or territory government security.

9. Demonstrate a net value of personal and business assets of at least AUD $400,000.

10. Have no involvement in unacceptable activities such as criminal activity, people smuggling, genocide, war crimes, etc.

It is important to note that meeting these eligibility requirements does not guarantee the approval of your visa application. The Department of Home Affairs will also assess other factors such as your business experience, economic benefit to Australia, and character requirements when considering your visa application.

3. What are the two streams of the Business Talent Visa?

The two streams of the Business Talent Visa are:

1. Significant Business History Stream – This stream is for high-caliber business owners or part-owners who want to establish, develop and manage a new or existing business in Australia.

2. Venture Capital Entrepreneur Stream – This stream is for people who have obtained funding of at least AUD 1 million from an Australian venture capital firm to either start-up a new business or develop an existing one in Australia.

4. Can I apply for a Business Talent Visa if I already have a business in Australia?

Yes, you can apply for a Business Talent Visa if you already have a business in Australia. However, you will need to meet the eligibility criteria and provide proof of your business’s success and potential for growth. You may also need to undergo a business assessment by the Australian government to demonstrate that your business is beneficial to the country’s economy. It is recommended that you seek advice from a migration agent or lawyer to ensure that your application meets all the requirements.

5. How long does it take to process a Business Talent Visa?

According to the Department of Home Affairs, it takes an average of 9 to 13 months to process a Business Talent Visa (subclass 132). However, processing times may vary depending on individual circumstances and the completeness of the application. It is important to ensure that all necessary documents are submitted accurately and in a timely manner to avoid any delays in processing. Additionally, if further information or evidence is requested by the department, this can also extend the processing time.

6. Is there an age requirement for the Business Talent Visa?

Yes, the primary applicant for the Business Talent Visa must be under 55 years old unless they are nominated by a state or territory government agency. There is no age limit for secondary applicants. In exceptional cases, those over 55 may also be eligible if they can demonstrate exceptional economic benefits to Australia.

7. Do I need to have a minimum net worth to apply for this visa?

In general, there is no minimum net worth requirement for applying for a visa. However, some countries may have specific investment or financial requirements for certain types of visas, such as investor visas or entrepreneur visas. These requirements can vary greatly depending on the country and your individual circumstances. It is best to check with the embassy or consulate of the country you are interested in immigrating to for specific requirements.

8. Can I bring my family members with me on this visa?

If you have a dependent family member, such as a spouse or child, they may be able to accompany you on this visa. You will need to include them in your visa application and provide evidence of your relationship, such as marriage certificate or birth certificate. They will also need to undergo the same medical and character checks as you do. However, if they are not included in your application or are not considered a dependent family member, they will not be able to come with you on this visa.

9. What are the documents required for a Business Talent Visa application?

The documents required for a Business Talent Visa application may vary depending on the specific stream you are applying under. Generally, the following documents are required:

1. Identity and personal documents: These include a valid passport, birth certificate, national identity card, marriage certificate (if applicable), etc.

2. Business documents: These include business registration certificates, financial statements of the business, tax returns, business activity statements, partnership agreements (if applicable), etc.

3. Evidence of net assets and income: You will need to provide evidence of your personal and business assets and income to meet the minimum requirements for the visa.

4. Skill assessment: If you are applying under the Significant Business History stream, you will need to provide a skill assessment from a relevant assessing authority.

5. Detailed business proposal: Under the Venture Capital Entrepreneur stream, you will need to provide a detailed proposal outlining your intended entrepreneurial activities in Australia.

6. Written statement: You may be required to provide a written statement detailing your commitment to maintaining an ownership interest in an Australian business.

7. CV/Resume: A current CV or resume outlining your education and work experience is generally required for all streams of the Business Talent Visa.

8. Statements from referees: You may be asked to provide written statements from individuals who can attest to your skills and experience in managing a business.

9. Health and character documents: You will need to undergo health examinations and obtain police certificates from all countries you have lived in for more than 12 months in the past 10 years.

It is important to note that these are general requirements and additional documents may be requested based on individual circumstances or specific requirements of each stream. It is recommended to carefully review all requirements before lodging a visa application.

10. Is there an English language requirement for this visa?

Yes, applicants for the Investor Visa must demonstrate their ability to communicate effectively in English. This can be proven by passing an approved English language test or showing that you have a degree taught in English or have previously lived in a majority English-speaking country. Alternatively, if you are a citizen of a majority English-speaking country, you will automatically meet the language requirement.

11. Can I apply for permanent residency through the Business Talent Visa?

Yes, the Business Talent Visa is a pathway to permanent residency in Australia. If you are successful in obtaining the visa and meeting all relevant criteria, you may be eligible to apply for permanent residency through the subclass 888 Business Innovation and Investment (Permanent) Visa after satisfying the requirements of your provisional visa.

12. Do I need to undergo medical examinations and police clearance checks for this visa?

Yes, you will need to undergo medical examinations and obtain police clearance checks as part of your visa application process. These requirements may vary depending on your country of origin and the visa subclass you are applying for. It is important to check the specific requirements for your individual circumstances on the Department of Home Affairs website.

13. Does my business plan need to be approved by the Australian government before applying for this visa?

No, your business plan does not need to be approved by the Australian government before applying for this visa. However, you will need to provide a detailed and comprehensive business plan as part of your application process to demonstrate that your business meets the requirements for this visa. This includes showing evidence of potential growth, employment opportunities for Australians, and contribution to the Australian economy. It is advisable to seek professional advice when developing your business plan for this visa application.

14. Can I change my business activity after being granted the Business Talent Visa?

Yes, you can change your business activity after being granted the Business Talent Visa. However, you will need to inform the Department of Home Affairs (DHA) and provide proof that your new business activity meets the requirements for the visa. You may also be asked to provide additional documents or undergo a review process before the change can be approved. It is important to consult with an immigration lawyer or registered migration agent before making any changes to ensure that they do not affect your visa eligibility.

15. Is there an investment or funding requirement associated with this visa?

Yes, there is an investment or funding requirement associated with this visa. The specific amount required varies depending on the type of visa and the country you are applying for. For example, the EB-5 Immigrant Investor Visa requires a minimum investment of $900,000 in a new commercial enterprise that will create at least 10 full-time jobs for US workers. Other types of visas may have different requirements, such as the E-2 Treaty Investor Visa which typically requires a substantial investment in a US business and the creation of jobs for US workers. It is important to carefully review the requirements for the specific visa you are interested in obtaining.

16. How long do I have to start my business in Australia once being granted the visa?

You must activate your Business Innovation and Investment visa within 12 months of initial entry into Australia. This means that you must make your first business or investment activity within this time period.

17. Are there any restrictions on which industries or businesses can apply for this visa?

Yes, there are certain industries that are not eligible for the EB-5 visa program. These include businesses involved in pyramid schemes, speculative or fraudulent activities, or businesses that violate U.S. labor laws. Additionally, regional centers and projects located in high-unemployment or rural areas may also have certain restrictions on the types of businesses they can invest in. It is important to thoroughly research the specific requirements and restrictions of the EB-5 program before applying.

18. Is it possible to get a refund if my business fails after being granted the visa?

It depends on the terms and conditions of the visa and the policies of the issuing country. In most cases, there is no refund available if a business fails after being granted a visa. However, it is always best to check with the authorities or your lawyer for more specific information about your situation.

19. Can I extend my stay in Australia on a Business Talent Visa?

Yes, you may be able to extend your stay in Australia on a Business Talent Visa. This will depend on the circumstances of your visa and your individual case. If you wish to extend your stay, you must apply for another visa before your current one expires. You must also continue to meet the requirements of the Business Talent Visa during your extended stay. It is recommended that you seek advice from the Department of Home Affairs or a registered migration agent for specific details and guidance on how to extend your stay in Australia on a Business Talent Visa.

20.Name some successful Australian businesses that were established by migrants on this visa.

1. Atlassian (established by Mike Cannon-Brookes and Scott Farquhar from the US on a Business Skills subclass 410 visa)
2. Boost Juice Bars (established by Janine Allis from South Africa on a business skills subclass 845 visa)
3. RedBalloon (established by Naomi Simson from New Zealand on a Business Skills subclass 457 visa)
4. Cobalt Software (established by Ross Crook and Grant Halloran from the UK on a Business Owner Provisional Visa)
5. Sri Lankan Airlines (established by Chandran Rutnagur and Peter Hill from Sri Lanka on a Business Migration Program Provisional Visa)
6. Woolworths Limited (founded by Percy Christmas, Stanley Chatterton, Cecil Scott Waine and George Creed in partnership with English migrants)
7. Westpac Banking Corporation (founded by David Scott Mitchell, Richard Edward O’Connor, and others including Thomas Barton Mackellar, with Scots parentage or origin).
8. British Petroleum Australia was formed in 1920 as the BP Company of Australia Ltd.
9. Oporto restaurant chain (founded by Antonio Cerqueira Sousa who migrated to Australia from Portugal in his twenties).
10. Gelato Messina ice-cream shop (co-founded by Nick Palumbo and Declan Lee who migrated to Australia).