Subclass 132:
Business Talent Visa

Subclass 132 provides a direct and immediate avenue to permanent residency for highly experienced business people and entrepreneurs with significant grants secured from specified venture capital funds. In order to apply, applicants must be nominated by a State or Territory authority and invited on Skillselect. This visa is divided into 2 streams:
  • Significant Business History stream; and
  • Venture Capital Entrepreneur stream.
  • Significant Business History stream

    This stream is available to high performing business owners who are looking to have a major role in a new or existing Australian business. A significant amount of personal net wealth is required along with an extensive history of business success. As the basic eligibility criteria include, the primary applicant must:
  • Be nominated by a State or Territory authority;
  • Be under 55 years of age (with exemptions which may apply);
  • Have a history of proven business success;
  • Have no prior involvement in unacceptable business practices;
  • Own and operate a business;
  • Meet the asset threshold.
  • Age

    As a rule of thumb, applicants must not have turned 55 at the time of invitation from Skillselect. Exemptions may apply to individuals with business proposals that are deemed to be of significant economic benefit to the nominating States or Territories. Their discretion to accept age-restricted applicants on the grounds of “exceptional economic benefit” is largely unconstrained. Policy supports deference to the recommendation of State or Territory authorities. Thereby placing enormous discretion in the exercise of this power with said authorities. They provide minimal guidance on the circumstances in which they might waive age restrictions.
  • Bankruptcy in the last 5 years;
  • Involvement in businesses which have been subject to insolvency, receivership or liquidation;
  • Recent trading losses stemming from decisions of the applicant which are likely to render the business unsuccessful in future.
  • Proven Business Success

    Applicants must demonstrate that they have an overall record of successful careers as business owners. The Department will adopt a holistic approach to their assessment. Applicants’ entire business careers are taken into consideration, as well as external factors which may mitigate any perceived failures or losses stemming therefrom. Business careers are generally deemed unsuccessful in the following circumstances:
  • Identifying a wrong issue;
  • Asking a wrong question;
  • Ignoring relevant material;
  • Relying on irrelevant material; or
  • Incorrect interpretation and/or application to the facts of the applicable law.
  • Unacceptable Business Practices

    Applicants whose business activities and practices are lawful are usually taken to satisfy requirements. Business practices falling outside the scope of generally accepted Australian cultural and social norms, or those likely to offend or give rise to controversy amongst large segments of the Australian population, may be deemed as grounds for refusal. The following are cited as business conduct which may be deemed unacceptable:
  • Various forms of legal or regulatory non-compliance;
  • Criminal convictions in relation to business practices;
  • Fraudulent trade practices;
  • Perceived underpayment of staff.
  • Own and operate a business

    For at least 2 of the last 4 years, the applicant must have owned and operated a business or businesses with a total annual turnover (equivalent to revenue) of $3,000,000 minimum. The requisite degree of ownership is determined by the annual turnover of individuals businesses, which are summarised:

    Ownership Threshold

  • Turnover < $400,000 per year: 51%
  • Turnover > $400,000 per year: 30%
  • Publicly Listed Company: 10%
  • Asset Threshold

    Applicants must be able and prepared to liquidate and transfer their personal and business assets to Australia for investment in the proposed business(es) in Australia. These funds must have been lawfully acquired. Applicants must have owned $1,500,000 worth of assets, whether personal or business, for at least 2 of the last 4 years. Nevertheless, it should be noted that some States and Territories may have higher net asset thresholds in place for their nomination.

    Invitation

    An applicant needs to submit an expression of interest which meets the requirements of both the Department and the nominating State or Territory. There is no points test for a Subclass 132 visa.

    Nomination

    A State and Territory Government authority is contingent on business proposals. It may be necessary for extensive consultations with the authorities and revisions regarding these prior to your proposed enterprise being accepted. The threshold is highly discretionary and contingent on dynamic conditions of the nominating State or Territory, whether economic or political.
    The nomination process requires applicants to present business plans to the relevant State or Territory authority. It is the responsibility of the applicants to prove that the proposed business is viable, genuine and of economic benefit to the nominating State or Territory. The degree of economic benefit may be determined by reference to a range of factors. Factors include; industry innovation, job creation and probable growth potential.
    A strong, professionally constructed and deliberated business plan, with evidence of market research, and consultations with the industry stakeholders are necessary to satisfy the requirements for the nomination. Nevertheless, States and Territories retain a great amount of discretion in whom they nominate and additional documents and information required from the applicants.
    Some States may set additional requirements relating to the investment threshold, the nature of the proposed business or the number of jobs likely to be created in the State as a result of the proposed business. These requirements are complex and subject to constant changes. The below table provides a summary of some of these additional requirements as set by the States of New South Wales, Victoria and Queensland as of 24 March 2020:

    New South Wales

    Minimum Net Assets: $1,500,000
    Investment Amount: $3,000,000*
    Investment Amount (Regional): $2,000,000**
    Other: Create 5 jobs***
    Other (Regional): Create 3 jobs ***

    Victoria

    Minimum Net Assets: $1,500,000
    Investment Amount: $2,000,000
    Investment Amount (Regional): n/a
    Other: n/a
    Other (Regional): n/a
    Unacceptable Businesses: Passive investment, General importing, Commodity export, Freight forwarding, Warehousing, Small development

    Queensland

    Minimum Net Assets: $1,500,000
    Investment Amount: $1,000,000
    Investment Amount (Regional): n/a
    Other: $200,000 (settlement costs)
    Other (Regional): n/a
    Unacceptable Businesses: General importing***, Small development
    * Amount consists of base $1.5 business investment amount plus additional $1.5m to be transferred to NSW
    ** Amount consists of base $1.5 business investment amount plus additional $1.5m to be transferred to NSW
    *** May be satisfied where created jobs are, in aggregate, equivalent to a prescribed number of full-time positions
    **** Unless imported products are highly innovative or technologically advanced

    Property Development

    Minimum Net Assets: $1,500,000
    Investment Amount: $1,000,000
    Investment Amount (Regional): n/a
    Other: $200,000 (settlement costs)
    Other (Regional): n/a
    Unacceptable Businesses: General importing***, Small development

    Victoria

  • Applicant must have a relevant qualification, such as architecture, construction management;
  • Academic qualification may be substituted with extensive relevant experience;
  • The proposals must align with one of Victoria’s priority sector strategies;
  • Cost of land purchase is not to be included in requisite investment amount;
  • Small-scale project-based development does not count.
  • Queensland

  • Applicant must demonstrate relevant business background;
  • The total of asset transfers and investment in the business must not be entry level;
  • If the proposal is project-based, it must be large-scale and ongoing.
  • South Australia

  • Property businesses must be for sale to unrelated parties;
  • Development must not be purely to facilitate rental income or passive investment;
  • Business partners must have a minimum 2 years property development experience;
  • Applicant must provide a statement to the effect that properties will be made available for sale within 2 weeks of completion of development activities;
  • Applicant must demonstrate suitable experience to show capability to fulfill the management duties within the project.
  • Venture Capital stream

    This stream is only available to individuals who have secured a legally enforceable agreement with an Australian company who is a member of the Australian Investment Council (AIC) (formerly known as the Australian Private Equity and Venture Capital Association Limited (AVCAL)). The AIC is a national association which represents the private equity and venture capital industries, and its members comprise mostly of the active private equity and venture capital firms in Australia. The minimum threshold on the value of funding under the agreement is $1,000,000. The legislative intention is that only ventures with exceptionally high growth potential would qualify for a venture capital agreement and thus this stream of Subclass 132.

    Age

    This stream imposes no limitation on an applicant’s age.

    Application Charges

  • Base application charge: $7,855
  • Additional applicant charge for an applicant who is at least 18: $3,930
  • Additional applicant charge for an applicant who is less than 18: $1,960
  • A second instalment is payable for applicants, who have turned 18, who either cannot or do not evidence functional English abilities:
  • Primary applicant: $9,795
  • Secondary applicant: $4,890