The 12th largest economy in the world, Australia, attracts a large number of immigrants from almost every corner of the world which includes both skilled workers and business personnel. To be specific, a large number of business personnel find the country’s economy most feasible to easily multiply their hard-earned money and maximize the growth of their business venture within the country.
Being a business-friendly country, it provides excellent opportunities for those who have enough capital and skills to contribute towards its economic growth. Hence, Business Talent (Migrant) (Sub-class 132) Visa has become quite popular among foreign business personnel. It is basically a permanent category and most feasible for those who wish to start a new or manage an existing business in Oz.
It has two main streams and they are as follow:
Significant Business History Stream: Those elite business personnel fit in the category who have a high net worth and maximum personal asset of AUS $ 1.5 Million with an annual turnover of at least AUS $ 3 Million.
Venture Capital Entrepreneur Stream: It is most feasible for those, who have a high net worth of at least AUS $ 1 Million, to start an approved business venture anywhere in the country.
Business Talent (Migrant) (Sub-class 132) Visa—Key Benefits
The visa gives following benefits:
- Live and work in the country indefinitely.
- If the aspirants desire they can pursue higher studies as well.
- Easily access Medicare the popular healthcare scheme.
- Sponsor close relatives for Permanent Residency (PR) provided they meet the set criteria.
- Freely travel in and out of the nation till the time the visa is valid.
You become eligible to apply for the visa if a state or territory government nominates you once you submit Expression of Interest (EoI) using SkillSelect. Plus at the time of submitting the EoI, you must be below 55 years of age unless you fall under the special economic condition.
How to Apply?
Interested applicants first must decide the stream they wish to apply for, and then submit an EoI using SkillSelect. Your EoI should clearly indicate which particular stream you wish to apply for, and if you intend to spread your business in one or more than one state or territory. Once your EoI is submitted, a state or territorial government will review it and will decide if you should be invited to apply. Deciding authorities have their own set of criteria to decide who to nominate.
In some cases, before you are nominated, you might be contacted by the concerned authorities to discuss the business proposal. In some cases, you will have to contact the authorities yourself. Those who get an Invitation to Apply (ITA) will get 60 days to apply online for the visa. During this time period, you cannot change the information provided through the EoI.
For complete in-depth information, prospective immigrants must visit the official website of Department of the Immigration and Border Protection (DIBP).