Australia Business Talent (Subcategory 132) Permit is a Permanent Residence (PR) Visa; it’s basically not an ‘investment’ visa. It is a specialist permit tailored for high net worth people, below the age of 55, with an excellent commercial background. It is vital that the candidates aim to settle in a particular Australian state or territory and set-up a business, which gives ‘exceptional’ economic advantage to the state/territory. The visa can be gained only in case you get an invite even as it’s an important component of the well-known Australian Business Innovation and Investment Scheme.
Prior to gaining an invite to submit a submission, it is expected of the applicants to present an Expression of Interest (EOI), through the online visa and immigration facility, Skill Select. It is vital that the EOI clearly states if the candidates are motivated with either of the two Australia Business Talent (Permanent) (Subcategory 132) Visa categories, namely, the Venture Capital Entrepreneur Stream, and the Significant Business History stream. It is also essential that the candidates indicate if they are motivated with only one or every territory &state of Down Under. Significantly, the candidates do not have to furnish any supporting certificates/papers.
Australia Business Talent (Permanent) (Subclass 132) Visa Streams
As mentioned just a short will ago, the permit category has two sub categories—the Significant Business History Stream, and the Venture Capital Entrepreneur Stream. The first one is meant for the prosperous owners or part owners of a firm who are eager to get hold of a key management role in a completely new or existing business enterprise in Oz. The number two is meant for those who have received at least AUD1 million in funding from an Australian venture capital group.
As stated previously, submission can be made only if you have gained an invite for the purpose.
For the Significant Business History Category the aspirants ought to:
- Submit an EOI;
- Have nomination from an Australian territory or state administration;
- Be below 55 years of age;
- Possess business &personal resources worth AUD1.5 million;
- AUD400 000 should be net assets in the business; and
- Possess an overall business turnover of AUD3 million.
For the Venture Capital Entrepreneur Category, the aspirants should: have obtained not less than AUD1 million in funding from a venture capital firm of Oz, for business concept with a fairly high value.
Business Talent Visa (subclass 132):Some Major Benefits
The widely accepted visa allows you to do several things and gain several things. It enables you to set-up a new or build-up an existing group/firm in Down Under. It’s a permanent residence visa. It enables you along with family members (those who have the permit) to:
- Reside in Australia for an indefinite period.
- Do a job and pursue studies in the country.
- Register for Medicare—the nation’s popular program for health-associated care &expenses.
- File a petition for Australian citizenship (of course, in case you are qualified).
- Offer sponsorship to entitled family members for permanent residence.
- Take a trip to and from the nation for a period of 5 years from the date the permit is offered (post the said time, you will require a Resident Return Visa (RRV) or a new permit to come back to Oz).
Post Petition Submission
After you submit your immigration application and documents, you will be contacted by the relevant body which will inform you it has gained the particulars; your will be allocated a case official, a decision will be taken on your petition, you will be asked to appear for an interview (of course if it is necessary), more data will be sought (again if the same is needed) before a decision is taken.
In case you want to present a submission for the Sub-class 132 Immigration Permit, please feel free to mail at email@example.com. Do not forget to specify your city and phone contacts along with a brief business profile. It should include business turnover during each of the previous five years. You will soon be contacted by Abhinav to take move the assessment and filing procedure for the Sub-class 132 Immigration Visa.