Significant Business History Stream

Business Talent (Permanent) 132 visa is a permanent residence visa among other business skill visas. It offers applicants a straight-away opportunity to get permanent residence without going through the two-stage process.  Business owners will require to have a genuine and realistic commitment to continuously maintain an ownership interest and participate in the key level of business management of their business in Australia.

There are two streams for this subclass. We will only discuss the significant business history stream in this publishing. 

Features of 132 visa

• You will get PR directly without experiencing two stages;
• You must have successful business history and managerial roles for your past business for at least 2 years;
• Applicants do not have to meet the points test requirement to get 65 points in order to be invited;
• This is a permanent visa to allow you and your family  to stay up to 5 years;
• You will need to continue to engage in business and to hold a substantial ownership interest for 2 year before going through the 2-year review; See more by clicking the link.

Criteria for 132 visa

In order to be eligible for this visa stream, applicants need to meet both state and Department of Home Affairs’ requirements:

• Visa applicant must seek and be nominated by a State or territory government. Each State or Territory may have different requirements for their nomination.
• Visa applicant must be under 55 of years of age, unless you can prove your proposed business can be of exceptional benefit to the nominated State or Territory.
• You must have an overall successful business history of at least 2 years and will have a genuine desire and own and manage a business in Australia;
• For at least 2 of the 4 fiscal years before you are invited to apply for this visa, you , your partner, or you and your partner together, must have had an ownership interest in one or more qualifying businesses in which your net value was at least AU$400,000.
• Your personal and business assets, or your partner, or you and your partner combined together, must be at least AU$1.5 million. These assets must have been lawfully acquired and can be available to transfer to Australia within 2 years after the visa is granted;
• The total net business assets of you, your partner, or you both combined, must be at least AU$400,000 from the ownership interest in one or more qualifying businesses, which are gained over at least 2 of the 4 fiscal years immediately before you are invited to apply for this visa;
• Your business or businesses must have had a turnover of at least AU$3 million each year for at least 2 of the 4 fiscal years immediately before you are invited to apply for this visa;
• You and family also have to meet health and character requirements before the visa can be granted.
• You should maintain a good record of visa history, not to have had a visa cancelled or refused before while you were in Australia.

Check with Korrylink for your eligibility or for a visa option.