BUSINESS TALENT VISA SUBCLASS 132
According to the Department of Immigration and Border Protection (DIBP), the official title of this business visa category is: Business Talent Visa (Permanent) Visa (Subclass 132). This class of visa has following two streams: Significant Business History and Venture Capital Entrepreneur. When any applicant applies under this particular visa category, the applicant directly gets the benefit of permanent resident status. This permanent residence visa permits the applicant and his/her family members stay in Australia for an indefinite time period. There is no visa expiry issue, when any applicant gets permanent resident status.
The main applicant and the dependants of the main applicant, have the equal rights which the citizens of Australia get. For example: An applicant and his/her dependants who are eligible under Business Talent Visa category can work in Australia without any restrictions. Apart from this, the applicant and his/her dependants can also study in Australia at the same tuition fees which are applicable to the citizens of Australia. When a person moves on a study visa to a country other than his home country, the international student’s tuition fee is applicable, which is generally more than the local tuition fees. But the person, who gets permanent resident status, can avail the education for himself and his/her dependants at the same cost, which is applicable to the citizens of Australia.
The main applicant and his/her dependant’s can also enroll for Medicare; which is a government organized scheme, related to health care and health related expenses. Generally, this facility is not available to immigrants without a permanent resident (PR) status. Apart from this, any immigrant could apply for citizenship only after he gets the PR status. The main applicant can also sponsor eligible relatives for permanent residence under this category. So, these are the advantages of applying under this particular category of visa, if you are planning for a Business Migration to Australia. This is the largest advantage of having the permanent resident status.
This visa permits the applicant to develop an existing business in the Australia. It also allows the main applicant to set up a new business in the Australia. As far as it concerns about the eligibility criteria, the rules are different for both the streams specified within this article. Following is a differentiation of eligibility criteria and requirements for both the streams:
Venture Capital Entrepreneur Stream:
In this stream, the applicant has to prove, that he/she received capital funding for the venture from one of the members, of the AVCAL. You must have received AUD 1 Million from the member of this association. You must show evidence of having entered into agreement with the venture capital firm for such funding.
Significant Business History Stream:
Under the stream, the applicant has to deliver evidence related to a good business history i.e. which proves his talent in business related activities. Highly skilled and experienced business owners or part-owners, who wish to do business anywhere throughout the Australia, can apply under the stream called the Business Talent Visa. Either you or your partner; or combined both of you should have at least total net assets of $400000 (AUD), should have total net personal assets and business assets of $1.5 Million (AUD), and so on.