Business Talent (Permanent) visa (subclass 132) allows you to establish a new, or develop an existing business in Australia. It has two streams:
- Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia
- Venture Capital Entrepreneur stream: for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
You may be able to get this visa if you are nominated by a state or territory government agency and are invited to apply by the minister.
You must also either:
- have net business and personal assets of at least AUD1.5 million and an annual business turnover of at least AUD3 million if you intend to apply for the visa in the Significant Business History stream, or
- have obtained at least AUD1 million in venture capital funding to start the commercialisation and development of a high-value business idea in Australia if you intend to apply for the visa in the Venture Capital Entrepreneur stream.
The Business Talent visa (subclass 132) is a permanent residence visa for business people who are nominated by an Australian state or territory government agency.Unlike VISA188, this visa does not require a Point Test.
This visa is only available to applicants who are nominated by an Australian State or Territory government. Different states governments have individual requirements for the application. Details of the individual states requirements can be found by clicking the following links:
How a Business Plan does helps in support of the 132 visa application
The state governments requires applicants to submit a business plan along with the application that shows the details of the current business activity and performance as well as evidence of market research and a genuine commitment to enter into business in Australia. The requirement for the business plan varies from state to state. However, some of the common criteria are as follows:
Details of business:
- A full description of the business activity;
- A full description of the products and services to be provided;
- Where will the business be located?
- Who will own the business?
- How many staff will the business employ?
Details of Market:
- Name customers, the products they will buy, at what volume, at what price, how many sales will be export sales;
- Name suppliers, what products/inputs they will supply, at what volume, at what price;
- Name your three closest competitors, what product they supply, at what price.
Details of Finance:
- Profit and loss statement;
- Balance Sheet;
- Cash flow Statement;
- Ratio analysis;
- Break-even point analysis;
- Identify working capital and how it will be financed and so on.
A Business Plan is a completed document that can generally provide all the above information in a well presented format. It helps the reader obtain specific information regarding the business in an effective way. It is an acceptable document by the DIBP as well as by the state governments. In fact, in some cases it is a ‘must provide’ document that the applicant needs to provide.
$1,900 – $2,400+GST (Market Research)