132 Business Talent (Permanent) Visa: Significant Business History Stream

Significant Business History Stream (subclass 132) Summary

This visa is for experienced business owners, to operate a new or existing business in Australia. It is the only visa category by which applicants can obtain permanent residence in Australia in one step. It is designed for large and medium-sized entrepreneurs, business owners, and shareholders.

State government guarantees must be obtained before applying. The federal government also requires subclass 132 applicants to invest at least AUD 1.5 million in a state-approved project for a minimum of two years. Some states have their own further requirements.

With this visa, you can:

· stay in Australia permanently

· work and study in Australia

· enrol in Australia's public health care scheme, Medicare

· sponsor certain relatives to come to Australia

· travel to and from Australia for 5 years

· if eligible apply for Australian citizenship

*Newly arrived residents may have to wait before they can access certain Australian Government payments and benefits.

Eligibility Requirements

You must be able to demonstrate:

· an overall successful business career

· a genuine desire to own and manage a business in Australia and participate in the daily operations

Your total annual turnover must be at least AUD 3million:

· from at least 1 business and no more than 2 businesses

· for at least 2 of the 4 fiscal years immediately before you were invited to apply for this visa

Your ownership interest must be either:

· 51% or more of a business with turnover of less than AUD400,000 per year

· 30% or more of a business with turnover of more than AUD400,000 per year, or

· 10% or more of a publicly listed company

The business and personal assets of you, your partner, or you and your partner combined, must be at least AUD1.5 million:

· lawfully acquired

· available for transfer to Australia within 2 years after the visa is granted

· guaranteed by the state government