Aus Visa Library

Business Talent (Permanent) Visa (Subclass 132)

The Business Talent visa (subclass 132) offered permanent residency for high-caliber business professionals in Australia, but it has been repealed and is no longer available for new applications.

The Business Talent (Permanent) visa (subclass 132) was a prestigious visa designed for high-caliber business professionals seeking permanent residency in Australia. However, it's important to note that this visa has been repealed and is no longer available for new applications. Below, we provide an in-depth look at the key aspects of this visa when it was operational, for historical context and informational purposes.

Key Benefits and Features

The Business Talent (Permanent) visa (subclass 132) offered a number of attractive benefits:

  • Permanent Residency: Provided immediate permanent residency for successful applicants and included their eligible family members.
  • Work and Study: Allowed holders to work and study in Australia.
  • Healthcare Benefits: Gave access to Australia's public healthcare system, Medicare.
  • Pathway to Citizenship: Enabled visa holders to apply for Australian citizenship upon meeting residency requirements.
  • Business Opportunities: Facilitated the establishment or development of a new or existing business in Australia.

Types of Subclass 132 Visa

The subclass 132 visa had two streams:

  1. Significant Business History Stream: For experienced business owners with a successful business career.
  2. Venture Capital Entrepreneur Stream: For individuals who had sourced venture capital funding from an Australian company for business development.

Common Challenges and Solutions

Applicants often faced several challenges:

  • Financial Requirements: Demonstrating substantial financial resources was a major challenge. Applicants needed to provide comprehensive documentation of their business and personal assets.
  • Business Plan Viability: Crafting a viable business plan that met Australia’s economic needs was essential. Engaging a migration agent or business consultant often helped in aligning business proposals with local opportunities.
  • Venture Capital: Securing venture capital funding was challenging and required building strong networks and business cases attractive to investors.

Common Professions and Professionals

The Business Talent visa was typically pursued by:

  • Experienced business owners
  • Entrepreneurs with a track record of successful business ventures
  • Senior executives with significant operational decision-making powers

Real-Life Scenarios:

  1. A Technology Start-up Founder: An individual from the tech industry with a successful exit history sought to establish a new enterprise in Australia's growing tech sector.
  2. A Retail Chain Owner: A business owner with several retail outlets looked to expand into the Australian market, bringing significant investment and employment opportunities.

Costs Associated

When available, the costs for the Business Talent visa included:

  • Government Visa Application Charge: Could exceed AUD 7,000 depending on the specific stream and number of family members included.
  • Business Evaluation Costs: Fees for preparing business valuations and plans.
  • Legal and Professional Fees: Costs for migration agents and legal consultants.

Duration

The subclass 132 visa granted indefinite residency status in Australia, allowing holders to live, work, and study in the country permanently.

Relevant Statistics

  • Approval Rates: Approval rates varied, but generally favored applicants with a strong financial background and well-supported business plans.
  • Business Impact: Historically, this visa contributed to the establishment of numerous successful businesses across Australia, particularly in the tech and retail sectors.

FAQs

Q1: Is the Business Talent visa (subclass 132) still available?
No, this visa has been repealed and is not available for new applicants.

Q2: What are the alternatives to the subclass 132 visa?
Prospective business migrants may explore other options like the Business Innovation and Investment (Provisional) visa (subclass 188).

Q3: How can I find more information about business migration to Australia?
Visit ausvisalibrary.com for up-to-date information and resources on Australian visas and migration options.

When seeking comprehensive and expert advice on migration options, consider using ausvisalibrary.com to find relevant providers and detailed guides tailored to your needs.

Keywords: [Visas, Australian PR, Migration, Business Talent Visa, Subclass 132, Permanent Residency, Business Migration]