Exploring a Business Talent (Permanent) Visa – Subclass 132A with VEM
Outstanding investors / entrepreneurs are motivated to come to Australia with a permanent resident visa to establish or develop a business in Australia.
What is a Subclass 132A visa?
This is a permanent residency visa that suits the people who own medium to large businesses in their home country. Applicants are required to first be nominated by a state or territory government and then be invited to apply for this visa.
Different states have different requirements for applying for nomination. Generally, the applicant will need to invest 1.5 million AUD in a business in that particular state and fulfill monitoring requirements over a period of 2 years post-grant.
Benefits when holding a Subclass 132 visa
- Staying in Australia as a permanent resident.
- Having full study and work rights.
- Being entitled for Australian medicare.
- Being able to sponsor certain relatives to Australia.
- Having multiple travels in and out of Australia in 5 years.
- Applying for Australian citizenship if you meet the requirement.
Requirements of Business Talent (Permanent) 132 Visa
The applicant must have had an overall successful business career.
- Must directly own and manage a business for at least 2 years.
- Must have the total business and personal assets legally worth at least 1.5 million AUD.
- Must have annual turnover worth at least 3 million AUD for at least 2 of the 4 fiscal years immediately before you were invited.
- Must have net assets in a qualifying business worth at least 400,000 AUD.
- Must meet functional English, health and character requirements.
Cost of a Subclass 132 visa
The visa application fee is 7,855AUD (not including 1.4% surcharge) for both streams of this Subclass. However, there is an additional fee for each family member who applies for the visa with you:
- Additional applicant who is over 18 years old: 3,930AUD (not including 1.4% surcharge).
- Additional applicant who is under 18 years old: 1,960AUD (not including 1.4% surcharge).
Applicants are also required to pay an extra fee who is at least 18 years old but does not meet the functional English requirement. This fee is also called second instalment and only paid when the visa is going to be granted to you:
- Main applicant: 9,795AUD (not including 1.4% surcharge).
- Family member: 4,890AUD (not including 1.4% surcharge).
There will be other costs for health and police checks. Feel free to contact us to estimate your visa cost.
Processing time of a Subclass 132 visa
There is no specific processing time for this subclass.
Come to VEM’s office or directly contact us for detailed information.
The process of applying for a Subclass 132 visa
- Step 1: Preparing your documents.
- Step 2: Applying for nomination of the Australian state or territory government agency.
- Step 3: Submitting an Expression of Interest (EOI)
- Step 4: Applying for the Subclass 132 visa within 60 days of invitation.
- Step 5: Visa grant.
- Step 6: Moving to Australia and starting your business.
Q&A about a Business Talent (Permanent) Visa – Subclass 132
You and your included family members can be both onshore and offshore when lodging the visa application.
You can live and work in Australia as a permanent resident after being granted this visa.
Contact VEM’s migration consultants to get more specific information.