132 Visa Lawyers - Business Talent (Permanent) Visa
At CMI Legal, we assist business owners and entrepreneurs in applying for a Business Talent Visa (Subclass 132). This visa is a direct access visa that is aimed at providing permanent residency to those who have a very strong business background. Our experienced team of lawyers for Business Talent Visa (132) will provide you with advice that enhances your eligibility and eases your application process. Having experience in both Significant Business History and Venture Capital Entrepreneur Streams, we confidently help clients establish their businesses in Australia.
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What is a Business Talent Visa in Australia?
The Business Talent Visa (Subclass 132) targets successful business people and entrepreneurs who wish to establish or expand their business in Australia. There are two streams under the Significant Business History Stream, which targets high-net-worth individuals who have already established a proven business record, and the Venture Capital Entrepreneur Stream, which targets entrepreneurs holding innovative ideas in their heads and who have secured funding from Australian venture capital firms.
This visa opens opportunities for persons to begin or improve the one that they already have in Australia, thus indirectly and effectively contributing towards the economy. The permanent residency follows a successful application whereby the applicant will be able to run a business and enjoy the benefits of living in Australia. The Business Talent Visa gives a business more opportunities and will benefit the country’s economy for a longer time. Getting this visa therefore requires professional legal advice regarding the process complexity and its chances of success to be in a better perspective.
**This Visa Is No Longer Open To New Applicants**
As of 30 June 2021, the Australian Government terminated the 132 visa programme. The current visa of choice for business owners is the Innovation or Entrepreneur visa. Find out more here:
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Eligibility Criteria for the Business Talent Visa (132)
The visa application process for the Business Talent Visa (132) starts with a proper understanding of who may apply. There are two major streams: the Significant Business History Stream and the Venture Capital Entrepreneur Stream, both of which have different requirements and varied rewards each applicant will give.
Significant Business History Stream
- The Significant Business History Stream is for experienced business people with a good track record.
- Applicants need to demonstrate a business turnover of at least an average of AUD 3 million per year.
- Their personal and business assets need to be at least AUD 1.5 million for consideration.
- One must have possessed substantial ownership and management experience in a qualifying business.
- This stream offers permanent residency to business people who wish to start or expand businesses in Australia.
Venture Capital Entrepreneur Stream
- This stream is for entrepreneurs who have sourced at least AUD 1 million in venture capital funding.
- The application project must be highly innovative, and the business should be supported by a venture capital firm in Australia.
- This stream is aimed at high-growth entrepreneurs, companies that involve new technology, or biotech.
- Such a pathway would guide an entrepreneur towards permanent residency in Australia to create innovative businesses.
- Applicants are expected to have significant participation in the business. They must also show potential for large economic contribution.
Documents Checklist For BIIP Subclass Visa 188
Before applying for any Business Innovation and Investment Provisional Visa, Subclass 188, it is essential to first gather all necessary documents to ensure efficient processing of your application without delays. Here is the list of the required documents one has to have:
Personal Identification Documents
These documents are fundamental to proving your identity at every level during the application for a 188 visa. They include a valid passport or any other government-issued ID, a birth certificate, a marriage certificate if applicable, and recent passport-sized photographs. Our immigration lawyers will help you ensure that all copies are certified according to Australian government standards in view of visa 188 requirements.
Business and Financial Documents
You need to provide full evidence regarding the existence of your business and financial status. This constitutes documents, which include a certificate of business registration, the last two years' financial statements' proof of being the owner of the business', and evidence of the assets and liabilities. These documents help in proving your ability as an entrepreneur and your financial capacity, which will keep you going in your business activities in Australia.
Character and health documents
Character and health assessments will be a must to prove that you are qualified to meet the standards set by the Australian government for immigration. This will include police clearance certificates from all countries in which you have spent 12 months or more in the past ten years and medical examination reports. These will establish your eligibility for entering and residing in Australia.
Supporting Documents for Business Plans
You need to attach a detailed business plan that includes the proposed activities to be done in Australia, projected financials, and market analysis. This has to relate strictly to the requirements of the visa 188 stream to which the application is made. It must normally prove the capability of your business and how it is going to help boost the Australian economy.
State or Territory Nomination Documents
You must have an Australian state or territory nomination for the Subclass 188 Visa. Attach your nomination approval letter and other formal letters to the nominating body. These are important in ensuring that the proposed business or investment is aligned with the state or territory's priorities in their economy.
Benefits Of Business Innovation and Investment (Provisional) Visa 188
The Business Innovation and Investment Provisional Visa, Subclass 188, offers great benefits to entrepreneurs and investors seeking to establish themselves in Australia. Such benefits don’t stop at the business level but also extend to family and access to Australian services while contributing to the economy of the country.
Permanent Residency Pathway
This visa serves to qualify or transition to permanent residence in Australia. One is eligible to proceed with a Business Innovation and Investment, Subclass 888, Permanent Visa after meeting the various requirements and business commitments. In the process, one has the chance for long-term stability and settling options into the mainstream of Australian society with the guidance of our business visa lawyer.
Business and Investment Opportunities
This subclass 188 visa allows holders to engage in most kinds of business and investment activities carried out in Australia. The visa provision allows for the establishment of new businesses or even the expansion of existing ones that would benefit from the strong economy and ideal business environment existing in the country. Therefore, such opportunities might be further maximized by consulting with our visa lawyer to ensure that all requirements are met.
Bringing Family Members
With the Subclass 188 Visa, you are able to take along eligible family members to move to Australia. This includes your spouse and dependent children, who will be able to live, work, and study in Australia. This family inclusion will let you enhance your personal life and provide a supportive environment where your business ventures are going to thrive. Our immigration lawyer will help with keeping up the documentation for family members.
Australian Services Access
Access to important services such as health and education in Australia is possible for visa holders and their families. Access to these facilities will ensure a good life, thereby contributing to the general health of the visa holders and their dependents. Reaching out for such facilities will further aid personal and professional development and reinforce the benefits under Subclass 188 Visa.
Contributions to Economic Growth
The subclass 188 Visa holders play a major role in the economy of Australia by establishing and running businesses. This will include providing jobs from investments they have made in local markets and the introduction of innovative business practices. It, therefore, impacts the economy not only for the visa holder but to the broader Australian community at large, hence making it mutually beneficial.
Here is Our Process For Business Visa Application
The Australian business visa application procedure is complex and demands meticulous attention to detail. The steps can be navigated as follows:
Consultation and Engagement
Start by arranging a meeting with the immigration lawyer who has expertise in this field, and they will give you customized assistance. They will perform an evaluation of your case and the complexities of the process, and they will acquaint you with the process. Upon the completion of the meeting, they will promptly send you an engagement letter or an agreement detailing the terms and conditions of your legal representation, so that all parties involved have a firm grasp on the commitment.
Preparation and Support
This requires your lawyer to prepare a set of documents and to collect strong evidence that confirms your relationship. These proofs may include joint bank account statements, shared lease or mortgage documents, and personal statements from friends and family. This preparation stage is an essential element of the whole procedure, because the quality of application can provide a basis for a fair consideration.
Submission and Communication
This is the stage where you and your attorney file your application with the Australian Department of Home Affairs. They will review your paperwork and make sure it complies with all applicable laws and regulations. The lawyer will be working closely with the department and maintaining communication with you during this waiting period, which may be longer, and will give additional information.
Representation and Success
You may, for instance, be required to provide additional information or submit to an interview by the Department of Home Affairs. And if so, your lawyer will prepare you for this and represent you if the need arises. They’re the one who is there for you, and they are the ones who bring out the best in you so that they can better present you to the college. They will advise you on the outcome of the decision and would review the details to guide you on the best choice, may it be an appeal or new application.
The Application Process for Business Talent 132 Visa
Applying for a Business Talent Visa (132) is a comprehensive process with several steps. This is for the fact that it requires legal precision to guarantee compliance with Australian Immigration Law. Our team of experienced business migration lawyers helps in taking you through this complex process.
Initial Eligibility Assessment
Before applying, the first thing one should do is judge their eligibility based on the stream they are applying for. For this purpose, our Business Talent Visa Lawyers check on the business history, financial standing, and investment background of clients to ensure they satisfy all the criteria. This will save time and energy since it first confirms that one has the right requirements to apply.
Visa Application Lodgment
After an invitation has been received, the formal visa application is lodged with the Department of Home Affairs. This involves significant documentation, which includes business records, financial statements, and all legal paperwork. Our experienced visa lawyers fully manage the application lodging process, with all documents prepared and lodged in the right place. Legal oversight will give you less chance of facing delays and risks for increased odds of achieving your permanent residency.
Submit Expression of Interest (EOI)
After being nominated by a state or territory, you have to submit an EOI through the Australian government's SkillSelect system, following which your eligibility will be ranked with other applicants. Our Business Talent Visa Lawyers will ensure that your EOI is prepared with due care and that your business credentials stand out at their best so that your opportunity of being invited to apply for the visa increases.
State or Territory Nomination
Once eligibility is confirmed, you will also need to get a nomination from one of the states or territories of Australia. Since each region has distinct requirements and economic priorities, this can make your visa application more successful as well. Our visa lawyers are constantly in touch with state authorities and ensure that your business proposition meets the expectations of the region, thus allowing you to obtain the required nomination and significantly improving the chances for a favourable outcome.
FAQs on Business Talent Visa (132)
Do I need to have a business sponsor for the Business Talent Visa (132)?
No. While applying for the Business Talent Visa (132), you do not require having a business sponsor. However, you must be nominated by a state or territory government in Australia for your application for this visa.
Can I include my family members in my Business Talent Visa (132) application?
Yes, immediate family members, like spouses or dependent children, can be brought along with the application for the Business Talent Visa 132. Under this visa, the family members will also acquire permanent residency.
How long is the processing time for the Business Talent Visa (132)?
What is the minimum investment required for the Business Talent Visa (132)?
For the Significant Business History Stream, you would require a minimum of AUD 1.5 million in net business and personal assets. The business must also have an annual turnover of at least AUD 3 million.
Is there an age limit for applying for the Business Talent Visa (132)?
Yes. Applicants must be under 55 years of age. However, age waivers apply when your proposed business activity is considered to be of exceptional economic benefit to the nominating state or territory.
What is the difference between the Business Talent Visa (132) and the Business Innovation Visa (188)?
A direct permanent residency visa is the Business Talent Visa (132), for established business people, while a provisional visa, the Business Innovation Visa (188), offers a route to permanent residency on meeting certain business performance requirements.
Can I change my business plan after receiving the Business Talent Visa (132)?
What are the obligations after being granted the Business Talent Visa (132)?
Do I need to meet specific business performance criteria to maintain the Business Talent Visa (132)?
Can I apply for permanent residency after holding the Business Talent Visa (132)?
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Our expert migration lawyers offer paid consultations to suit your needs—choose a quick 15-minute session for general advice or a comprehensive 45-minute session for in-depth discussion and tailored guidance.