The purpose of the Business Talent visa is to allow high-calibre business people and venture capitalists to migrate permanently to Australia. You may only apply for this visa if you have lodged an Expression of Interest, have been successfully nominated by an Australian State or Territory and have subsequently received an invitation to lodge a visa application.There are two streams under which an applicant can qualify for this visa:
Significant Business History Stream
For applicants who have had a very successful business career, and wish to own and manage a new or existing business in Australia.
At the time that you lodge your visa application, you must:
be nominated by an Australian State or Territory government
be under 55 years of age (unless the State or Territory government that is sponsoring your application considers that your business will be of exceptional economic benefit to the region)
you must genuinely want to own, and maintain a major management role in, a business in Australia.
At the time that you lodge your visa application:
- you must have an overall successful business career, with no involvement in unacceptable business activities
- in at least two out of the last four financial years, your main business (or two main businesses combined) must have had an annual turnover of at least AUD 3 million
- of that main business (or main two businesses), you (and your spouse/de facto partner, if applicable) must own at least:
o 51% where the turnover was less than AUD 400,000 per annum
o 30% where the turnover was AUD 400,000 or more per annum
o 10% where the business was a publicly listed company.
You (and/or your spouse or de facto partner, if applicable) must:
- in at least two out of the last four financial years have had net assets of A$400,000 in a business (or businesses) in which you had an ownership interest (i.e. shareholder, partner, sole proprietor)
- have total net business and personal assets of at least A$1.5 million that can be legally transferred to Australia within two years of the date that your visa is granted.
Venture Capital Entrepreneur Stream
For applicants who have obtained the requisite funding from an Australian venture capital firm.
At the time that you lodge your visa application you must:
- be nominated by an Australian State or Territory government
- have obtained at least AU$1 million in funding from an Australian Venture capital firm for the start-up, product commercialisation or business development of a promising high value business idea.