This visa allows overseas nationals to establish a new or develop an existing business in Australia. The visa comprises of two streams:
- Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia
- Venture Capital Entrepreneur stream: for people who have sourced venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
Before an intending migrant can apply for a subclass 132 visa, an applicant must receive an invitation to apply in the Significant Business History stream or the Venture Capital Entrepreneur stream.
An invitation is sent to the intending migrant if they have been successful in meeting the initial threshold criteria required in the SkillSelect Expression of Interest (EoI) for the Business Talent visa. Intending migrants will receive their invitation to apply for a Business Talent Visa via SkillSelect
Once the visa is granted, a visa holder is subject to monitoring and compliance during their first three years in Australia. Generally the visa holder will be asked to supply supporting documentation regarding their business interests in Australia.
The purpose of the monitoring exercise is to ensure:
- Compliance with the visa requirements as well as enabling the Department to take any action relating to non-compliance
- Evaluate whether or not the visa programme is meeting its objectives so that any relevant policy changes can be made (where required)
- Report to the government on the overall performance of the Business Skills and Business Innovation and Investment visa programs
Applicants for:
- provisional Business visas and
- the Business Talent visa
are required to sign a declaration that they understand their obligations as the holder of the visa.
By signing the declaration on the visa application form, or on the electronic visa application form, applicants acknowledge their obligations as a Business visa holder, including the obligation to:
- provide the department with a residential address within six months after arrival in Australia and within 28 days of any subsequent address change
- participate in monitoring activities such as the provision of surveys of business activity undertaken and
- make genuine attempts to engage in a business in Australia and participate in the management of that business or maintain a designated investment for 4 years.
It is important to note that the business activities of provisional visa holders are not monitored but permanent residence is dependent on the visa holder’s ability to show satisfactory evidence of a specified level of business or investment activity in Australia.
There are a number of ways Home Affairs can monitor a subclass 132 visa holder. The common way of monitoring is requesting the visa holder to complete Form 1010 – Survey of Business Skills Visa Holders. The Monitoring Unit then assesses the information received against the relevant legislation and determines whether the visa requirements are being met.
In order to comply with eligibility requirements, business talent visa holders are required to:
- obtain a substantial ownership interest in an eligible business in Australia; and
- utilise his or her skills in actively participating at a senior level in the day-to-day management of that business; and
- intend to continue to do the above in the future.
Failure to comply with the abovementioned requirements may lead to cancellation of the visa.
As part of a valid visa application, applicants sign a declaration that they will meet the requirements of their visa.
Applicants acknowledge that failure to meet the visa requirements may result in fines and/or cancellation of their visa, and the visas of family members.
Home Affairs recently published their annual report. The report indicates that approximately 57,440 visa cancellations occurred including as a result of non-compliance.
More information in relation to monitoring of subclass 132 visa holders can be obtained directly from the Department of Home Affairs by way of email: This email address is being protected from spambots. You need JavaScript enabled to view it.