This is a business visa and one can apply for the same under two streams. Let us look into the main points of this visa:
Features of this visa:
This visa holder can start a new business in Australia or he can develop an existing business in Australia
There are two streams for applying for this visa. The Significant Business History stream is for the bigwigs who want to do business in Australia and the Venture Capital Entrepreneur stream is for those who have venture capital funding from a member of the Australian Venture Capital Association Limited (AVCAL).
This is a permanent visa
The basic requirements of the visa:
The Australia Business – Sub Class 132 requires sponsorship from State or territory government.
The aspirant has to get an invitation to apply for the visa.
For the significant business history scheme the aspirant needs to have minimum assets of AUD 1.5 million and he needs to have a minimum turnover of AUD 3 million
For the Venture Capital Entrepreneur stream the applicant needs to have funding of minimum AUD 1 million from an Australian venture capital.
The processing time for the visa:
For the Venture Capital Entrepreneur the processing time can be between 14 months to 15 months. In case of Significant Business History not many details can be given as the number of applications in this category is less.
Who can get this visa?
The Business Talent (Permanent) visa (subclass 132) can be received if the person has a nomination from the State or territory government.
The person needs to get an invitation to apply for this visa.
Additional requirements based on the stream under which the application is made needs to be fulfilled.
Additional documents that need to be furnished:
In addition to all the other documents the applicant will have to submit a health certificate which gives details about the applicant’s health conditions. Character certificate of the applicant also needs to be submitted along with the application. It is also important that the applicant has no debts on the Australian Government.
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The visa holder can avail the Australian Government’s Medicare scheme which Is basically for health care and expenses.
The person can move in and out of Australia any number of times till the visa is valid.
The visa holder can apply for Australian citizenship if he fulfils all the other required criteria for citizenship.
Points to be noted by the visa holders:
The recipients of this visa have to understand that along with the benefits come responsibilities. The visa holder will have to fulfill all the business obligations which he has committed at the time of applying for the visa. The applicant will have to abide by all the rules and regulations of Australian business. He will have to ensure that he abides by the laws of the country. It is important that the visa holder follows all the rules and regulations because if he fails to do so then it can lead to serious repercussions.
IRA immigration- Your visa experts:
If you want to get the correct details about the different types of visa categories and the procedures to apply for the same then get in touch with us at IRA immigration. We have some of the best immigration experts who have precise knowledge about the different visa categories of Australia. They will provide correct guidance for the same.