This category of applicants has been created to boost the economic status and employment opportunities in Australia. Individuals with business skills and financial assets can apply for business visa. They are required to fulfil rigorous criteria and must be careful while applying for visa. Advice from professional visa consultants is recommended in all cases pertaining to business visas.
Those granted visa under Subclass 132 Business Talent category are automatically granted permanent residence status after the stipulated time period. Others who are issued business visa must satisfy stringent criteria and can be considered for permanent residential status after four years from the date of issuance of business visa. These inter alia include individuals who are owners of existing profitable businesses, senior managers of reputed organisations and people who are capable of investing substantially in government backed funds for period extending to four years. Individuals holding qualifying visas may also apply in such case where they have set up businesses while in Australia. While applying for business visa individuals must ensure that they have ownership of a successful business with turnover exceeding $300, 000 per year for two years immediately prior to the date of application. In case of senior management, a period of four years of continuous employment is mandated. Individuals running their own enterprise must own asset with a value not less than $250000 and are transferrable to Australia within two years of issuance of business visa. The assets of spouses can be clubbed with that of the individual.
For at least two out of the four financial years immediately prior to making the application they must have had an ownership interest in a main business or businesses that had an annual turnover of at least $300,000 or, have a sound continuous employment record in a senior management role in a qualifying business for at least four years immediately before applying and demonstrate a high level of management skill. Individuals must be able to invest $250,000 in the new venture to be established in Australia. Additional assets to enable individual to settle in Australia must also be declared. Age and other time factors must be adhered to without fail to ensure smooth processing of visa application.
The individual applying for a business visa should also demonstrate a genuine commitment in conducting business in Australia. Applicants should be able to establish that they would be involved in day to day operations of the business which they set up in Australia and effectively contribute towards economic development of the country.
Essentially, individuals desiring business visas should be able to conclusively demonstrate their ability to set up and run a profitable business. In addition their character must be impeccable and business interests should be considered legal in Australia. English language proficiency, good health and moral character are some criteria which must be met before issuance of business visa.
State or territory in which the individual is proposing to set up business must provide sponsorship in order to process the business talent visa application. The sponsorship should be obtained prior to applying for the visa and is a precondition.
It may be noted that the performance of the business is continuously monitored by the Australian immigration authorities. Adhering to commitments made at the stage of visa application is essential to ensure permanent residence status. It is therefore advisable to project realistic financial figures at the initial stage. A professional consultant in the field of immigration can go beyond the normal visa processing advice and provide practical yet crucial inputs while applying for a business visa.