What to Know before Applying for Business Talent Permanent Visa?

 Business Talent Visa is one of the most popular visas that allow business people to enter Australia permanently, which mean they can live and work in Australia indefinitely and eventually apply for Australian citizenship if they meet specific legal criteria.

If you are considering entering Australia on this visa program or have already applied, read on to discover what you need to know before applying for Business Talent Permanent Visa 132. This will help you understand the application process and give you an idea about the skills required by an employer if they want to hire someone with this visa.

What is Business Talent Permanent Visa 132?

The Business Talent Permanent Visa 132 allows skilled entrepreneurs and innovators to pursue their idea or start-up in Australia. It is available for those with a commitment from an Australian entity. It has two streams, a two-year stream for those who want assistance from Australian government agencies and a three-year stream for self-supported applicants.

Applicants will be able to work on up to 4 tasks or activities at any one time which is not performed by other employees, together with being involved in the management of the enterprise.

What is Business Owner Visa 890?

The Business Owner Visa 890 is a permanent residence visa granted to individuals who have built up wealth and are willing to commit capital and time to operate a business in Australia. This visa takes into account business experience and economic value. The holder of this visa is not entitled to receive government benefits or access to government-funded programs, with some exceptions.

Suppose applicants want their family members (spouse or children) to accompany them on their application. In that case, they must be able to show that they will provide for them financially without using public funds and cover costs for private health insurance if needed.

The Processing Time Taken by Business Talent Visa 132

You can expect a total turnaround time of 8 months or less. You'll get an invitation letter when your application is approved and issued, allowing you to schedule an appointment with a participating country's embassy or consulate to pick up your visa.

Documents Required for Business Talent Visa

The following documents are required for the visa application process:

• Letter of offer;

• Company registration certificate;

• Company financial statements;

• Evidence of investment funds or a statement that investing in your business is not required (proof must be submitted if requested);

• Evidence of corporate structure includes articles of association, constitutional documents and registered shares.

• Business visas must justify hiring a foreign national, who will be classified as essential staff.

How much does it cost?

If your application is successful for Business Talent Permanent Visa 132, the fee will be AUD 10,000. In addition, you must have a minimum taxable income of $180,000 over at least four consecutive quarters from any business or occupation in any given 24-month period. If you do not meet this requirement, there is an additional step for reporting purposes, and your application may still be assessed, but it may be declined.

The sponsorship holder must also intend to provide each sponsored applicant with employment that meets specific requirements, including work of a specialist nature, which cannot be filled by local workers. The sponsorship can only last for up to four years.