A Permanent Residency Pathway for High-Calibre Entrepreneurs and Business Owners
Note: This visa is now closed to new applicants. Applications lodged before 1 July 2021 will still be processed.
The Subclass 132 Business Talent visa was a permanent residency visa designed for experienced business owners and entrepreneurs who wanted to establish or expand a business in Australia. Although the Business Innovation and Investment Program (BIIP) has now closed to new applications (as of 31 July 2024), existing lodged applications will continue to be processed.
Applicants who withdraw their application for the Significant Business History or Venture Capital Entrepreneur streams on or after 31 July 2024 may be eligible for a refund of their Visa Application Charge.
Visa Summary
The Subclass 132 visa had two streams, each catering to different types of business migrants:
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Significant Business History Stream
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Venture Capital Entrepreneur Stream
This visa allowed eligible applicants to live in Australia permanently, establish or develop a business, and bring eligible family members.
Benefits of the Subclass 132 Visa
- Permanent residency for you and eligible family members
- Freedom to live, work and study anywhere in Australia
- Pathway to Australian citizenship, if eligible
- Access to Medicare, Australia’s public health care system
- Ability to sponsor relatives for permanent residency
- Full rights to operate or invest in an Australian business
Stream 1: Significant Business History Stream
This stream was intended for proven business owners with a strong track record of success who wished to manage a new or existing business in Australia.
Key Requirements:
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Must have been nominated by a state or territory government agency
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Must have been invited to apply
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Minimum net business and personal assets of AUD 1.5 million, lawfully acquired
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An ownership interest of at least AUD 400,000 in one or more qualifying businesses for 2 of the last 4 fiscal years prior to invitation
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Annual business turnover of AUD 3 million or more for at least 2 of the past 4 years
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Demonstrated capacity to successfully manage a business in Australia
Stay: Permanently
Cost: From AUD 7,855.00
Stream 2: Venture Capital Entrepreneur Stream
This stream supported innovative entrepreneurs who had secured venture capital funding from a reputable source in Australia.
Key Requirements:
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Must have received AUD 1 million or more in venture capital funding from a firm that is a member of the Australian Investment Council (AIC) (formerly AVCAL)
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Funding must support the early-stage commercialisation, development, or expansion of a high-value business idea or innovation in Australia
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Must have been nominated and invited to apply
Stay: Permanently
Cost: From AUD 0.00
Visa Closure & Refunds
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The Subclass 132 visa closed to new applications on 1 July 2021
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The Business Innovation and Investment Program (BIIP) was officially closed as of 31 July 2024
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Applicants who withdrew on or after 31 July 2024 from the Significant Business History or Venture Capital Entrepreneur stream may be entitled to a refund of the Visa Application Charge
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For more details, see the BIIP Closure and Refunds page
How WIDEN Migration Experts Can Assist You
If you’ve already lodged a Subclass 132 visa application or are affected by the BIIP closure, WIDEN can help you navigate this transitional phase with expert migration support:
Application Review – We assess the progress of your application and help address any outstanding requests from the Department of Home Affairs.
Refund Guidance – If you’re considering withdrawing your application, we can help determine if you’re eligible for a Visa Application Charge refund and assist with the refund process.
Alternative Pathways – Our migration experts will help you explore alternative permanent residency visas, including options under the Subclass 888 or general skilled migration programs.
State Nomination Support – We liaise with state or territory government agencies to help manage your obligations and nomination conditions (if applicable).
Don’t navigate this complex system alone.
Contact WIDEN Migration Experts today for professional advice and guidance on your Subclass 132 visa situation.