Business Talent (Permanent) visa (subclass 132)
Business Talent (Permanent) visa (subclass 132)
Visa Cost
Closed to new applications (the primary applicant base VAC before closure was about AUD 7,855)
As part of the Business Innovation and Investment Program (BIIP), this visa permanently closed on 31 July 2024 and no longer accepts new EOIs or new applications. Before closure the primary applicant first-instalment base visa fee was about AUD 7,855, additional applicants aged 18 and over about AUD 3,930, and under 18 about AUD 1,965; there was also a second-instalment English fee (primary applicant about AUD 9,795). Only applications lodged before 2024-07-31 and under processing remain on the old fees; eligible withdrawing applicants can claim a VAC refund. New applicants should turn to the National Innovation visa (subclass 858).
Processing Time
No longer accepting new applications; cases lodged before closure are still being processed gradually, over a long period (historically often more than 1-2 years)
Eligibility
- Important: this visa closed on 31 July 2024 and no longer accepts new applications; the following are the historical eligibility conditions before closure (relevant only to applications already under processing)
- You must obtain nomination from an Australian state/territory government (state/territory nomination)
- Significant Business History (Type A): establishing a new business or developing an existing business in Australia, with a successful business background
- Venture Capital Entrepreneur (Type B): obtaining at least AUD 1 million in venture capital funding from a member of the Australian Investment Council to run a high-potential innovative business in Australia
- For Type A, the main business met the annual turnover threshold (historical standard AUD 3 million) in 2 of the 4 financial years before application, with corresponding net assets
- An EOI and invitation are usually required, and the primary applicant generally must be under 55 at lodgement (unless the state government waives this for significant economic benefit)
- Meet health and character requirements
- Once approved, this visa grants permanent residence directly (unlike the 188 temporary business visa)
Key Information
Validity / Stay / Residence
Permanent residence; the first grant includes a 5-year travel facility period, after which a Resident Return visa (RRV) is required.
Eligible Dependants
You can bring the spouse/de facto partner and dependent children to obtain permanent residence together.
PR / Permanent Residence Pathway
Closed to new applications (state nominations gradually stopped from 2021, fully closed with the BIIP on 31 July 2024; it was a permanent residence visa). This visa is permanent residence (PR); existing/lodged applications are still processed under the old rules, and new applicants take the 858 National Innovation visa instead.
View provisional-to-permanent transition overview →Application Steps
Confirm pre-closure lodgement
Confirm pre-closure lodgement
This visa closed on 31 July 2024; only applications formally lodged before that date continue to be processed; new applicants can no longer lodge.
- Check the lodgement date and TRN
- Those who did not lodge before closure cannot lodge late; consider the 858 National Innovation visa
- State government nomination has also stopped accepting new nominations
Respond to requests (pending cases)
Respond to requests (pending cases)
Cases already under processing continue under the requirements at lodgement; respond to the case officer's requests for further documents on time.
- Prepare the latest business financial/turnover/net asset evidence
- Maintain the conditions relating to the state nomination
- Truthfully update changes to family members and personal circumstances
Consider withdrawal and VAC refund
Consider withdrawal and VAC refund
Eligible applicants can choose to withdraw a 132 application under processing and claim a refund of the Visa Application Charge (VAC).
- Confirm refund eligibility and process with the Department
- Weigh the feasibility of moving to the 858 National Innovation visa
- It is advisable to consult a registered migration agent before withdrawing
Transition to National Innovation visa 858
Transition to National Innovation visa 858
The role of 132 has been taken over by the National Innovation visa (subclass 858), launched on 7 December 2024, which grants permanent residence directly to distinguished talent.
- 858 has no upper age limit and no hard investment amount or job offer requirement
- Nomination and proof of internationally recognised outstanding achievement in the target field are required
- Assess whether you are better suited to a distinguished talent pathway other than business/investment
Required Documents
| Document Name | English Name | Required | Description | Tips |
|---|---|---|---|---|
| State/territory nomination | State/territory nomination | A 132 nomination issued by a state/territory government before closure (Type A Significant Business History or Type B Venture Capital Entrepreneur). | States gradually stopped 132 nominations as early as 2021; cases without a valid nomination are hard to progress. | |
| SkillSelect EOI and invitation | SkillSelect EOI and invitation | The EOI lodged via SkillSelect and the invitation record. | After closure the system no longer issues 132 invitations. | |
| Business ownership evidence | Business ownership evidence | Type A: registration documents, shareholding, director appointments, and ABN/ACN of the main business in Australia/overseas. | You must prove direct management involvement in the business rather than purely passive investment. | |
| Business turnover and financial statements | Business turnover and financial statements | Audited financial statements for the relevant 2 of the 4 financial years before application, proving annual turnover met the threshold (historical AUD 3 million). | Financial statements usually need to be audited by a registered accountant; non-English documents need a certified translation. | |
| Net assets and source of funds | Net assets and source of funds | Evidence of personal and business net assets, and traceable evidence of the lawful source of funds. | The source-of-funds scrutiny is strict; you must explain each source, such as business profit, salary, and property appreciation. | |
| Venture capital agreement (Stream B) | Venture capital agreement (Stream B) | Type B specific: a venture capital funding agreement of at least AUD 1 million with a member of the Australian Investment Council. | The funds must be used to run a high-potential innovative business in Australia, and the agreement must specify that the investor is a recognised member organisation. | |
| Business plan | Business plan | A business plan to start or expand a business in Australia, setting out the contribution to the local economy and employment. | Usually required at the state nomination stage; the visa processing stage may re-check settlement progress. | |
| Passports and identity documents | Passports and identity documents | Passports, birth certificates and relationship evidence for the primary applicant and accompanying family members. | Non-English identity documents must be notarised and NAATI/certified translated. | |
| Health examination | Health examination | Health examinations for all applicants completed with a designated panel physician, booked after obtaining a HAP ID. | The health examination standard for permanent visas is stricter, including a chest X-ray and a comprehensive examination. | |
| Police clearance certificates | Police clearance certificates | Police clearances for the primary applicant and family members aged 16 and over from all countries where they have lived for a cumulative 12 months. | For character assessment; the Chinese police clearance must be notarised and have a certified translation. | |
| Withdrawal / VAC refund request | Withdrawal / VAC refund request | The written withdrawal and refund request submitted to the Department when choosing to withdraw an application under processing and reclaim the VAC. | A refund has eligibility conditions; before withdrawing, be sure to confirm whether and how much is refundable. |
FAQ
Can the 132 Business Talent visa still be applied for now?
My 132, lodged before 31 July 2024, is still queued; will it be returned?
After 132 closed, what pathways remain to Australian business/talent permanent residence?
Can the AUD 7,855 VAC already paid be refunded?
Common Refusal Reasons
- Closed to new applications; no new lodgement is possible
- The significant business history (turnover/assets/shareholding) falls short, or the funding conditions of the venture capital entrepreneur stream are not met
- No state/territory government nomination
- The lawful source of funds or the genuineness of the business is in doubt, or health or character not met
Can you appeal after a refusal? See the Visa Refusal & Review (ART) Guide.