Visa 132A Programx
Significant Business History stream: for high-calibre business owners or part-owners who want to do business in Australia
Conditions to officially residence:
• Be nominated by a state or territory government agency
• Be invited to apply for the visa
• You and your family members (whether or not they are included in your application) meet health and character requirements
• You, your partner, or you and your partner combined must have all of the following:
– Total net assets of at least AUD400 000 as the ownership interest in one or more qualifying businesses for least two of the four fiscal years immediately before you are invited to apply and if the qualifying business(es) was a publicly listed company, a shareholding of at least 10 per cent of the total issued capital.
– Net business and personal assets of at least AUD1.5 million that are legally acquired and can be transferred to Australia within two years after the visa is granted.
– A total annual turnover of at least AUD3 million in one or more of your main businesses in at least two of the four fiscal years immediately before you are invited to apply.
– Ownership of at least:
+ 51 per cent of a business with turnover of less than AUD400 000 per year
+ 30 per cent of a business with turnover of more than AUD400 000 per year, or
+ 10 per cent of a publicly listed company
– An overall successful business career
– No involvement in unacceptable business activities
– A genuine desire to own and maintain a management role in a business in Australia.
You must also be younger than 55 years of age, although a state or territory can waive this requirement if your proposed business will be of exceptional economic benefit to the region where it will operate.
Requirements for Applicant:
You and your family must comply with all visa conditions and Australian laws.
You must fulfil your business obligations.
If you are outside Australia when the visa is granted, you must enter Australia by a specified date. We will tell you what this is. Your family members might not be allowed to marry or enter into a de facto relationship before they enter Australia. We will tell you if this condition applies.
You must tell us your residential address within six months of arriving in Australia.
Every time you change address (even to somewhere outside Australia), you must send a new form to us within 28 days of the move:
• Form 929 – Change of address and/or passport details
After entering Australia, you must:
• Establish a qualifying business in Australia, or
• Participate in an existing qualifying business in Australia.
In the business, you must:
• Maintain substantial ownership
• Maintain direct and continuous involvement in the day-to-day management of the business
• Make decisions that affect the overall direction and performance of the business in a way that benefits the Australian economy.
After becoming involved in business in Australia, you will be asked to complete:
• Form 1010 Survey of Business Skills visa holders