Business Talent (Permanent) Visa

Before you can apply for this visa, you must lodge an expression of interest with the Department of Immigration and Border Protection (DIBP) and be nominated by an Australian State / Territory Government.

The criteria for NSW State Nomination are outlined below. Each other state / territory government has distinct eligibility criteria which we can inform you of should you wish to migrate to a state / territory besides NSW.

Significant Business History Stream

Eligibility Criteria – DIBP

The criteria under this stream are that you:

1. Must be under 55 (unless you satisfy a state / territory government that your proposed business will be of exceptional economic benefit to the region where it will operate, in which case you can be 55 or over).
2. Must be nominated by a state or territory government.
3. Must be invited to apply by the DIBP.
4. Must meet health and character requirements (as must your accompanying family members).
5. Must have an overall successful business career.
6. Must have no involvement in unacceptable business activities.
7. Must have a genuine desire to own and maintain a management role in a business in Australia and maintain direct and continuous involvement in the management of your proposed business when it is established.
8. Your partner, or you and your partner combined, must have:
   • an ownership of at least 51% of a business with turnover of less than AUD$400 000 per year; 30% of a business with turnover of more than AUD400 000 per year; or 10% of a publicly listed company
   • total net assets of at least AUD$400 000 in one or more qualifying businesses for least two of the four fiscal years immediately before you are invited to apply by the DIBP;
   • a total annual turnover of at least AUD$3 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 by the DIBP
   • total net business and personal assets of at least AUD$1.5 million that were legally acquired and can be transferred to Australia within two years after the visa is granted.

Eligibility Criteria – NSW Government

The criteria under this stream are that:

1. You must demonstrate that you meet the DIBP eligibility criteria.
2. You must provide a detailed business plan that demonstrates that your proposed business activity in NSW will be of significant benefit to the NSW economy.
3. If your proposed business will be in Sydney, you must:
   • transfer at least AUD$3m in funds to NSW for business and settling / living expenses
   • demonstrate (through your business plan), that your business investment will be at least AUD$1.5m (inclusive of the AUD$3m above) in your proposed business
   • demonstrate (through your business plan) that your business will create at least 5 new full-time jobs in NSW.
4. If your proposed business will be in Regional NSW (which includes all areas outside of Sydney and some areas inside Sydney), you must:
   • transfer at least AUD$1.5m in funds to NSW for business and settling / living expenses
   • demonstrate (through your business plan), that your business investment will be at least AUD$1m (inclusive of the AUD$1.5m above) in your proposed business
   • demonstrate (through your business plan) that your business will create at least 3 new full-time jobs in NSW.

Ongoing Obligations

If you are granted a visa under this stream, you must:

1. Establish a qualifying business in Australia or participate in an existing qualifying business in Australia.
2. Maintain substantial ownership in your Australian business.
3. Maintain direct and continuous involvement in the day-to-day management of your Australian business.
4. Make decisions that affect the overall direction and performance of the business in a way that benefits the Australian economy.

Eligibility Criteria – DIBP

The criteria under this stream are that:

1. You must be nominated by a state or territory government.
2. You must be invited to apply by the DIBP.
3. You must meet health and character requirements (as must your accompanying family members).
4. You must have received at least AUD$1m in funding from an Australian Venture Capital Firm for the start-up, product commercialisation or business development of high-value business idea.
5. The venture capital firm from whom you have sourced funding must be a member of AVCAL.
6. You must have entered into a formal agreement with the venture capital firm whom will be your source of funding.
7. You, and your spouse or de facto partner, must have no history of involvement in business activities that are of a nature that is generally not acceptable in Australia.

Eligibility Criteria – NSW Government

The criteria under this stream are that:

1. You must demonstrate that you meet the DIBP eligibility criteria.
2. You must have entered into a legally enforceable agreement with a member of AVCAL to receive venture capital funding of at least AUD$1m for the:
   • early phase start-up of a business
   • commercialisation of a product
   • development of a business
   • expansion of a business
3. The venture capital investment amount must have been raised from funds which are not connected with you or the person seeking the venture capital funding (i.e. no self-funding)
4. You must have a genuine and realistic commitment to:
   • establish or participate in an eligible business in Australia
   • maintain a substantial ownership interest in the nominated eligible business
   • maintain direct and continuous involvement in the business

Ongoing Obligations

If you were granted a visa under this stream, after entering Australia, you must meet the requirements of your venture capital agreement.

If you wish to apply for this visa, please contact one of our experienced immigration lawyers.

These applications require a lot of information and documentation. We will ensure your application is structured in such a way that it is given the best prospects of success.

We offer all our prospective clients an initial meeting, during which we will thoroughly explain the law surrounding this visa to you and inform you of the process moving forward.

To organise an initial consultation with us, please contact one of our experienced immigration lawyers on (02) 9590 3987.