This visa is available for high-calibre business people who have a genuine commitment to operate a business in Australia.
This visa provides permanent residence status at the first stage. You must be nominated by the Government of Western Australia to apply for this visa. State nomination criteria includes:
- you have maintained at least a 30 per cent ownership share (or 10 per cent where the business is a publicly listed company) and directly managed a business which had turnover of at least AUD$3,000,000 for two of the last four fiscal years
- your net assets in business were at least AUD$400,000 for two of the last four fiscal years
- your proposed business activity in Western Australia will generate substantial economic benefits for the State of Western Australia (refer to the State nomination guidelines)
- you must maintain a substantial ownership interest in your proposed business activity in Western Australia
- you will meet the business investment, employment creation and purchase of a residence as negotiated in your State nomination agreement with the Government of Western Australia (WA), at time of Department of Home Affairs 24 month Survey of Business Skills Visa Holders (Form 1010)
- you are less than 55 years of age, or you are proposing to participate in a business activity which will be of exceptional economic benefit to the State (refer to the State nomination guidelines)
Applications are assessed on a case by case basis, however, the general guidelines for State Nomination are:
Any qualifying business:
- value of net assets to be in business in WA: at least AUD$1 million
- creation of at least one new job (full time equivalent) in WA
- a residence is to be purchased in WA
Property development business:
- value of net assets to be in business in WA: at least AUD$1.5 million
- creation of at least two new jobs (full time equivalent) in WA
- a residence is to be purchased in WA
General guidelines are as follows:
- the venture capital entrepreneur stream was designed for a small number of highly talented individuals with high potential, high value business ideas
- ideally, these individuals should have appropriate background in the area in which Venture Capital (VC) funding is sought which could be evidenced through tertiary qualification, business ownership, and/or patents for invention held in other countries
- the VC investment must have been raised from funds that are not connected with the individuals seeking the VC funding. Applicants must declare in their application that the visa VC funds are not drawn from their own funds or funds related to the applicant’s own money or any associates investing on their behalf
- individuals should not just be employees of a company/business. They should be genuinely interested and skilled in managing/owning the business
State Nomination criteria includes:
- you must have entered into a legally binding agreement with an Australian venture capital firm for funding of at least AUD$1,000,000, to be invested into the start-up, product commercialisation or business development of a promising high-value business idea
- the venture capital firm must be a member of the Australian Private Equity and Venture Capital Association Limited (AVCAL). AVCAL has information about the venture capital category of membership in the Venture Capital entrepreneur visa factsheet
132 State Nomination Application Process
- You will need to complete the 132 Business Talent State nomination application form, pay the nominated fee and submit your application with supporting documentation to the Business Migration Centre (BMC) for conditional approval. No formal business proposal is required at this stage however details of the proposed business activities will need to be provided in the application form.
- If your application is assessed as meeting the criteria, conditional nomination is granted and you are advised to attend an interview with a Government of Western Australia officer either in Perth or the nearest overseas post. If your interview is successful, you will be granted full State Nomination and you can now proceed with lodging your Expression Of Interest (EOI) with SkillSelect.
- For the Business Talent Visa 132 Significant Business History stream only: Six months from the date of State Nomination approval, you will be requested to provide a more detailed business proposal and evidence that research into your proposal has taken place. You will need to demonstrate you have a genuine intention of investing and engaging in a business activity in Western Australia.
Failure to provide a satisfactory response may result in the withdrawal of your State Nomination by the BMC.
Supporting documentation accompanying your business proposal should include, but is not limited to the following:
- evidence of in depth business research and a realistic business concept
- third party evidence of communication, meetings and/or negotiations with prospective vendors, suppliers and/or buyers
- prior travel to Western Australia
- On your initial entry to Western Australia, after your visa is approved, you are required to attend a meeting with a business migration officer in order to further assess the progress of your proposed business activities. You will be required to confirm contact details for monitoring purposes
- You will be required to participate in a monitoring survey after visa approval, approximately 24 months after your first entry.
Failure to respond may result in the BMC not supporting your application at the Department of Home Affairs monitoring stage.
You must complete and return the survey and demonstrate how you are meeting the conditions of your State Nomination Agreement, including:
- total capital transfer to WA
- business investment
- type of business activity
- location of business activity
- employment generation
Upon arrival in Western Australia, Business Talent visa holders are expected to quickly become actively involved in business in Western Australia and are subject to monitoring by both the Department of Home Affairs and the Government of Western Australia to assist them fulfil their business activities.
How to apply
Lodge an application for State nomination with the Business Migration Centre (BMC). A fee of $AUD750 applies to all visa nomination applications lodged with the BMC.
If you are granted State nomination you can proceed to lodge an Expression of Interest (EOI) through SkillSelect.
Once nominated in SkillSelect by the BMC, you will receive an invitation from Department of Home Affairs to lodge your Business visa application which must be completed within 60 days using Department of Home Affairs electronic lodgement system.
If you do not submit your visa application within 60 days as required by the Department of Home Affairs, your State nomination will no longer be valid. If you plan to continue with your visa application you will need to submit a new State nomination application and pay the application fee to the Business Migration Centre. Please note, as State nomination numbers are limited there is no guarantee your second application will be successful and a re-nomination is not guaranteed.