Thinking About a Business PR Visa for Australia?
Explore how the Subclass 132 visa used to work and learn how Trust Vista Consulting can help you find the best alternative options available today.
What Was the Subclass 132 Visa?
The Subclass 132 Business Talent visa was a permanent residency visa designed for high-net-worth individuals and experienced business owners who wanted to establish or expand a business in Australia. It featured two key streams:
- Significant Business History, and
- Venture Capital Entrepreneur.
Although the visa has been closed to new applicants since July 1, 2021, understanding its structure is still valuable—especially if you’re considering similar options like the Subclass 188 Business Innovation and Investment visa.
Who Was Eligible for the Subclass 132 Visa?
The visa catered to individuals with a strong track record in managing successful businesses or launching innovative ventures. This included:
- Business owners aiming to expand into Australia, and
- Entrepreneurs with funding support from venture capital firms.
Applicants needed to demonstrate substantial business experience and a genuine interest in contributing to Australia’s economy.
Benefits of the Subclass 132 Visa
Those who received the visa were granted:
- Direct permanent residency,
- Access to Medicare,
- Travel rights, and
- The ability to include eligible family members in their application.
It was especially attractive to business professionals seeking long-term opportunities in Australia.
How Trust Vista Consulting Supports Business Migration Clients
Trust Vista Consulting provides end-to-end assistance, helping you:
- Assess your eligibility,
- Submit a strong Expression of Interest (EOI),
- Navigate state nominations,
- Organize documentation, and
- Ensure a seamless transition to Australia.
Our team ensures every step of your application is accurate and aligned with current immigration policies.
Subclass 132 Visa Streams Explained
1. Significant Business History Stream
Ideal for seasoned business owners, this stream required:
- Proof of ownership and successful operation of a business,
- Net assets of at least AUD 1.5 million, and
- An annual business turnover of AUD 3 million (in at least two of the last four years).
Applicants were generally required to be under 55 years old, unless exceptionally qualified.
2. Venture Capital Entrepreneur Stream
This stream was tailored for innovative entrepreneurs who secured at least AUD 1 million in funding from an Australian venture capital firm. It focused on startups and early-stage businesses with high growth potential.
Key Differences Between the Two Streams
- Significant Business History: Best suited for established business owners with a strong financial record.
- Venture Capital Entrepreneur: Designed for startup founders and innovators backed by VC firms.
The former emphasized past performance, while the latter focused on future potential.
Step-by-Step Process to Apply for the Subclass 132 Visa
Step 1 – Check Your Eligibility
Age, net assets, business turnover, and funding (for the VC stream) were core requirements. Trust Vista Consulting evaluates your business profile to determine the right visa stream and ensure you qualify.
Step 2 – Submit an Expression of Interest (EOI) via SkillSelect
You had to submit your EOI through SkillSelect, choosing the state or territory for your nomination and providing detailed personal and business information.
Step 3 – Obtain State or Territory Nomination
Every state had its own nomination requirements. We helped tailor your business plan to match the specific needs of the region, increasing your chances of nomination.
Step 4 – Receive an Invitation to Apply (ITA)
Once nominated, you’d receive an ITA from the Department of Home Affairs. At this stage, it was crucial to compile accurate business records and investment details.
Step 5 – Submit Your Visa Application
Applicants submitted documents like tax returns, financial statements, ownership proofs, and business plans. Trust Vista Consulting ensured every file met Home Affairs’ standards to reduce delays.
Step 6 – Complete Health & Police Checks
Health assessments and police clearances were mandatory. We guided applicants through scheduling with approved centers and preparing required documents.
Step 7 – Wait for a Decision and Prepare for Your Move
Processing could take 6 to 18 months. Meanwhile, we supported clients with relocation planning, from housing to business registration and settlement guidance.
Documents Required for Subclass 132 Visa
- Identity Proofs: Valid passports, birth certificates, and certified translations.
- Business Ownership Documents: Shareholder agreements, registration papers, etc.
- Financial Records: Audited financials, asset valuations, profit & loss statements.
- Nomination & Business Plans: Backing from VC firms (for VC stream), nomination letters, and detailed business proposals highlighting contributions to Australia’s economy.
Common Mistakes to Avoid
- Missing or Unverified Financial Data: Incomplete records led to delays or rejection.
- Overstated Business Turnover: All claims had to be accurate and backed by documentation.
- Ignoring State-Specific Nomination Criteria: Applications that didn’t align with regional strategies were often declined.
Why Choose Trust Vista Consulting?
✅ In-Depth Business Profile Review
We analyze your profile thoroughly to match you with the best-fit stream and state requirements—reducing surprises during nomination or visa processing.
✅ Full Application Management
From EOI to final submission, we handle every detail—business plans, documentation, communication, and more.
✅ Tailored Strategy for Investors & Entrepreneurs
Whether you’re expanding an existing business or launching a new venture, we provide customized strategies for optimal results.
Final Thoughts: Begin Your Business Journey in Australia
The Subclass 132 Visa May Be Closed, But Other Opportunities Exist
If you’re looking to secure permanent residency in Australia through business investment, the Subclass 188 visa is now the primary pathway. It offers flexible streams for business innovation, investment, and entrepreneur ventures.
Get a Free Eligibility Assessment with Trust Vista Consulting
We’re here to help you identify the best business visa option for your goals. Contact Trust Vista Consulting today for a free consultation and take the next step toward building your future in Australia.
