132 Business Talent Visa – Significant Business History stream
Before an applicant submits an EOI he or she should verify his or her eligibility:
- < 55 years of age / Business of exceptional economic benefit.
- Net assets – AUD 400K (2 of the 4 fiscal years)
- Total assets – AUD 1.5 mn (to be transferred within 2 years to Australia)
- Total annual turnover – AUD 3 mn (2 of the 4 fiscal years)
- 51 % of the business – turnover < AUD400K per annum
- 30 % of business – turnover > AUD400 K per annum
- 10 % of a publicly-listed company
- Successful business career.
Six months from the date of State Nomination approval, the applicant should provide a more detailed business proposal and evidence that research into the proposal has taken place. The applicant needs to demonstrate that they have a genuine intention of investing and engaging in a business activity in Western Australia. Apply for Permanent Visa
A significant step in the process includes the submission of relevant legal, financial and organisational documents.
- A statement outlining business/investment activities
- Nature of research.
- Business activities and period of ownership, if applicable
- Day-to-day management of the business – 2 of the 4 fiscal years. Including:
- Business contracts
- Minutes of meetings
- Documents initiated or Authorised by the applicant.
- Involvement in decisions (strategic management, recruitment, price structure, business profitability, expenditure)
- A registration certificate or licence.
- A share of ownership. Including:
- Evidence of purchase
- Share registers/ company registers / share transfer documents
- Historical company extracts
- Annual returns of directors and shareholders
- Partnership /trust /franchise agreements.
- Financial statements by an independent accountant to international accounting standards, including:
- Balance sheet, profit and loss statement and notes to the accounts
- 2 of the 4 fiscal years
- One-page organisational chart