Business Talent Visa (Subclass 132) Australia: Closed — What You Need to Know

Migratio Editorial · Last updated 25 September 2026

TL;DR: The Business Talent (Permanent) visa, subclass 132, closed to new applications on 31 July 2024 as part of a broader wind-down of Australia's business and investment visa program. Existing applications lodged before that date continue to be processed. There is no direct like-for-like replacement — the closest alternatives for high-calibre business migrants are the invitation-only National Innovation Visa (subclass 858) and, depending on occupation, points-tested or employer-sponsored skilled visas.

For many years, the Business Talent (Permanent) visa — subclass 132 — offered a direct route to Australian permanent residence for senior business owners and venture capital-backed entrepreneurs. That pathway is now closed. On 31 July 2024, the Department of Home Affairs shut the entire Business Innovation and Investment Program, including subclass 132, to new expressions of interest and visa applications. No new applications can be lodged.

If you have been researching the 132 visa, this article explains what it was, who it served, and what options are available to business migrants in 2026.

What the Subclass 132 Was

Why the 132 Closed — Context on the Program Wind-Down

What Existing Applicants & Visa Holders Should Know

The National Innovation Visa (Subclass 858) — The Closest Alternative

Other Pathways for Business Migrants in 2026

What the Closure Means Practically

Getting Advice on Your Situation

Frequently asked questions

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