The Business Owner visa allows successful business owners to reside in Australia on a permanent basis. To qualify for this visa, you must hold one of the required provisional business visas, and have managed your Australian business for at least two years. The minimum requirements for this visa are set out below:
BUSINESS OWNER VISA REQUIREMENTS
As the visa applicant, you must:
· hold one of the following provisional visas:
o Business Owner or State/Territory Sponsored Business Owner (subclasses 160 & 163)
o Senior Executive or State/Territory Sponsored Senior Executive (subclasses 161 & 164)
o Investor or State/Territory Sponsored Investor (subclasses 162 & 165)
· have been in Australia as the holder of one of these visas for a total of at least 12 months during the last two years
· You must have directly and continuously managed one or more businesses in Australia for at least the last two years
Note: Of that main business (or main two businesses), you (and your spouse/de facto partner, if applicable) must own at least:
o 51% where the turnover was less than A$400,000 per annum
o 30% where the turnover was A$400,000 or more per annum
o 10% where the business was a publicly listed company OR where you purchased your business prior to 19 April 2010
· During the last 12 months:
o your main business(es) must have had a turnover of at least A$300,000
o you (and/or your spouse/de facto partner, if applicable) must have had total net assets of at least A$100,000 in your main business(es)
o your main business(es) must have employed the equivalent of at least two full-time employees who are Australian citizens/permanent residents or New Zealand passport holders, and who are NOT members of your family
· You (and your spouse/de facto partner, if applicable) have never been involved in unacceptable business activities
· During the last 12 months, you (and/or your spouse or de facto partner, if applicable) must have had total net business and personal assets of at least A$250,000
Once you have provided the required information and supporting documents, we will notify the business development agency in the State or Territory in which your business is located of your intention to carry out business in that State/Territory. We will then prepare and lodge your visa application with the Department of Home Affairs (DOHA).
The main criterion is that you meet the requirements referred to above, which will involve providing evidence of the financial performance of your Australian business(es), and your net assets. In addition, you must meet the standard health and character checks.
Should your visa application be approved, you will be granted a permanent visa. You must be in Australia both when your application is lodged and when your visa is granted.
PLEASE NOTE: We estimate that it may take several weeks to prepare and lodge your application, with the time taken largely dependent on how promptly you (and your sponsor, if applicable) provide us with the necessary supporting information and documents.
The time that it takes the DOHA to process your application is dependent upon its processing time service standards, and may also vary due to a number of other factors, including the complexity of your case, perceived risk factors and processing priorities. Please contact us for current information regarding likely processing timeframes for this type of application.
188 Visa eligibility streams:
Note that business migration can be extremely complex, and even determining whether you have a good chance of qualifying can be difficult. In addition, you may be able to qualify in a number of different business migration categories.