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Edit Content890 892 Business Owner Permenant Vis
Business Owner (Residence) (Subclass 890)For people to assist in the economic development of Australia. This visa
1. Business Owner (Residence) (Subclass 890)
For people to assist in the economic development of Australia. This visa allows you to stay in Australia on a permanent basis for the purpose of owning a new or existing business.
2. State/Territory Sponsored Business Owner (Residence) (Subclass 892)
For people, sponsored by a state or territory of Australia, to assist in the economic development of Australia by ownership of a new or existing business.
Business Owner (Residence) (Subclass 890)
Provisional visa holder
You are the holder of one of the following visas:
- Business Owner (Provisional) (subclass 160)
- State/Territory Sponsored Business Owner (Provisional) (subclass 163)
- Senior Executive (Provisional) (subclass 161)
- State/Territory Sponsored Senior Executive (Provisional) (subclass 164)
- Investor (Provisional) (subclass 162)
- State/Territory Sponsored Investor (Provisional) (subclass 165).
You must have been in Australia as the holder of one of the qualifying visas for a total of at least one year in the two years immediately before you apply
Ownership interest
In your main business (or two main businesses) in Australia, you have had and continue to have direct and continuous management for at least two years immediately before you apply. In addition you must own at least:
- 51 per cent of the business where the turnover is less than AUD400 000 per annum
- 30 per cent of the business where the turnover is AUD400 000 or more per annum
- 10 per cent where the business is a publicly listed company.
A transitional provision is available if you have purchased a main business in Australia prior to 19 April 2010 and you are applying for this visa. Under these circumstances a minimum of 10 per cent ownership in a main business is required.
For each of these businesses, an Australian Business Number has been obtained and all Business Activity Statements required by the Australian Taxation Office (ATO) have been submitted to the ATO and certified copies of these are included in your application.
Net business assets
The net value of your (or your and your partner's combined) assets in the main business (or two main businesses) in Australia is at least AUD100 000 throughout the 12 months immediately before you apply.
Net personal and business assets
The net value of your (or you and your partner's combined) personal and business assets in Australia has been at least AUD250 000 throughout the 12 months immediately before you apply.
Annual turnover
Your main business (or two main businesses together), had a turnover of at least AUD300 000 in the 12 months immediately before you apply.
Provided employment
Throughout the 12 months immediately before you apply, your (or your and your partner's) business (or two main businesses) employed at least the equivalent of two full-time employees who are:
- Australian citizens
- Australian permanent residents
- New Zealand passport holders
- not members of your family.
State/Territory Sponsored Business Owner (Residence) (Subclass 892)
Ownership interest
You have had and continue to have, an ownership interest and direct and continuous management, in up to two actively operating main business in Australia for at least two years immediately before you apply. You must own at least:
- 51 per cent of the business where the turnover is less than AUD400 000 per annum
- 30 per cent of the business where the turnover is AUD400 000 or more per annum
- 10 per cent where the business is a publicly listed company.
A transitional provision is available if you have purchased a main business in Australia prior to 19 April 2010 and you are applying for this visa. Under these circumstances a minimum of 10 per cent ownership in a main business is required.
For each of these businesses, an Australian Business Number has been obtained for all Business Activity Statements (BAS) required by the Australian Taxation Office and you can provide evidence that the BAS were lodged to the ATO for the 2 years before you lodged your visa application.
Acceptable business record
You (or your partner) have never been involved in unacceptable business activities.
Time in Australia
You have been in Australia for at least one year cumulatively in the two years before you apply.
Other requirements
You must also meet at least two of the following three requirements (unless the appropriate state/territory authority has determined there are exceptional circumstances).
- Net business assets – the net value of your (or your and your partner's combined) assets in the main business (or two main business) in Australia is at least AUD75 000 throughout the 12 months immediately before you apply.
- Net personal and business assets – the net value of your (or you and your partner's combined) personal and business assets in Australia has been at least AUD250 000 throughout the 12 months immediately before you apply.
-
Provided employment – throughout the 12 months immediately before you apply your (or your and your partner's) business or two main businesses employed at least the equivalent of one full–time employee who is:
- an Australian citizen, permanent resident or New Zealand passport holder
- not a member of your family.
Annual turnover
Your main business (or two main businesses together), had a turnover of at least AUD200 000 in the 12 months immediately before you apply.
See: Definitions
See: Definitions
This may not apply if you meet all of the following conditions:
- you met at least two of the three requirements above (net business assets, net personal and business assets, provided employment)
- the appropriate state/territory authority has determined there are exceptional circumstances
- both your business and residence is located in a designated regional or low growth area.