Australian Business Owner Visa
Purpose of a Australian Business Owner Visa
An Australian business owner visa is one that allows owners of a business to move to Australia with the purpose of running it and contributing to the local economy. If you have your own company, this is a great way to be able to travel to Australia and be able to stay for an extended period of time.
Since there are many requirements that have complicated methods to prove, the subclass 890 Australian business owner visa is relatively challenging to obtain. Consulting with an expert on Australian immigration law can help the process go smoothly and quickly, and it will make sure that you don’t get your Australian business owner visa denied because of a minor error.
Main Benefits of an Australian Business Owner Visa
Having a business visa will allow the holder to stay in Australia for an indefinite period of time. In most cases, it allows you the possibility to work and study in Australia without having to obtain additional visas. Also, you can enroll in the Australian Medicare system, and the holder is given the option to sponsor relatives to get permanent residence in Australia.
Duration of Business Visa
Obtaining a Australian business owner visa to Australia grants permanent residence, but it only allows the holder the right to travel internationally for five years. After this time, there are options to continue with this benefit, but you will need to take additional action to maintain a status that allows you to re-enter Australia as often as you would like. We advise to plan for this early to reduce the risk of having limited travel plans.
Requirements for an Australian Business Owner Visa
As previously mentioned, a business owner visa has a long and detailed list of requirements. To begin with, there are the standard health and character requirements that are necessary to obtain any entry status to Australia. Next, of the previous two years, the holder must have spent 12 months in Australia.
In relation to the business, the Australian business owner visa applicant must have had direct and continuous management of the business for at least two years prior to the application, and will have to continue to have this after being granted the visa. Additionally, the holder has to have a specific percentage of ownership in the business, but the amount varies depend on the size of the company.
There are also strict monetary requirements. First, the applicant’s net value of assets in the business must have been minimum AUD$100,000 for the 12 months prior to the application. Furthermore, their net value of personal assets in the 12 months prior to the application must be at least AUD$250,000. Both of the previous numbers can be combined with the spouse of the applicant, in relevant situations. Also, you must prove that the business has had a revenue that is greater than AUD$300,000 in the 12 months before the application, and at least two full-time employees in the past 12 months must have been citizens or permanent residents of Australia, or holders of New Zealand passports.
The Migration Place can help you determine if you qualify for all of these, and we are able to aid you in getting the proper documentation to prove it. It can be extremely time consuming trying to compile all of the information, but we can help you complete it in a much shorter period of time.
Options for Other Types of Businesses
In the case that you can’t fulfill all of the requirements for a business visa, there are possibilities for other methods. For example, if you own a certain kind of business that is deemed necessary to Australia, you can apply for a different type of visa that has more relaxed requirements. So, if you believe that you don’t have everything necessary to fulfill the needs for a Australian business owner visa, be sure to speak with an immigration lawyer before abandoning the process. It’s possible that your business can have a special qualification that will get different treatment.
Bringing Family Members
This Australian business owner visa allows you to also apply to bring your spouse and dependent children with you to Australia. You will have to be able to prove their relationship to you, and they will also have to meet certain requirements (such as those relating to health and character).
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For more information about an Australian business owner visa, contact us today at The Migration Place.