A Business Owner Visa (subclass 890) is for people who own and manage a business in Australia. This is a permanent residence visa. An individual will be able to travel in and out of Australia for five years.
Who could be eligible to get this visa-
An individual might be able to get this visa if:
- All the conditions of their provisional visa have been met.
- They have lived in Australia on one of these visas for at least 12 months in the past two years
- Managed their business in Australia for the past two years.
- They and all their family members meet health and character requirements
- They have a genuine commitment to continue to maintain business or investment activities in Australia
- Neither they nor their spouse or de facto partner has ever been involved in unacceptable business activities.
What this visa allows for: –
This visa allows the individual and their family members to –
- Reside in Australia indefinitely
- Work and study in Australia
- Enroll in Medicare, Australia’s scheme for health-related care and expenses
- Apply for Australian citizenship if they are eligible
- Sponsor eligible relatives for permanent residence
- Travel to and from Australia for five years from the date the visa is granted (after that time, they will require a resident return visa or another visa to return to Australia).
The visa application charges are listed in Fees and charges.
Other charges that needs to be catered to by the individual are the costs of health assessments, police certificates, or any other certificates or tests. The individual is responsible for making the necessary arrangements.
They must show they can meet the following requirements in order to be granted a Business Owner visa:
- Ownership of a main business or main businesses
- Acquisition of a main business or main businesses
- Employees and business/ personal assets
- Management in the main business or main businesses.
Ownership of a main business or main businesses
An individual must have had, and continue to have until a decision has been made on their visa application, an ownership interest in up to two actively operating main businesses in Australia for at least two years immediately before an application is made.
They and their spouse or de facto partner must own at least:
- 51 per cent of the business where the turnover is less than Australian dollars (AUD) 400,000
- 30 per cent of the business where the turnover is AUD 400,000 or more, or
- 10 per cent where the business is a publicly listed company.
Further information on how to demonstrate legal ownership of the business(es) is available in the Document checklist.
Acquisition of a main business or main businesses
An individual must be able to demonstrate that they legally acquired or established the business or businesses nominated in their application. Further information on how to demonstrate legal acquisition of the business(es) is available in the Document checklist.
The individual must also show:
Employees – throughout the 12 months immediately before they apply their (or both partner’s) businesses employed at least the equivalent of one full–time employee who is both:
- An Australian citizen, permanent resident or New Zealand passport holder
- Not a member of their family.
Business assets – the net value of their (or both partner’s combined) assets in the main business (or two main businesses) in Australia is at least AUD 100,000 throughout the 12 months immediately before they apply
- Business and personal assets – the net value of their (or both partner’s combined) personal and business assets in Australia has been at least AUD 250,000 throughout the 12 months immediately before they apply.
Further information on how to demonstrate employment and business/personal assets is available in the Document checklist.
The individual and their family must comply with all visa conditions and Australian laws.
They must fulfill their business obligations.
In addition to the above-mentioned conditions, there are other factors and criteria to be taken into consideration.