The State/Territory Sponsored Business Owner visa (subclass 892) is for people who own a new or existing business and are sponsored by a state or territory authority. This is a permanent residence visa. An individual will be able to stay in Australia for five years.
An individual might be able to get this visa if:
- They met all the conditions of their provisional visa
- They are sponsored by a state or territory authority
- They have lived in Australia on one of these visas for at least 12 months in the past two years
- 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
- They and all their family members meet health and character requirements.
What this visa allows for:
This is a permanent residence visa. It allows the individual and any of their family members who have also been granted this visa:
- Stay 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 need 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 that they can meet the following requirements in order to be granted a State/ Territory Sponsored Business Owner visa (subclass 892):
- 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
They must have had, and continue to have until a decision has been made on their visa application, an ownership interest in up to 2 actively operating main businesses in Australia for at least 2 years immediately before an application is made.
They and their spouse or de facto partner must own at least:
- 51% of the business where the turnover is less than AUD 400 000
- 30% of the business where the turnover is AUD 400 000 or more, or
- 10% 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
They 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.
Employees and business/ personal assets
Unless the appropriate regional authority has determined that there are exceptional circumstances, they must meet at least two of the following three requirements,
- 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 the individual (or both partner’s combined) assets in the main business (or two main businesses) in Australia is at least AUD75 000 throughout the 12 months immediately before you apply
- Business and personal assets –the net value of the individual (or both partner combined) personal and business assets in Australia has been at least AUD250 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 also fulfill all their business obligations.
In addition to the above-mentioned conditions, there are other factors and criteria to be taken into consideration.