Business Innovation and Investment
The following visa subclasses are applicable under certain conditions explained below:
State/Territory Sponsored Business Owner visa (subclass 892)
This is a permanent residence visa. You will be able to stay in Australia for five years.
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.
You can apply if you already hold a qualifying provisional business visa.
You might be able to get this visa if you:
• hold a qualifying provisional visa
• are sponsored by a state or territory authority.
This is a permanent residence visa. It allows you and any family members who have also been granted this visa to:
• stay in Australia indefinitely
• work and study in Australia
• enrol in Medicare, Australia's scheme for health-related care and expenses
• apply for Australian citizenship (if you 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, you will need a resident return visa or another visa to return to Australia).
You must show you can meet the following requirements for:
• business operations
• business ownership
• assets and employees
• business turnover.
You must show:
• you have had direct and continuous management of up to two businesses operating in Australia for the past two years
• you have lodged Business Activity Statements (BAS) to the Australian Taxation Office for the past two years for all the businesses included in your application.
You must own at least one of the following:
• 51 per cent of the business where the annual turnover is less than AUD400 000
• 30 per cent of the business where the annual turnover is more than AUD400 000
• 10 per cent of a publicly listed company
• 10 per cent of your main business in Australia if purchased before 19 April 2010.
Assets and employees
You meet at least two of the following three requirements, unless a state or territory authority has accepted there are exceptional circumstances:
• Net business assets - the net value of your (or you and your 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
• 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 you and your partner's) businesses employed at least the equivalent of one full–time employee who is both:
o an Australian citizen, permanent resident or New Zealand passport holder
o not a member of your family.
You must show that your main business or two main businesses together had a turnover of at least AUD200 000 in the past 12 months. This may not apply if you meet all of the following conditions:
• you met at least two of the three requirements for Net business assets, Net personal and business assets and Provided employment
• the appropriate state or territory authority has determined there are exceptional circumstances
• both your business and residence are located in a designated regional or low-growth area.
Please contact us for further information about this visa.