Business Owner (Subclass 890) visa and State Sponsored Business Owner (Subclass 892) visa

Publish Date: Nov 04, 2012

Business Owner (Subclass 890) visa

The Business Owner (Subclass 890) visa is not subject to the new Skillselect arrangements. 

For a Business Owner (Subclass 890) visa you must prove that:

  • you had an ownership interest in a business or businesses in Australia for 2 years
  • the businesses were lawfully established and operated
  • throughout the 12 months immediately prior to lodging the permanent residence application:
    • you had an interest in the Australia business or businesses worth $100,000
    • the Australian business or businesses had a turnover $300,000
    • you employed the equivalent of 2 full-time Australia employees in the Australian business or businesses
    • you have assets worth $250,000 in Australia
  • you lived in Australia for 12 months throughout the 2 years immediately prior to lodging the permanent residence application.
Be aware that:
  • only certain types of businesses can count towards your successful business career
  • you must hold least 30% and often more than 51% of the total issued capital
  • it is not enough for you to provide bank accounts as evidence of your assets or the turnover of your business
  • you must provide legal documents to prove you own your assets / business, and audited reports prepared to international standards to prove the turnover of your business and/or value of your assets.

Our expert migration and business lawyers can provide you with complete advice about whether or not you can qualify for a Business Owner (Subclass 890) visa and the types of evidence that you will need to put forward in support of your application.

Sponsored Business Owner (Subclass 892) visa

The Sponsored Business Owner (Subclass 892) visa is not subject to the new Skillselect arrangements.

People who seek to qualify for a Sponsored Business Owner (Subclass 892) visa must prove that:

 
  • they have had an ownership interest in a business or businesses in Australia for 2 years
  • the businesses were lawfully established and operated
  • throughout the 12 months immediately prior to lodging the permanent residence application two of the following applied:
    • they and their spouse had an interest in the Australia business or businesses worth $75,000
    • they employed the equivalent of 1 full-time Australia employee in the Australian business or businesses
    • they have assets worth $250,000 in Australia
  • throughout the 12 months immediately prior to lodging the permanent residence application their business or businesses had a turnover of $200,000
  • they are sponsored by a State or Territory Government.
Note:
  • only certain type of Australian businesses count for the purpose of a Sponsored Business Owner (Subclass 892) visa
  • you must hold at least 30% and often more than 51% of the total issued capital
  • it is not enough for you to provide bank accounts as evidence of your assets or the turnover of your business
  • you must provide legal documents to prove you own your assets / business and audited reports prepared to international standards to prove the turnover of your business and/or value of your assets.

Our expert commercial and migration lawyers can provide you with complete advice about whether or not you can qualify for a Sponsored Business Owner (Subclass 892) visa and the evidence that you will need to submit in support of your application, including the application to the State or Territory government.

Let us help you. Phone: +61 2 8268 4000 or Book a conference