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Australia Business Owner Visa (subclass 890)
BUSINESS OWNER VISA (SUBCLASS 890)

Australia is indeed a good place to run business, owing to the availability of ample resources and lifestyle of people living over there.

That’s why people from different countries set up a business in this country by opening a new venture or a branch of their existing business in the home country. And as valuable information regarding country’s scenario pertaining to business and related policies is available easily from reliable sources on various online platforms, people are even more encouraged and can take informed decision about the same.

To manage the business efficiently, it is necessary that you stay in Australia itself and for this there are different provisional (temporary) visas, made especially for the business community. While having any of these visas enables you to carry out your business activities, after a period of time, you may want to attain permanent residency in the country.

Well, Business Owner Visa (subclass 890) is made for this purpose only.

What is it?

It gives you the right of permanent residency in Australia.

Who can apply?

The business owners, managers or executives, who are currently indulged in business activities in the country and hold provisional business visa can apply for this visa, gaining which they can live and work in Australia permanently (indefinitely).

Eligibility

Following is the eligibility criteria you must fulfill for applying for this visa:

1. Basic:

   1) The most important point is that you should own a business entity in Australia.

   2) You or your current or former spouse or partner must currently be the holder of any one of the following business provisional (temporary) visas:

      i. Business Owner (Provisional) visa (subclass 160)

      ii. Business Owner (Provisional) visa (subclass 160)

      iii. Investor (Provisional) visa (subclass 162)

      iv. State/Territory Sponsored Business Owner (Provisional) visa (subclass 163)

      v. State/Territory Sponsored Senior Executive (Provisional) visa (subclass 164)

      vi. State/Territory Sponsored Investor (Provisional) visa (subclass 165)

   3) You ought to meet all the conditions of your provisional visa.

   4) You have lived in this country for at least 12 months out of two years immediately preceding the lodging of visa application.

   5) You are genuinely committed to continue business and investment activities in Australia.

   6) You and your family members must satisfy health requirements and this is certified by a proper medical examination.

   7) You and your family members should meet character requirements and this is certified by a police certificate.

   8) You or your partner should not have engaged in any sort of illegal activity ever.

2. Business:

   1) You must be operating at least 2 businesses from the last 2 years; in other words, you must be operating at least 2 businesses for at least 2 years, immediately before submitting the application.

   2) You should have submitted Business Activity Statements (BAS) in the office of Australian taxation authorities (Australian Taxation Office – ATO) for the last 2 years, with reference to all the businesses that you have included in your application.

   3) You must have at least:

      a) 51 per cent of a business with an annual turnover of less than AUD 400,000

      b) 30 per cent of a business with an annual turnover of AUD 400,000

      c) 10 per cent of a business that is a publicly listed company

      d) 10 per cent of your main business in Australia if purchased before 19 April 2010

   4) You should be able to show at least two of these three conditions as satisfied:

      a) Have net assets (your or you and your partner’s combined) worth of at least AUD 100,000 in the main business (or two main businesses) throughout the 12 months immediately before filing an application.

      b) Net Value of your personal and business assets (or you and your partner’s combined) has been at least AUD 250, 000 throughout the 12 months immediately before filing an application.

      c) You have employed at least two persons, who are full time Australian citizens or permanent residents or New Zealand passport holders in your business throughout the 12 months immediately before filing the application, subject to the fact that they not family members.

   5) You need to show that your main business (or two businesses combined) had a turnover of at least AUD 300, 000 in the last 2 years immediately before filing an application.

How to proceed?

On fulfilling the required conditions as mentioned above, you can apply for Business Owner Visa (subclass 890) to the Department of Immigration and Border Protection (DIBP). The authorities verify everything and on getting assured sanction visa to the applicants.

Important points regarding visa application:

Family

   You can include following family members in your application:

      Your partner

      Your or your partner’s child or step-child.

   Till the time your application gets approved, you can add more members of your family.

Documents

    described above in the eligibility criteria, it is essential to fulfil several requirements. Hence, you ought to submit all the necessary documents along with your visa application in order to prove that these requirements are met properly.

What happens after approval of visa?

   If your application gets approved, you would receive the title of a “permanent resident” of Australia as this falls under the category of permanent residence visa. And you can travel to and from Australia for the period of next 5 years, beginning from the day visa is granted.

   The benefits of this visa are mentioned as below.

Benefits of Business Owner Visa (Subclass – 890)

    This visa allows you to:

       Live and work in Australia indefinitely.

       Study in Australia.

       Enroll in Medicare, which is Australia’s scheme for health-related care and expenses.

       Sponsor relatives for permanent residence.

       Travel to and from Australia for five years.

       Apply for Australian citizenship on meeting certain eligibility criteria.

Rules and regulations

   The businesses operated in Australia have to work according to the legislations formed for the business sector in the economy.

   The owner has to abide by all the rules, regulations and policies framed by the Australian authorities for conducting business. Also, they need to follow the different laws prescribed for the registration of business, declaring financial statements of business, taxation, workplace safety, employees’ health and benefits, environmental concerns, social responsibility etc.

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