business visas - visa requirements - business owner |
The Business Owner Visas is designed for successful business owners with a
legitimate interest in establishing and managing a business in Australia. The
requirements of the Business Owner Visa are:
- For two of the past four fiscal years, the applicant must have an actively
operating business(es) (ie, not for passive or speculative purposes) in an
overseas country
- Must have actively participated in the management of that business.
- Over the same period, the applicant’s main business/s must have had an
annual turnover of at least AUD$500,000.
- For two of the past four years, the applicant, applicant’s spouse or both
must hold:
- ownership interest of at least AUD$200,000 in the business/s, or at least
a 10% share in the business if publicly listed company AND
- have net business and personal assets of at least AUD$500 000; which must
be lawfully acquired and available for transfer to Australia within 2 years
after the grant of the visa.
Sponsorship – under the Business Owner Visa it is possible to obtain
sponsorship from a State or Territory Government to encourage successful
business people to settle in Australia and set up a business. If you are
successful in securing sponsorship, your visa application will be considered
against a lower business turnover threshold. Each State and Territory Government
has different criteria for deciding whom they will sponsor.
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