The Business Owner Visa Subclass 890 and the State Territory Nominated Business Owner Subclass 892 are designed to attract business people to assist with the economic development of Australia. This pathway allows permanent residency for successful applicants and family members who have also been granted this visa.
At the time of making the application applicants need to:
- have held a qualifying provisional visa e.g. subclass 162 / 163 visa for at least two years.
- have maintained net assets in the business in Australia over the 12 months immediately before the application is made of at least AUD100,000; and have had an ownership interest in 1 or more actively operating businesses in Australia for at least 2 years immediately before the application is made; Ownership of 51 per cent where the business turnover is less than AUD400 000, 30 per cent where the business turnover is AUD400 000 or more or 10 per cent where the business is a publicly listed company.
- in the 12 months immediately before the application is lodged the applicant’s business must achieved a turnover of at least AUD300,000;
- applicants must have employed at least 2 full-time employees (or a number of part-time employees working an equivalent number of hours) being Australian citizens or permanent residents;
- applicant must have maintained net assets in Australia over the 12 months immediately before the application is made of at least AUD250,000;
- applicant must not have been involved in unacceptable business activities; and
- applicant must have spent at least 12 months in Australia over the 2 years immediately prior to lodging the application as the holder of a provisional visa.