State or Territory Sponsored Business Owner Visa
The Business Owner visa allows successful business owners to reside in Australia on a permanent basis. To qualify for this visa, you must hold one of the required provisional business visas, and have managed your Australian business for at least two years.
As the visa applicant, you must:
- hold one of the following provisional visas:
- Business Owner or State/Territory Sponsored Business Owner (subclasses 160 & 163)
- Senior Executive or State/Territory Sponsored Senior Executive (subclasses 161 & 164)
- Investor or State/Territory Sponsored Investor (subclasses 162 & 165)
- have been in Australia as the holder of one of these visas for a total of at least 12 months during the last two years and met all condition of your provisional visa
- be sponsored by an Australian State or Territory authority
- have a genuine commitment to continue to maintain business or investment activities in Australia
- meet health and character requirements (you and all your family members).
At the time of application:
- you must have directly and continuously managed one or more businesses in Australia for at least the last two years
- of that main business (or main two businesses), you (and your spouse/de facto partner, if applicable) must own at least:
- 51% where the turnover was less than AUD 400,000 per annum
- 30% where the turnover was AUD 400,000 or more per annum
- 10% where the business was a publicly listed company
- during the last 12 months your main business(es) must have had a turnover of at least AUD 200,000 (unless exceptional circumstances apply)
- you (and your spouse/de facto partner, if applicable) have never been involved in unacceptable business activities.
Employees & Net Assets
Throughout the last 12 months, you must have fulfilled at least two of the following criteria:
- you (and/or your spouse/de facto partner, if applicable) must have had total net assets of at least AUD 75,000 in your main business(es)
- you (and/or your spouse or de facto partner, if applicable) must have had total net business and personal assets of at least AUD 250,000
- your main business(es) must have provided minimum of 30 hours of work per week to one or more employees who are Australian citizen/permanent resident or a New Zealand passport holders, and not a member of your family.