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.
- 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 OR where you purchased your business prior to 19 April 2010
- during the last 12 months:
- your main business(es) must have had a turnover of at least AUD 300,000
- your main business(es) must have employed the equivalent of at least two full-time employees who are Australian citizens/permanent residents or New Zealand passport holders, and who are NOT members of your family
- you (and your spouse/de facto partner, if applicable) have never been involved in unacceptable business activities.
- during the last 12 months, you (and/or your spouse/de facto partner, if applicable) must have had total net assets of at least AUD 100,000 in your main business(es)
- during the last 12 months, 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.