Business Owner visa 890
890 Visa Australia
Business owner visa australia
Processing times: Unavailable due to low volume of applications
With this visa, you can…
- continue to own and operate a business in Australia
- sponsor eligible relatives for permanent residence
- apply for Australian citizenship, if eligible
- hold an eligible visa
- have lived in Australian on that visa for at least 12 months in the 2 years immediately before the application is made while holding this visa
- have owned and operated a business in Australia for at least 2 years immediately before the application is made
With this visa, you can
- stay in Australia permanently
- work and study in Australia
- enrol in Australia’s public health care scheme, Medicare
- sponsor your relatives to come to Australia
- travel to and from Australia for 5 years
- if eligible, become an Australian citizen
Newly arrived residents may have to wait before they can access certain Australian Government payments and benefits.
How long you can stay
This is a permanent visa. It lets you stay in Australia indefinitely. The visa has a travel component that expires 5 years after the date of visa grant.
You become a permanent resident on the day we grant the visa.
For citizenship purposes, your permanent residency starts on the day:
- we grant the visa, if you are in Australia
- you enter Australia on this visa, if you are outside Australia
You can include members of the family unit in your application. You can:
- include them when you lodge your visa application
- add them after you lodge your application but before we decide on your visa
A member of the family unit can include family members who hold an eligible visa that was granted on the basis that they were a member of your family unit at the time their eligible visa was granted. This provision may apply even where the person would no longer meet the definition of members of the family unit, for example a child who has turned 23 years of age since their eligible visa was granted.
A member of the family unit who applies for the visa must meet our health and character. A member of the family unit not accompanying you to Australia may also need to meet our health and character requirements.
We assess applications on a case-by-case basis, and actual processing times can vary due to individual circumstances including:
• whether you have lodged a complete application, including all necessary supporting documents
• how quickly you respond to any requests for additional information
• how long it takes to perform required checks on the supporting information provided
• how long it takes to receive additional information from external agencies, particularly in relation to health, character, and national security requirements
• for permanent migration visa applications, how many places are available in the migration program
You and your members of the family unit must obey all Australian laws.
We expect you to continue your business activity in Australia, or make a realistic commitment to doing so.
We will digitally link your visa to your passport. You will not get a label in your passport.
Have an eligible visa
You must currently hold an eligible visa. Eligible visa means:
- You hold a visa in any of the following visa subclasses:
- Business Owner (Provisional) visa (subclass 160)
- Senior Executive (Provisional) visa (subclass 161)
- Investor (Provisional) visa (subclass 162)
- State/Territory Sponsored Business Owner (Provisional) visa (subclass 163)
- State/Territory Sponsored Senior Executive (Provisional) visa (subclass 164)
- State/Territory Sponsored Investor (Provisional) visa (subclass 165)
- Your current visa was granted to you on the basis that you, or your partner, or your former partner satisfied the primary criteria for the grant of that visa.
Meet the residence requirement
You must have been in Australia as the holder of an eligible visa for a total of at least 1 year in the 2 years immediately before the application is made. The 1-year period does not have to be continuous.
Own and manage a business
For the 2 years immediately before you apply, you must have had, and continue to have, an ownership interest in one or more actively operating main businesses in Australia.
For each nominated main business you must provide evidence of:
- ownership interest in the business
- value of your ownership interest
- for the 2 years immediately before you apply, the value of your ownership interest or the total value of the ownership interest of you and your partner, must have been at least:
- 51% of a business with a turnover of less than AUD400,000 per year, or
- 30% of a business with a turnover of AUD400,000 or more per year, or
- 10% of a publicly listed company
- that you had and continue to have, a direct and continuous management role in that business on a day to day basis (including periods when you are outside of Australia)
- that each main business meets the criteria to be assessed as a qualifying business
- obtained an Australian Business Number (ABN) for each of your main businesss (you can rely on a maximum of two ABNs)
- provide evidence of portal process Business Activity Statements issued by the Australian Taxation Office
If you spent more than 6 weeks in total outside Australia during the 2 years, you must explain how you managed the business while you were away.
Meet the assets and employees requirement
At the time you apply and throughout the 12 months immediately before you apply, you must show that you and/or your partner had:
- net business assets in the main businesses of at least AUD100,000 and those assets were lawfully acquired
- for the 12 months immediately before you apply, you must evidence annual turnover in your main business (or 2 main businesses together) of at least AUD300,000
- for the 12 months immediately before you apply you must provide evidence that the nominated main businesses employed 2 full-time employees or the equivalent of 2 full-time employees. Employees must be Australian citizens, permanent residents or New Zealand passport holders and you cannot include yourself or members of the family unit
Business and personal assets
At the time you apply and throughout the 12 months immediately before you apply, you must show that the net value of your and/or your partner’s net business and personal assets in Australia was at least AUD250,000.
You must not have engaged in business activities that are generally unacceptable in Australia.
Be this age
There is no age limit for this visa
Meet our health requirement
You must meet our health requirement and any member of the family unit who applies with you might have to meet our health requirement, depending upon their circumstances. In some circumstances you will not have to do medicals again.
You should not do medicals until we ask you to do so.
Meet our character requirement
You and the members of your family unit aged 16 years and over who apply for the visa with you must meet our character requirement. Members of your family unit not accompanying you to Australia must also meet the requirement.
Sign the Australian values statement
All applicants who are 18 years of age or older, must:
- have read, or had explained to them, the Life in Australia and
- confirm they will respect the Australian way of life and obey Australian laws when they sign an Australian Values Statement.
Have paid back your debt to the Australian government
If you, or any members of your family unit (including those who do not apply for the visa with you) owe the Australian Government money, you or they must have paid it back or arranged to pay it back.
Not have had a visa cancelled or a previous application refused
You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia.
Read And Associates offer Professional Guidance
Here at Read and Associates our team of migration agents can provide you with the appropriate guidance and advice which will help you put forth the best visa application possible. Specialising in applications for medical professionals, we would welcome the opportunity to discuss how we can work with you. Book a consultation to find out more.