State or Territory Sponsored Business Owner visa 892
892 Visa Australia
State or Territory Sponsored Business Owner visa australia
This visa is for people who own and manage a business in Australia. It allows you to stay in Australia indefinitely. To apply as a primary applicant, you must have a qualifying visa granted on a particular basis.
Stay: Permanently
Processing times: Unavailable due to low volume of applications
- you must hold an eligible visa
- you must 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
- you must have owned and operated a business in Australia for at least 2 years immediately before the application is made
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
You must
- 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 indefinitely
- 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. This 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 residence starts on the day:
- we grant the visa, if you are in Australia
- you enter Australia on this visa, if you are outside Australia
Include family
You can include members of the family unit in your application when you apply.
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.
Members of the family unit who apply for the visa must meet our health and character. Family members not accompanying you to Australia may also need to meet our health and character requirements.
Apply from
You must be in Australia when you submit your application. Members of your family unit can be in or outside Australia but not in immigration clearance.
You must hold an eligible visa to make a valid application for this visa.
Processing times
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
Your obligations
You, and members of your family unit, must follow all Australian laws.
We expect you to continue your business activity in Australia, or make a realistic commitment to doing so.
Travel
You can travel in and out of Australia as many times as you want for 5 years from the date we grant the visa. After 5 years, you will need a Resident Return (RRV) visa (subclass 155 and 157) to re-enter Australia as a permanent resident.
To see when your travel facility ends, use VEVO.
Visa label
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
Business Attributes
At the time you apply and throughout the 12 months immediately before you apply, you must show that you and/or your partner met at least 2 of the following requirements
- Provided an employee, or employees with a total number of hours of employment at least equivalent to the total number of hours that would have been worked by 1 full-time employee. Employees must be Australian citizens, permanent residents or New Zealand passport holders and you cannot include yourself or members of the family unit. s
- how that the net value of your and/or your partner’s net business and personal assets in Australia was at least AUD250,000.
- net business assets in the main businesses of at least AUD 75,000 and those assets were lawfully acquired
Business Turnover
- 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 AUD200,000
Business Practices
You must not have engaged in business activities that are generally unacceptable in Australia.
Have a sponsor
You must be sponsored by the regional authority in the state or territory where you conduct your business.
Be this age
There is no age limit for this visa
Meet our health requirement
You must meet our health requirement and any family members who apply 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 family aged 16 years and over who apply for the visa with you, must meet our character requirement.
Family members 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 family members (including those who don’t 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.
