What can you do on the Business owner visa (subclass 890)?
On the Business owner visa (subclass 890), 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
How long you can stay on this visa?
The subclass 890 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 from the Department of Home Affairs (DoHA).
Can you include family on this visa?
You can include family members in your application. You can:
- include them when you lodge your visa application
- add them after you lodge your application but before the Department of Home Affairs decides on your visa
A family member 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. Any family members added to a visa must meet the strict character and health requirements from the Department of Home Affairs.
Where can I apply for this visa?
You must be in Australia when you lodge your application. Your family can be in or outside Australia but not in immigration clearance when the visa application is lodged.
Your obligations of this visa
You and your family members must obey all Australian laws.
Where can you travel?
You can travel to and from Australia as many times as you want for 5 years from the date the Department of Home Affairs grant this visa.
There are no longer physical visa labels. Once your visa application has been approved, the Department of Home Affairs will add your label digitally to your passport.
What are the eligibility criteria for this visa?
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).
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 $400,000 AUD per year, or
- 30% of a business with a turnover of $400,000 AUD 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 businesses (you can rely on a maximum of two ABNs)
- provide evidence of portal process Business Activity Statements issued by the Australian Taxation Office (ATO).
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 $100,000 AUD 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 $300,000 AUD
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.
Health and character requirements
You and any family members who apply on your visa application will have to meet the Department of Home Affairs health and character requirements.
Debt to the Australian government
If you, or any members of your family owe the Australian Government money, you or they must have paid it back or arranged to pay it back prior to lodging the visa application.
Have you had a visa cancelled or refused previously?
You might not be eligible for this visa if you have had a visa cancelled or refused while you were in Australia. Talk with our team today to discuss any other options that may be available to you should you have had a visa cancelled or refused.
Become an Australian citizen
After a certain time, you might be eligible for Australian citizenship. For citizenship purposes, your permanent residency starts on the day: the Department of Home Affairs grant the visa, if you are in Australia you enter Australia on this visa, if you are outside Australia
Do you want to apply for the Business owner visa (subclass 890)?
If you believe you are ready to apply for the Business owner visa (subclass 890), contact our team today to begin your visa application.