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State/Territory Sponsored Business Owner visa (subclass 892)

About this visa

The State/Territory Sponsored Business Owner visa (subclass 892) is for people who own a new or existing business and are sponsored by a state or territory authority.

You can apply if you already hold a qualifying provisional business visa.

What this visa lets you do

This visa allows you to manage your business and investment activities in Australia.

This is a permanent residence visa. It lets you and any member of your family unit who has also been granted this visa:

  • Stay in Australia indefinitely
  • Work and study in Australia
  • Enrol in Medicare, Australia’s scheme for health-related care and expenses
  • Apply for Australian citizenship (if you are eligible)
  • Sponsor eligible relatives for permanent residence
  • Travel to and from Australia for five years from the date the visa is granted (after that time, you will need a resident return visa or another visa to return to Australia).

Eligibility

Who could get this visa

You might be able to get this visa if:

  • You hold one of the provisional visas granted on the basis that you or your current or former spouse or de facto partner satisfied the primary criteria
  • You met all the conditions of your provisional visa
  • You are sponsored by a state or territory authority
  • You have lived in Australia on one of these visas for at least 12 months in the past two years
  • You have a genuine commitment to continue to maintain business or investment activities in Australia
  • Neither you nor your spouse or de facto partner has ever been involved in unacceptable business activities
  • You and all your family members meet health and character requirements.

Business requirements

You must show you can meet the following requirements in order to be granted a State/ Territory Sponsored Business Owner visa (subclass 892):

  • Ownership of a main business or main businesses
  • Acquisition of a main business or main businesses
  • Employees and business/ personal assets
  • Turnover
  • Management in the main business or main businesses.

Ownership of a main business or main businesses

You must have had, and continue to have until a decision has been made on your visa application, an ownership interest in up to 2 actively operating main businesses in Australia for at least 2 years immediately before an application is made.

You and your spouse or de facto partner must own at least:

  • 51% of the business where the turnover is less than AUD 400 000
  • 30% of the business where the turnover is AUD 400 000 or more, or
  • 10% where the business is a publicly listed company.

Further information on how to demonstrate legal ownership of the business(es) is available under the tab Follow these steps

Acquisition of a main business or main businesses

You must be able to demonstrate that you legally acquired or established the business or businesses nominated in your application.

Further information on how to demonstrate legal ownership of the business(es) is available under Steps to apply

Employees and business/ personal assets

Unless the appropriate regional authority has determined that there are exceptional circumstances, you must meet at least two of the following three requirements.

Turnover

You must provide Business Activity Statements (BAS) lodged with the Australian Taxation Office (ATO) for the 2 years immediately before the application is made, and also demonstrate that the main business, or main businesses in Australian together, had an annual turnover of at least AUD200 000 in the 12 months immediately before the application is made.

Management in the main business or main businesses

You must supply evidence that you have participated in the day to day management of your nominated main business(es), and evidence of your involvement in making decisions affecting the overall direction and performance of the business, throughout the 24 months immediately prior to the date of application.

If you spent more than 6 weeks in total abroad during the 24 month period, you must account for any management activities that you undertook in relation to the business during this period and provide evidence of how you managed the business while you were absent.

Applicants may also needed to meet below requirements

Character requirements, Health requirements, Health insurance requirements, Must not have Debts to the Australian Government, biometric and other requirements if needed.

Your obligations

You and your family must comply with all visa conditions and Australian laws.

Source – Australian Immigration Website.

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