Business Owner Visa is for those business owners who are having their business setups running in Australia and now they are willing to take up the residency of the country to permanently migrate and look after their business operations.
With this visa, you can live, work and operate in Australia for an indefinite time period.
The validity for this visa is 5 years, after which you can get revival of your Permanent Resident status. During the tenure of 5 years, you can avail social security payments & benefits by the Australian government, like any other Permanent Resident can do.
In order to be eligible for this, you need to meet the following eligibility criteria:
- You must have lived in the country for total of 12 months in the past
- You must hold a commitment to work for betterment of the country and development of the economy
- You must own net assets worth AUS $1,00,000
- You must be having consolidated figure of AUS $2,50,000 combining Personal and Business Property
- You have employed at the least one full-time Australian citizen, everlasting resident or New Zealand passport holder as a worker through the one year and such a worker must not be a family member
- You must be of a morally good character and comply with the health requirements
Apart from these, you should also be having:
- 51 per cent of a business with an annual turnover of less than AUD 400,000
- 30 per cent of a business with an annual turnover of AUD 400,000
- 10 per cent of a business that is a publicly listed company
- 10 per cent of your main business in Australia if purchased before 19 April 2010
If you are fitting into the requirements of this visa, then you can start your PR process.
These are the general guidelines and procedure for Australia Visa Subclass 890. To get a detailed view in this regard, we suggest you to contact our panel of experts and avail a FREE first consultation over phone.
You can also fill our FREE Assessment Form.