BUSINESS OWNERS VISAS
2nd Rung On The “Ladder Of Migration”
Business Owner (Provisional) (Subclass 160)
This visa is for people business owners who have an overall successful business career, and who intend to own and use their skills in the operation of an Australian business and participate in the business at a senior management level. With this visa, you can establish a new or existing business in Australia if you have met the requirements of the visa.
The visa applicant must be less than 45 years old, have a vocational level of English and have an overall successful business career. The key requirements of this visa are:
• Business assets - You (and your spouse combined) had net assets in a qualifying business of A$200,000 for at least two of the four fiscal years immediately before you apply, and if the business was a publicly listed company, you (and your spouse combined) must have owned at least 10% of the business for at least two of the four fiscal years immediately before you apply.
The annual turnover of your main business (or two main businesses combined) was at least A$500,000 in at least two of the four fiscal years immediately before you apply.
• Total assets - Your (and your spouse's) total assets have a net value of at least A$500,000, and were legally acquired and are capable of being transferred to Australia within two years of being granted this visa. Furthermore, you have sufficient assets (additional to those above) to settle in Australia .
State/Territory Sponsored Business Owner (Provisional) (Subclass 163)
This visa is for persons who have not owned their own business so long as they have a recent history of business employment in a senior management role, alternatively, this visa is for business owners from overseas who intend to own a business in Australia . The key requirements of this visa are:
• you must be less than 55 years old (except where the proposed business will be of exceptional economic benefit to the region
• You must be sponsored by an appropriate regional authority of a State or Territory Government.
• Business Assets - You must have an ownership interest in a main business (or two main business combined) with an annual turnover of at least AUD$300,000 in at least two of the four fiscal years immediately before you apply or you are a senior manager in a qualifying business for at least four years immediately before applying and demonstrate a high level of management skills.
• Total Assets - Your (and your spouse's combined) total assets have a net value of at least AUD$250,000 and were legally acquired and are capable of being transferred to Australia within two years of being granted this visa. Furthermore, you have sufficient assets (additional to those above) to settle in Australia .
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