State/Territory Sponsored Business Owner Visa (Subclass 892): With this you can establish your business in other countries
State/Territory Sponsored Business Owner Visa (Subclass 892) is permanent visa for those individuals who have started a new business or already had an existing business which is been sponsored by the territory authority or state government.
Requirements of the visa
- You need to have a Business Owner (Provisional) visa (Subclass 160)
- Senior Executive (Provisional) visa (Subclass 161)
- State/Territory Sponsored Business Owner (provisional) visa (Subclass 163)
- Investor (Provisional) visa (Subclass162)
- State/Territory Sponsored Investor (provisional) visa (subclass 165)
- State/Territory Sponsored Senior Executive (provisional) visa (subclass 164)
- You need to have a genuine commitment in order to maintain an investment in Australian business.
- Must need to meet all the conditions for provisional business visa
- You and your partner need to have a good health and moral conduct
- Your partner and you have not been involved in any illegal activities in business ever.
- Also you must not have any debt on Australian government, in case if you have any then pay it off before applying for the visa.
- You must have held money of approx AUD 750000 continuously for around four years under your partner’s name or your name which is saved for getting State/Territory Sponsored Investor (provisional) visa (subclass 165)
- In starting you have at least two business which is operating in Australia and embedded Business Activity Statements (BAS) IN THE AUSTRALIAN Taxation Office for the last two years for all those business which are mentioned in your application form.
You need to have:
- The 10% of your main business is in Australia if its purchased before 19th of April 2010
- 10% of your company is listed publicly
- 30% of your business need to have an annual turnover for around more than AUD400000
- 51% of your business need to have annual turnover for less than AUD400000
You need to have at least two things from the list:-
- You need to have an assets whose worth is near about AUD75000 continuously for 12 months as soon as you apply for the visa
- The net worth of your business and personal assets is more than AUD250000 for around one year at the time you applied for the visa
- At least have employed one Australian citizen for full time or a passport holder from New Zealand as an a employee in your company for around twelve months or more than that before applying for the visa and he/she must not be the member of your family.
It provides you the right to live in Australia for indefinitely. Applicant can even work during the time they are staying in Australia. State/Territory Sponsored Business Owner Visa (Subclass 892) allows you to apply for the citizenship after when you meet all the requirements. This visa is valid for five years from the date the visa is being granted. You can even sponsor relatives in your family to live in Australia for permanent.