Australia’s Subclass 892 Visa for Business Owners Sponsored by State or Territory

Overview of Subclass 892 Visa

If you are a successful business owner who is looking to migrate to Australia, the Subclass 892 Visa might be the perfect option for you. This visa is designed for individuals who have owned and operated a business in Australia for at least two years and are looking to continue their business in the country.

To be eligible for the Subclass 892 Visa, you must meet the following requirements:

  • You must have held a Subclass 160, 161, 162, 163, 164, 165, 845, or 846 visa for at least one year before applying for the Subclass 892 Visa.
  • You must have owned and operated a business in Australia for at least two years before applying for the visa.
  • Your business must have a turnover of at least AUD 300,000 for each of the two years before applying for the visa.
  • You must have a total net business and personal assets of at least AUD 400,000 in Australia for the two years before applying for the visa.

Once you have met these requirements, you can apply for the Subclass 892 Visa. This visa allows you to continue operating your business in Australia and also allows you to bring your immediate family members with you.

The Subclass 892 Visa is a state or territory sponsored visa, which means that you must be sponsored by a state or territory government in Australia. Each state and territory has its own set of criteria for sponsoring business owners, so it is important to research the requirements of each state or territory before applying for the visa.

Overall, the Subclass 892 Visa is a great option for successful business owners who are looking to continue their business in Australia. With the right qualifications and sponsorship, you can easily migrate to Australia and continue your business in a new and exciting environment.

Eligibility Criteria

To apply for the Australia State or Territory Sponsored Business Owner visa (subclass 892), you must meet certain eligibility criteria. The following subsections outline the requirements you need to fulfill to be eligible for this visa.

Personal Requirements

To be eligible for the subclass 892 visa, you must be an Australian citizen, permanent resident, or a New Zealand passport holder who has been residing in Australia for at least two years. You must also have an ownership interest in an actively operating main business in Australia.

Business Requirements

Your business must have a minimum annual turnover of AUD 300,000 for the past two fiscal years, and you must have a net business and personal assets of at least AUD 400,000. Your business must also not be involved in any unacceptable business activities.

Additional Requirements

You must meet certain health and character requirements and have no outstanding debts to the Australian government.

Qualifying Visas

To be eligible for this visa, you must hold one of the following provisional visas:

  • 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)

Eligible Visa

You must have held one of the above provisional visas for at least one year in the past two years before applying for the subclass 892 visa.

Assets and Employees

You must have an overall net value of at least AUD 800,000 in your business and personal assets and have employed at least two full-time employees in your business for at least one year in the past two years before applying for this visa.

Application Process

To apply for the subclass 892 visa, you must submit a completed application form, pay the application fee, and provide all required documentation. It is recommended that you seek the assistance of a registered migration agent to help you with the application process.

Benefits of Subclass 892 Visa

The subclass 892 visa allows you and your family to live, work and study in Australia. You will also be eligible for Medicare and can travel to and from Australia as many times as you want while the visa is valid.

Costs and Processing Time

The cost of the subclass 892 visa application is AUD 7,855. The processing time for this visa is approximately 18-24 months. Please note that these costs and processing times are subject to change and you should check with the Department of Home Affairs for the most up-to-date information.

Frequently Asked Questions

What are the eligibility requirements for the subclass 892 visa?

To be eligible for the subclass 892 visa, you must have held a subclass 160, 161, 162, 163, 164, 165, 845, 846 or 880 visa for at least one year in the two years immediately before you apply. You must also meet the requirements for the state or territory in which you wish to establish your business. Additionally, you must have a successful business career and a genuine desire to own and manage a business in Australia.

What is the processing time for subclass 892 visa?

The processing time for subclass 892 visa varies based on individual circumstances and the state or territory in which you wish to establish your business. On average, it takes about 12 to 18 months to process the visa application.

What are the benefits of a state or territory sponsored business owner visa?

The subclass 892 visa allows you and your family members to live and work in Australia indefinitely. It also provides a pathway to Australian citizenship. Additionally, as a business owner, you will have the opportunity to contribute to the Australian economy and create employment opportunities for Australians.

How much investment is required for subclass 892 visa?

The minimum investment required for subclass 892 visa is AUD $200,000. However, the amount of investment required may vary depending on the state or territory in which you wish to establish your business.

Can I include my family members in my subclass 892 visa application?

Yes, you can include your partner and dependent children in your subclass 892 visa application. They will have the same rights and privileges as you as a visa holder.

What are the conditions of the subclass 892 visa?

As a subclass 892 visa holder, you must actively manage your business in Australia. You must also meet the obligations of your state or territory sponsorship, such as reporting on the progress of your business. Additionally, you must comply with all Australian laws and regulations.

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