Australia Business Owner (subclass 890): Requirements and Benefits

Understanding Australia Business Owner (Subclass 890) Visa

If you are a successful business owner and looking to migrate to Australia, the Business Owner (Subclass 890) visa can be an excellent option for you. This visa is designed for individuals who have a successful business career and want to own and manage a new or existing business in Australia.

To be eligible for this visa, you must have held a qualifying visa for at least one year and have lived in Australia for at least two years. You must also meet the Department of Home Affairs’ requirements for health and character.

The Business Owner (Subclass 890) visa provides several benefits, including the ability to live and work in Australia permanently. You can also include your family members in your visa application, and they can work and study in Australia.

To apply for this visa, you must submit an Expression of Interest (EOI) through SkillSelect. The Department of Home Affairs will then invite you to apply for the visa if you meet the requirements.

Once you receive an invitation to apply, you must provide evidence of your business experience and assets, as well as your ability to invest in a new or existing business in Australia. You must also provide evidence of your English language proficiency.

In conclusion, the Business Owner (Subclass 890) visa is an excellent option for successful business owners who want to migrate to Australia. It provides permanent residency status, allows you to include your family members, and provides an opportunity to invest in a new or existing business in Australia. To apply for this visa, you must meet the eligibility requirements and provide evidence of your business experience, assets, and English language proficiency.

Eligibility Criteria

To be eligible for the Australia Business Owner (subclass 890) visa, you must have held a qualifying visa for at least one year and have lived in Australia for at least two years. You must also meet the following criteria:

  • You must be an Australian citizen, permanent resident, or eligible New Zealand citizen.
  • You must have a successful business career and have net assets of at least AUD 400,000.
  • You must have an ownership interest in an Australian business for at least one year before applying for the visa.
  • You must have played an active and ongoing management role in the business.
  • The business must have a turnover of at least AUD 300,000 per year for the last two years.
  • You must not have been involved in any unacceptable business activities.

If you meet the above criteria, you may be eligible to apply for the subclass 890 visa. This visa allows you to stay in Australia indefinitely and work and study in Australia. You can also sponsor eligible family members to come to Australia.

It is important to note that meeting the eligibility criteria does not guarantee that your visa application will be approved. The Department of Home Affairs will assess your application on a case-by-case basis and may request additional information or documentation to support your application.

Application Process

To apply for the Australia Business Owner (subclass 890) visa, you must first meet the eligibility criteria. This visa is for individuals who have owned and operated a business in Australia for at least two years and have a significant ownership stake in that business. You must also have a successful business career and a commitment to continuing business activity in Australia.

Once you meet the eligibility criteria, you can begin the application process. The first step is to gather all the necessary documentation. This includes proof of your business ownership, financial documents, and evidence of your commitment to continuing business activity in Australia. You may also need to provide evidence of your English language proficiency.

Next, you will need to submit your visa application online through the Department of Home Affairs website. You will need to pay the visa application fee and provide all the necessary documentation at the time of application. The visa processing time can vary depending on the individual circumstances of your application.

It is recommended that you use the services of a registered migration agent or immigration lawyer to assist you with your visa application. These professionals can help you understand the requirements of the visa, guide you through the application process, and ensure that your application is complete and accurate.

In summary, the application process for the Australia Business Owner (subclass 890) visa requires you to meet the eligibility criteria, gather all necessary documentation, and submit your application online. Using the services of a registered migration agent or immigration lawyer can help ensure a smooth and successful application process.

Cost and Financial Requirements

As an Australia Business Owner (subclass 890) applicant, it is important to understand the cost and financial requirements associated with the visa application process.

To be eligible for this visa, you must have a net business and personal assets of at least AUD 800,000. Additionally, you must have a total annual turnover of at least AUD 500,000 in your main business for at least two of the four fiscal years immediately before the application is lodged.

You must also provide evidence that you have paid all outstanding debts to the Australian government, and have complied with all relevant Australian laws and regulations.

It is important to note that the visa application process can be costly. In addition to the visa application fee, you may need to pay for additional costs such as health assessments, police certificates, and translation services.

If you are being sponsored by an Australian state or territory government, you may also need to pay a sponsorship fee. The cost of this fee varies depending on the state or territory, and the type of sponsorship being offered.

When applying for this visa, you will need to provide evidence of your net business assets, personal assets, and outstanding debts. This evidence may include bank statements, tax returns, and other financial documents.

Overall, the Australia Business Owner (subclass 890) visa is a great opportunity for business owners looking to establish or expand their business in Australia. However, it is important to carefully consider the financial requirements and costs associated with the visa application process before proceeding with your application.

Business and Employment Obligations

As a holder of the Business Owner (subclass 890) visa, you are expected to comply with certain business and employment obligations. These obligations are in place to ensure that your actively operating main business in Australia contributes to the country’s economy and provides employment opportunities to Australians.

Business Obligations

You are required to maintain an actively operating main business in Australia. This means that your business should be engaged in lawful business practices and actively operating in Australia. You must also ensure that the business activity statements (BAS) are lodged with the Australian Taxation Office (ATO) in a timely manner.

Employment Obligations

As an employer, you must ensure that you meet the employee requirements set by the Australian government. This includes providing fair and safe working conditions, paying the correct wages and entitlements, and complying with workplace laws and regulations.

If you employ full-time employees, you must also ensure that they are Australian citizens, permanent residents, or hold a valid visa that allows them to work in Australia. You must also maintain records of your employees’ details and provide them with payslips.

Consequences of Non-Compliance

Failure to comply with your business and employment obligations can result in serious consequences. This can include cancellation of your visa, financial penalties, and legal action.

It is important to ensure that you understand and comply with your obligations as a holder of the Business Owner (subclass 890) visa. This will not only ensure that you meet your legal obligations but also contribute to the growth and success of your business in Australia.

Rights and Benefits of the Visa

As a holder of the Australia Business Owner (subclass 890) visa, you are entitled to several rights and benefits. Here are some of the benefits that you can enjoy:

Stay in Australia

The subclass 890 visa allows you to stay in Australia indefinitely. You can live, work, and study in Australia without any restrictions. However, you must comply with the visa conditions and follow the Australian laws.

Medicare

As a permanent resident, you are eligible to enroll in Australia’s public health care scheme called Medicare. This scheme provides access to medical services and hospital treatment at no or low cost.

Study in Australia

The subclass 890 visa allows you to study in Australia. You can enroll in any course or program of your choice, including vocational education and training, higher education, and English language courses.

Travel to and from Australia

As a permanent resident, you can travel to and from Australia as many times as you want. However, you must ensure that you have a valid travel document and comply with the immigration laws of other countries.

Work and study in Australia

You can work and study in Australia without any restrictions. You can also sponsor your eligible relatives to come to Australia on a permanent or temporary basis.

Enrol in Australia’s public health care scheme

As a permanent resident, you are eligible to enroll in Australia’s public health care scheme called Medicare. This scheme provides access to medical services and hospital treatment at no or low cost.

Residence requirement

To maintain your permanent residency, you must meet the residence requirement. You must live in Australia for at least two years in the last five years before applying for citizenship.

Actively operating main businesses in Australia

As a holder of the subclass 890 visa, you must actively operate your main businesses in Australia. You must also comply with the Australian laws and regulations related to your business.

In conclusion, the Australia Business Owner (subclass 890) visa provides several benefits and rights that can help you live, work, and study in Australia without any restrictions.

Health and Character Requirements

When applying for an Australia Business Owner (subclass 890) visa, you must meet certain health and character requirements. These requirements are in place to ensure that Australian citizens are protected and that the visa holder can contribute to the Australian economy.

Health Requirements

To meet the health requirements for the Business Owner visa, you must undergo a medical examination. The medical examination will determine whether you have any health conditions that could pose a risk to public health in Australia. You must also have health insurance during your stay in Australia.

Character Requirements

To meet the character requirements for the Business Owner visa, you must provide a police certificate from each country you have lived in for more than 12 months in the past 10 years. This certificate must show that you have no criminal record or pending charges.

In addition, you must also complete a Character Statutory Declaration. This declaration requires you to disclose any criminal convictions or charges, regardless of how long ago they occurred. Failure to disclose this information may result in your visa being refused.

Health and Character Requirements

Meeting the health and character requirements is essential for obtaining an Australia Business Owner visa. These requirements help to ensure that Australian citizens are protected and that the visa holder can contribute to the Australian economy. By meeting these requirements, you can increase your chances of being granted a visa and starting your business in Australia.

Understanding the Connection to Land and Culture

As an Australia Business Owner (subclass 890), it is important to understand the significance of land and culture in Australia. Australia has a rich history and diverse culture that is deeply connected to the land. The traditional custodians of the land are the Aboriginal and Torres Strait Islander peoples, who have been living on the land for over 60,000 years.

The connection to land is an integral part of Aboriginal and Torres Strait Islander cultures. It is believed that the land has a spiritual significance and is a source of life. As an Australia Business Owner, it is important to respect this connection to land and acknowledge the traditional custodians of the land on which you operate your business.

One way to show respect for the connection to land and culture is to engage with Aboriginal and Torres Strait Islander communities and elders. Elders hold a significant role in Aboriginal and Torres Strait Islander cultures and are respected for their wisdom and knowledge. By engaging with elders, you can gain a better understanding of the cultural obligations and responsibilities associated with the land.

It is also important to understand that as an Australia Business Owner, you have an obligation to protect the land and its resources. This includes respecting the cultural heritage of the land and ensuring that any business activities do not harm the environment or cultural sites.

In summary, understanding the connection to land and culture is an important aspect of being an Australia Business Owner. By respecting the traditional custodians of the land, engaging with elders, and protecting the environment and cultural heritage, you can build positive relationships with Aboriginal and Torres Strait Islander communities and contribute to the sustainability of the land.

Common Issues and Challenges

As a business owner under the Australia Business Owner (subclass 890) visa, you may face some common issues and challenges during your stay in Australia. Here are some of the most significant challenges that you might encounter:

Visa Cancellation

If you breach any of the conditions of your visa, the Department of Home Affairs may cancel your visa. Therefore, it is crucial to comply with all the visa conditions and ensure that you keep up-to-date with any changes in the visa requirements.

Previous Application Refused

If your previous visa application was refused, it may affect your chances of getting a Business Owner visa. It is essential to address the reasons for the refusal and ensure that you meet all the requirements before applying again.

Experience

To apply for a Business Owner visa, you need to have a successful business career. However, if you do not have the required experience, it may be challenging to get the visa. You may need to consider gaining more experience or seek advice from a migration agent to help you with your application.

Other common challenges include complying with tax obligations, managing finances, and dealing with cultural differences. Therefore, it is essential to research and understand the Australian business environment before starting your business.

Processing Time and Other Relevant Information

As a business owner who is considering applying for the Australia Business Owner (subclass 890) visa, you may be wondering about the processing time and other important information.

The processing time for this visa can vary depending on a number of factors, including the complexity of your case and the number of applications currently being processed by the Department of Home Affairs. However, in general, the processing time for the subclass 890 visa is around 19 months. This means that you should plan ahead and apply well in advance of your intended travel date.

It is important to note that the processing time for your visa application may be longer if you do not provide all of the required information or if additional information is requested from you. Therefore, it is essential that you ensure that your application is complete and accurate before submitting it.

In addition to processing time, there are other relevant pieces of information that you should be aware of when applying for the subclass 890 visa. For example, you must be nominated by a state or territory government agency and have a successful business career in Australia to be eligible for this visa. You must also meet certain health and character requirements, and be able to demonstrate a commitment to maintaining your business interests in Australia.

Overall, the subclass 890 visa can be a valuable option for business owners who wish to establish or maintain business interests in Australia. By understanding the processing time and other relevant information, you can ensure that your visa application is successful and that you are able to achieve your business goals in Australia.

Frequently Asked Questions

What are the requirements for obtaining a Business Owner (subclass 890) visa in Australia?

To obtain a Business Owner (subclass 890) visa in Australia, you must have held a qualifying visa for at least 1 year and have had an ownership interest in an Australian business for at least 2 years. Additionally, you must meet certain financial and business turnover requirements and be able to demonstrate that you have a genuine and ongoing commitment to maintaining a business in Australia.

What are the benefits of a Business Owner (subclass 890) visa in Australia?

A Business Owner (subclass 890) visa in Australia allows you to live and work in Australia indefinitely, as well as travel to and from Australia as often as you like. You can also include eligible family members in your visa application.

What is the process for starting a business in Australia as a foreigner?

Foreigners can start a business in Australia by first choosing a business structure and registering the business with the Australian Securities and Investments Commission (ASIC). You will also need to obtain an Australian Business Number (ABN) and register for Goods and Services Tax (GST) if your business meets certain requirements. Additionally, you may need to obtain certain licenses and permits depending on the nature of your business.

What are the requirements for obtaining an Investor visa in Australia?

To obtain an Investor visa in Australia, you must have a minimum net worth of AUD 2.25 million and be willing to make a designated investment of at least AUD 1.5 million in an Australian state or territory. You must also be able to demonstrate a genuine and realistic commitment to continuing your business and investment activity in Australia after the designated investment has matured.

What are the minimum investment requirements for obtaining a Permanent Residency in Australia?

The minimum investment requirements for obtaining a Permanent Residency in Australia depend on the type of visa you are applying for. For example, the minimum investment requirement for the Significant Investor visa (subclass 188) is AUD 5 million, while the minimum investment requirement for the Premium Investor visa (subclass 188) is AUD 15 million.

Who is eligible to apply for a Business visa in Australia?

To be eligible to apply for a Business visa in Australia, you must be nominated by a state or territory government or be invited by the Australian government to apply. You must also meet certain requirements related to age, English language proficiency, and business experience. Finally, you must be able to demonstrate that you have a successful business career and a genuine intention to establish a business in Australia.

Scroll to Top