Australia’s Business Owner Visa: Eligibility, Necessary Documents, Processes, and Costs - A Full Overview

Australia is a favored destination for students pursuing higher education, and now, its lifestyle is attracting business owners seeking visas to explore opportunities. This all-encompassing guide delves into the Business Owner Visa (Subclass 890) of Australia.

Understanding the Business Owner Visa

Tailored for individuals managing a business in Australia, this visa allows indefinite stay in the country. Eligibility requires holding a qualifying visa granted based on specific criteria.

Eligibility Criteria

Applicants must possess an eligible visa and have resided in Australia for at least 12 months in the two years before applying, while holding the current visa. The eligible visa encompasses various subclasses related to business ownership.

Ownership and operation of a business in Australia for at least two years before applying are prerequisites. A demonstrated ownership interest, management roles, and evidence of a continuous day-to-day management role in the business are essential.

Acquiring an Australian Business Number (ABN) for each main business is obligatory. Specific criteria, including turnover and employment benchmarks, must be met by the business.

Application Process

Prior to submitting an application, individuals should inform the business development agency in the state or territory where they plan to pursue their investment. Essential documents include identity papers, photos, business records, and proof of ownership. Submission requirements encompass financial statements, employee particulars, and additional necessary documents.

The application fee must be paid before submission. The entire application, along with required documents, must be sent to the Adelaide Business Skills Processing Centre in Australia.

Benefits of Business Owner Visa

The Business Owner Visa provides permanent residency, allowing work, study, enrollment in the public health care scheme, sponsorship of relatives to Australia, travel to and from the country for five years, and eligibility for Australian citizenship.

Duration and Cost

This visa allows indefinite stay, with a travel component expiring five years after the visa grant date. The cost is approximately AUD 2,810. An additional charge, the second installment, may apply for family members over 18 with less than functional English and without an eligible visa.

The Business Owner Visa (Subclass 890) is a pathway for entrepreneurs establishing and managing businesses in Australia, offering comprehensive opportunities with various benefits and eligibility criteria for those aiming to leave their mark in the Australian business landscape.