1. What is the purpose of the Australia Business Visa – Sponsored Business Owner Visa (subclass 892)?
The purpose of the Australia Business Visa – Sponsored Business Owner Visa (subclass 892) is to allow successful business owners or high-level executives who have obtained sponsorship from an Australian state or territory government agency to establish a new or existing business in Australia.2. Who is eligible for this visa?
To be eligible for the Australia Business Visa – Sponsored Business Owner Visa (subclass 892), applicants must:
– Be nominated by an Australian state or territory government agency
– Be under 55 years of age, although exceptions may apply for exceptional economic benefit
– Score at least 65 points on the points test
– Demonstrate an overall successful business career and a genuine commitment to investing in and developing a business in Australia
– Have owned at least one of two businesses with turnover of AUD $500,000 per annum for two out of the four fiscal years preceding the invitation to apply
– Have assets worth at least AUD $800,000 that are legally acquired and available for legal transfer to Australia within two years of the visa being granted
– Meet health and character requirements
3. What are the benefits of this visa?
The Australia Business Visa – Sponsored Business Owner Visa (subclass 892) allows successful business owners and high-level executives to live and work in Australia while establishing or managing their businesses. It also provides access to certain social security benefits, healthcare services, education opportunities, and eventually eligibility for permanent residency.
4. What is a state or territory government agency nomination?
A state or territory government agency nomination is an official endorsement from a specific Australian state or territory government agency that confirms the applicant meets the requirements for their particular nominated business activity. This endorsement is required before an applicant can apply for the subclass 892 visa.
5. How long does it take to process this visa?
Processing times vary depending on individual circumstances such as completeness of application, additional information needed from applicants, and how quickly applicants respond to requests from authorities. On average, the processing time for this visa can range from 13 to 33 months.
6. Can I bring my family with me on this visa?
Yes, you can include your family members (spouse and dependent children) in your visa application.
7. Is there a points test for this visa?
Yes, applicants must score at least 65 points on the points test to be eligible for the Australia Business Visa – Sponsored Business Owner Visa (subclass 892). Points are awarded based on factors such as age, English language proficiency, work experience, education qualifications, and business turnover.
8. Can I extend my stay on this visa?
No, this visa does not allow for extensions of stay. However, after establishing and managing a business in Australia for at least two years, visa holders can apply for permanent residency through the subclass 888 Business Innovation and Investment (Permanent) visa.
9. Is it mandatory to own a business in Australia before applying for this visa?
Applicants must have owned at least one of two businesses with a turnover of AUD $500,000 per annum for two out of the four fiscal years preceding their invitation to apply for the subclass 892 visa. Additionally, they must demonstrate a genuine commitment to investing in and developing a business in Australia.
10. Are there any restrictions on the type of business that can be established or managed through this visa?
There are no specific restrictions on the type of business that can be established or managed through this visa. However, applicants must demonstrate an overall successful business career and genuine commitment to investing in and developing a business in Australia. The nominated state or territory government agency may also have requirements and preferences regarding certain industries or businesses they wish to attract to their region.
2. Who is eligible to apply for the Sponsored Business Owner Visa (subclass 892)?
The Sponsored Business Owner Visa (subclass 892) is available to individuals who are already in Australia and hold either a Business Skills (Provisional) visa (subclass 160, 161, 162, 163 or 164), a State/Territory sponsored individual business visa (subclass 495,496,475 or 487), or a class UO (formerly known as subclass BG) bridging visa A/B/C. The individual must have held the eligible provisional visa for at least two out of the four years immediately before applying for the subclass 892 visa.
Additionally, at the time of application, the individual must meet certain financial and business requirements set by the Australian government. They must also be sponsored by an Australian state or territory government agency.
3. What are the basic requirements for this visa?
The basic requirements for this visa may vary depending on the country you are applying from, but common requirements include:
1. A valid passport with a minimum of 6 months validity remaining
2. Completed visa application form
3. Passport-sized photographs (usually around 2-3)
4. Proof of financial support or funds to cover your travel expenses
5. Return flight tickets or proof of onward travel
6. Travel itinerary or accommodation bookings
7. Medical insurance valid for the duration of your stay
8. Basic personal details and information, such as your full name, date of birth, and contact information
9. Reason for travel, such as tourism, business, or study purposes
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Completed background check forms and/or police clearance certificates (depending on the country’s requirements)
4. How can I prove my business experience and skills?
1. Work history: Your work history is perhaps the most tangible proof of your business experience and skills. This can include your job titles, responsibilities, achievements, and length of employment at various companies.
2. Educational qualifications: A degree or certification in a relevant field can demonstrate your knowledge and understanding of key business concepts and principles.
3. Awards and recognitions: Have you received awards or recognition for your contributions to previous employers? These can serve as concrete evidence of your skills and experience.
4. References: Personal or professional references from previous employers, colleagues, clients, or mentors can vouch for your business experience and skills.
5. Business plans: If you have successfully launched or managed a business in the past, you can showcase your expertise by sharing your business plan and how it contributed to the success of the company.
6. Case studies or project portfolios: Creating case studies or compiling a portfolio of past projects can showcase your business acumen, problem-solving skills, and results-driven approach.
7. Testimonials: Ask previous clients or employees to provide testimonials about their experience working with you. This can be displayed on your website or included in marketing materials.
8. Publications or presentations: Have you written articles on business-related topics or presented at conferences? These are excellent ways to demonstrate thought leadership and expertise in a particular area of business.
9. Networking presence: Online networking platforms such as LinkedIn allow you to build an online presence that showcases your professional background, skills, endorsements, recommendations, and achievements.
10. Personal achievements: Beyond professional accomplishments, personal achievements such as volunteer work or hobbies can also demonstrate important soft skills like leadership, teamwork, time management, and communication abilities that are crucial for success in the business world.
5. Do I need to have a certain level of English language proficiency?
Yes, most universities will require a certain level of English language proficiency for international students. This can vary between institutions and programs, but generally a minimum score on an English language test such as the TOEFL or IELTS is required. Some universities may also offer intensive English language courses for students who do not meet the minimum requirements.
6. Can I include my family members in my visa application?
Yes, you may include your family members in your visa application as dependents if they meet the eligibility requirements. This typically includes spouses or legal partners, children under 18 years old, and other dependent family members such as parents or siblings. You may be required to provide evidence of your relationship with each family member and their financial dependence on you. It is important to consult the specific guidelines for your chosen visa category to determine who can be included as a dependent.
7. How much do I need to invest in an Australian business to be eligible for this visa?
To be eligible for the Australian Business Innovation and Investment visa (subclass 188), you will need to invest at least AUD$ 1.5 million in a new or existing business. There are different investment requirements for different streams within this visa, so it is important to check the specific requirements for the stream you are applying for. Additionally, there may be additional costs associated with the application process, such as fees for professional services and government charges.
8. Is there a minimum annual turnover requirement for the business?
It depends on the country and specific business regulations. Some countries may have a minimum annual turnover requirement for certain types of businesses, while others may not have any minimum requirement. It is important to research the specific requirements for your business location.
9. What are the different streams under subclass 892 and their requirements?
Subclass 892 falls under the Business Innovation and Investment visa category. It is for individuals who have a successful business or investment history and are looking to establish or manage a new or existing business in Australia. The subclass 892 visa has four different streams, each with specific requirements:
1. Business Innovation Stream:
– The applicant must be under 55 years of age, although certain exceptions apply
– Must have owned and operated a business whose annual turnover was at least AUD $300,000 for two out of the four fiscal years before receiving the invitation to apply
– Must hold at least 30% ownership in the business
– A net worth of at least AUD $800,000 must be demonstrated
2. Investor Stream:
– The applicant must be under 55 years of age, although certain exceptions apply
– Must have managed investments valued at AUD $1.5 million for at least one year before submitting the application
– An eligible investment of AUD $1.5 million in designated bonds or vehicles is required
3. Significant Investor Stream:
– This stream is for individuals who wish to make a significant contribution to the Australian economy through investments
– Requires an initial investment of AUD $5 million into specific designated investments for no less than four years
4. Premium Investor Stream:
– This is for high-caliber investors who are nominated by an Australian state or territory government
– Requires an investment of at least AUD $15 million into Australian assets
Note: All these streams require evidence of good English language proficiency unless exempt.
Overall, applicants must also meet character and health requirements and show intentions to live in Australia permanently. Additional requirements may vary depending on the stream chosen and any specific state or territory government nomination factors.
10. Can I apply for permanent residency through this visa?
No, this visa does not lead to permanent residency. It is a temporary visa that allows individuals to live and work in Canada for a specified period of time. To apply for permanent residency, you will need to meet the eligibility requirements of a permanent resident program such as Express Entry or the Provincial Nominee Program.
11. How long does it take to process the subclass 892 visa?
The processing time for a subclass 892 visa varies depending on individual circumstances and the overall demand. On average, it can take between 6-12 months to process, but some applications may be processed faster or slower than others. It is important to accurately and thoroughly complete all application requirements to avoid any delays in processing time.
12. Can I appeal a decision if my visa application is refused?
Yes, you can appeal a decision if your visa application is refused. The process for appeals varies depending on the country and type of visa you applied for, but generally involves submitting an appeal letter or form outlining the reasons why you believe the decision was incorrect. This will typically be reviewed by a different immigration officer or judge, and a decision will be made on whether to overturn the refusal. It is important to note that not all countries allow for appeals, and in some cases your only option may be to reapply for the visa.
13. Is there a limit on the number of visas issued under this category each year?
Yes, there is an annual limit on the number of visas issued under the H-1B visa category. For fiscal year 2020, the regular cap for H-1B visas is set at 65,000 and an additional 20,000 visas are available under the advanced degree exemption for individuals who have obtained a U.S. master’s degree or higher. However, certain categories of employers, such as non-profit organizations or institutions of higher education, are exempt from this cap. It is important to note that there may also be changes to these limits in each fiscal year based on government policies and regulations.
14. What documents do I need to submit with my application?
The documents you need to submit with your application may vary depending on the specific program or institution you are applying to. However, some common documents that are typically required for most applications include:
– Completed application form: This is the main form that collects your personal and academic information.
– Transcripts/academic records: These are official documents from your previous educational institutions that list your course grades and overall academic performance.
– Standardized test scores: If required by the program or institution, you may need to submit scores from standardized tests such as the SAT, ACT, GRE, or GMAT.
– Letters of recommendation: These are letters written by teachers, professors, or employers who can speak to your character, abilities, and potential success in higher education.
– Personal statement/essay: Many applications also require a personal statement or essay where you can share more about yourself and why you are interested in attending their program/institution.
– Proof of English proficiency: If English is not your first language, you may need to provide proof of proficiency through standardized language tests such as TOEFL or IELTS.
– Resume/CV: Some programs may ask for a resume or CV detailing your work experience, extracurricular activities, and other achievements.
It’s important to carefully review the application requirements for each school/program you are applying to and make sure to submit all necessary documents within the specified deadlines.
15. Do I need to have health insurance while living in Australia on this business visa?
Yes, all temporary residents in Australia are required to have adequate health insurance that meets the minimum requirements set out by the Department of Home Affairs. This means you must have Overseas Visitors Health Cover (OVHC) for the entire duration of your stay in Australia. OVHC is designed to cover some or all of your medical and hospital expenses while you are in the country. It is important to note that Medicare, Australia’s public health insurance system, does not cover temporary residents on this visa type.16. Can I bring my family members with me on this business visa?
Yes, your dependent family members (spouse, partner and children) can be included in your visa application. They will be granted a Dependent Business Road visa (Subclass 457) which allows them to live in Australia with you for the duration of your visa.
17. What are the conditions I must comply with while on this business visa?
As a holder of a Temporary Skill Shortage visa (Subclass 482), you must comply with several conditions during your stay in Australia. These include:
– Work only for your sponsoring employer or associated entities
– Only work in nominated position and occupation
– Notify the Department of Home Affairs if there are any changes to your employment, including salary and work location
– Maintain appropriate health insurance for yourself and any dependent family members
– Keep copies of all relevant documents related to your employment
It is important to fully understand and comply with these conditions as failure to do so may result in cancellation of your visa.
18. Can I apply for permanent residency through this business visa?
Yes, one of the main benefits of the Temporary Skill Shortage visa (Subclass 482) is that it can lead to permanent residency through the Employer Nomination Scheme (ENS) or Regional Sponsored Migration Scheme (RSMS). To be eligible for permanent residency through these pathways, you must meet certain criteria such as completing a minimum period of work for your sponsoring employer, meeting English language requirements, and passing health and character checks.
19. Can I apply for other visas while on this business visa?
Yes, you may be able to apply for other visas while on the Temporary Skill Shortage visa (Subclass 482). However, it is important to note that some visas may have conditions attached that restrict your eligibility. For example, if you wish to study in Australia while on this visa, you will need to comply with certain conditions and restrictions.
20. Can I extend my stay on this business visa?
Yes, it is possible to extend your stay on the Temporary Skill Shortage visa (Subclass 482) if your sponsor still requires your services. You can apply for a new visa or lodge a new sponsorship nomination before your current visa expires.
21. Is there an age limit for this business visa?
No, there is no age limit for the Temporary Skill Shortage visa (Subclass 482). However, applicants over the age of 45 may face additional criteria when applying for permanent residency through this visa.
22. Are there any restrictions on the type of work I can do on this business visa?
Yes, you must only work in the nominated position and occupation as approved by your sponsoring employer when applying for the Temporary Skill Shortage visa (Subclass 482). Additionally, there may be restrictions on working in certain industries under relevant Australian legislation.
16. Are there any age restrictions for applying for this visa?
The age restrictions for applying for this visa may vary depending on the specific program or category you are applying for. In general, most work visas have a minimum age requirement of 18 years old. Some countries may have a maximum age limit for certain categories, such as skilled worker or youth mobility visas. It is best to check the specific requirements for the visa you are interested in applying for.
17. Can I start working immediately after getting this visa approved?
Once your visa is approved, you will be allowed to enter and start working in the country stated on your visa. However, you may need to fulfill any other requirements such as obtaining a work permit or registering with the local authorities before you are able to start working. It is important to research and understand the specific regulations and requirements for working in the country where your visa is valid.
18. Is it mandatory to stay in Australia after obtaining this visa or can I travel outside of Australia as well?
It is not mandatory to stay in Australia after obtaining this visa. You can travel outside of Australia while holding this visa, but you must comply with the conditions of your visa, including the length of time you are allowed to stay in Australia and any work restrictions. It is important to check your specific visa conditions before leaving Australia.
19. Are there any conditions that I must meet after arriving in Australia on this visa?
Yes, there are a few conditions that you must meet after arriving in Australia on this visa:
1. You must comply with all Australian laws and abide by the conditions of your visa.
2. You must not work in Australia, unless your visa specifically allows you to do so.
3. You must have adequate health insurance for the duration of your stay in Australia.
4. If you are studying in Australia, you must maintain satisfactory attendance and academic progress.
5. You must notify the Department of Home Affairs if there are any changes to your personal details (e.g. address, passport details) or circumstances that may affect your visa.
6. If you leave and re-enter Australia, you must hold a valid visa to return (unless exempted).
7. You cannot enter into marriage or a de facto relationship before entering Australia on this visa.
8. If you plan to marry or enter into a de facto relationship while in Australia, you must apply for a different visa that allows this.
9. You must depart Australia before your visa expires, unless you have applied for another visa or have been granted an extension.
It is important to read and understand all the conditions attached to your specific visa subclass as they may vary slightly depending on individual circumstances. Failure to comply with these conditions can result in cancellation of your visa and possible deportation from Australia.
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