This is a four (4) year temporary visa, and is first step towards being granted a permanent residency. It is assessed against your previous business experience and assets. You must be outside Australia when this visa is granted, unless you hold a student visa at the time of application.

After two (2) years a Business Owner (residence) visa or the State/Territory Sponsored Business Owner (residence) visa may be available to you if you meet all the obligations of this visa and additional requirements of the permanent Business Skills visa. This may take you longer than two (2) years.

This visa provides temporary residency to the applicant and all immediate family who accompany them on their application.

Eligibility

You must be less than 45 years old and have notified the appropriate regional authority of your intention to develop a business in that State or Territory.

You must have a vocational level of English.

You (and your spouse combined) had net assets in a qualifying business of $200,000 for at least two of the four fiscal years immediately before you apply, and if the business was a publicly listed company, you (and your spouse combined) must have owned at least 10% of the business for at least two of the four fiscal years immediately before you apply.

In addition, you (and your partner combined) must have owned at least:

• 51 per cent of the business where the turnover is less than AUD400 000 per annum.
• 30 per cent of the business where the turnover is AUD400 000 or more per annum.
• 10 per cent where the business is a publicly listed company.

Your (and your spouse's) total assets have a net value of at least $800,000, were legally acquired and are capable of transfer to Australia within two years of being granted this visa and in addition you have sufficient assets ($100,000) to settle in Australia.

You have not been engaged in a business where the provision of professional, technical or trade services took up more than 50% of your time and you (or your spouse) have never been involved in unacceptable business activities.

You must have a commitment to maintain an ownership interest in a business in Australia with direct and continuous involvement in management of that business which requires you to live in Australia on a temporary basis.

Visa Charges:

1st installment of $3,930.00 (AUD) is payable at the time of making the application.

2nd installment of $4,110.00 (AUD) must be paid before the visa is granted if you have dependants 18 years of age or older with less than functional English.