State or Territory Sponsored Business Owner visa (subclass 892)

The State or Territory Sponsored Business Owner visa (subclass 892) is a visa designed for individuals who own and manage a business in Australia. This visa allows you to stay in Australia indefinitely and offers various benefits to business owners.

Process

In order to apply for the State or Territory Sponsored Business Owner visa (subclass 892), you must go through the following process:

1. Hold an eligible visa: You must currently hold an eligible visa, such as the Business Owner (Provisional) visa (subclass 160), Senior Executive (Provisional) visa (subclass 161), or Investor (Provisional) visa (subclass 162), among others.
2. Meet the residence requirement: You must have lived in Australia on your eligible visa for at least 12 months in the 2 years immediately before the application is made while holding this visa.
3. Own and manage a business: You must have owned and operated a business in Australia for at least 2 years immediately before the application is made. You must have a direct and continuous management role in the business on a day-to-day basis.
4. Meet the assets and employees requirement: You must meet at least 2 of the following requirements:
   • Provide employment to Australian citizens, permanent residents, or New Zealand passport holders that is equivalent to the employment of 1 full-time employee.
   • Have a net value of business and personal assets in Australia of at least AUD250,000.
   • Have net business assets in the main businesses of at least AUD75,000, which were lawfully acquired.
   • Have an annual turnover in your main business (or 2 main businesses together) of at least AUD200,000.
5. Have a sponsor: You must be sponsored by the regional authority in the state or territory where you conduct your business.
6. Meet the health requirement: You and your family members who apply with you must meet the health requirement. You may need to undergo health examinations, which will be notified to you.
7. Meet the character requirement: You and your family members who are 16 years old or older must meet the character requirement. This includes providing Australian police certificates and overseas police certificates if applicable.
8. Sign the Australian Values Statement: All applicants who are 18 years of age or older must read or have explained to them the Life in Australia booklet and confirm their commitment to respect the Australian way of life and obey Australian laws by signing the Australian Values Statement.
9. Pay back any debt to the Australian Government: If you or any family members owe the Australian Government money, you must have paid it back or made arrangements to do so.
10. Not have had a visa cancelled or a previous application refused: Your immigration history will be considered when making a decision on your application. If you have had a visa cancelled or an application refused, you may not be eligible for this visa.
11. Get sponsorship: You must obtain sponsorship from a regional authority in the state or territory where you conduct your business. Complete Form 949 State/Territory notification: Business Skills and send it to the appropriate state or territory authority.
12. Gather your documents: You must provide documents proving your identity, business activities, assets, employees, health, and character, among others. These documents include passports, educational certificates, financial statements, employment contracts, and police certificates, among others.
13. Apply for the visa: You must submit your application by post or courier to the Adelaide Business Skills Processing Centre. Include all the required forms, supporting documents, and the application fee.
14. Wait for a decision: After you submit your application, you will receive a notification that it has been received. The processing time for this visa varies depending on individual circumstances. You can check the progress of your application through VEVO.
15. Receive the visa outcome: If your visa is granted, you will receive written notification with your visa grant number, the start date of your visa, and any conditions attached to it. If your visa is refused, you will be informed of the reasons for the refusal and whether you have a right to a review of the decision.

In Australia

Once you have been granted the State or Territory Sponsored Business Owner visa (subclass 892), you can enjoy the following benefits:

• Stay in Australia indefinitely
• Work and study in Australia
• Enroll in Australia's public health care scheme, Medicare
• Sponsor eligible relatives for permanent residence
• Apply for Australian citizenship, if eligible

You must obey all Australian laws and continue your business activity in Australia or make a realistic commitment to doing so. It is important to keep track of your visa's travel facility, as you can travel to and from Australia for 5 years from the date the visa is granted. After 5 years, you will need a Resident Return visa (subclass 155 and 157) to re-enter Australia as a permanent resident.

When leaving Australia, ensure that you have a valid passport or travel document and that your visa is still valid and allows you to re-enter Australia. You can check the travel component of your visa through VEVO.

If you have any changes to your circumstances, such as a new passport, a change in marital status, or the birth of a child, you must notify the Department of Home Affairs as soon as possible.

Overall, the State or Territory Sponsored Business Owner visa (subclass 892) offers business owners the opportunity to establish and manage a business in Australia while enjoying the benefits of permanent residency.