Apart from the eligibility criteria mentioned above, applicants must meet the below-mentioned conditions to get the State or Territory Sponsored Business Owner Visa Subclass 892:
Ownership of Business: You must have an ownership interest in at least 2 successfully running businesses in Australia for 2 years at the minimum before applying.
You and your partner must have
- 51% share in the business (with turnover less than AUD 400 000)
- 30% share in business (with turnover is AUD 400 000 or more)
- 10% where your business is recognised as publicly listed
Acquisition of Business: Show evidence that you acquired the nominated business in the visa lodgement.
Clearance of Debts: The applicant must not bear any kind of debts to the Australian government.
Management of Business: Applicants must show their involvement in everyday management of business activities. There must be adequate proof of strong decision making which impacts the performance of the business. A complete record of business management activities must be presented.
Assets and Employees: Meet at least 2 of the below mentioned requirements:
Employ at least one full-time employee before you apply for the business visa (New Zealand Passport Holder, Australian citizen or non-family member)
The net value of your business assets must be least AUD 75000 throughout the year before the application is made.
The net value of your personal and business assets (combined) must be least AUD 250 000 throughout the year before you apply for business Investment visa Australia.
Turnover: Supply evidence that your business had a yearly turnover of AUD 200 000 in the last two years before you apply.