State or Territory Sponsored Business Owner Visa (subclass 892) Australia From Kenya | Apply for State or Territory Sponsored Business Owner Visa (subclass 892)

State or Territory Sponsored Business Owner Visa (subclass 892)

The State or Territory Sponsored Business Owner Visa Subclass 892 is a permanent residence visa. The visa holders of subclass 892 can stay in Australia for duration of five years. The applicants must hold qualifying provisional business visa and must be sponsored by the state or territory government agency.

You can get the visa subclass 892 if you:

  • Have owned and managed a business in Australia for two years to the minimum
  • Have stayed in Australia for a year in the past two years
  • Possess one of the provisional visas of subclass 160,161,162,163,164 or 165 an
  • Fulfil the health and character requirements
  • Adequate sponsorship by the state/territory government
  • No participation in unacceptable business pursuits

The business visa subclass 892 allows you to:

  • Work and Study in Australia
  • Live in Australia permanently
  • Sponsor eligible relatives for permanent residence in Australia
  • Apply for Australian citizenship depending on eligibility requirements
  • Avail the benefits of Medicare
  • Move in and out of Australia for five years after the visa has been granted

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.

What is the processing time for the visa?

The business visa for Australia is generally processed within 17-18 months.

How long can I stay in Australia?

The visa holders of subclass 892 can stay indefinitely in Australia.

What is the cost of the visa?

The visa costs AUD 2,225 along with some additional costs.

Can I lodge the application for business visa out of Australia?

You need to be in Australia at the time you lodge the visa application. However, your family can be in or out of Australia.

Can I include my family in the visa application?

Yes, you can include the below-mentioned people when lodging the visa application.

  • Partner
  • Children/Step-Children
  • Children/Step-children of your partner

Relevant evidence of your relationship with the nominated people must be provided. Also, your family members must fulfil the business visa subclass 892 requirements.

Provided information should not be taken as exhaustive, additional requirements for the visa do apply. Visa requirements may differ as per individual circumstances. For your eligibility assessment visit one of our qualified professionals.

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