In Sydney, Australia, the allure of higher education for students is being complemented by the country’s lifestyle, which is increasingly appealing to business owners seeking new ventures and opportunities.

This comprehensive guide aims to illuminate the process and criteria linked with the Business Owner Visa (Subclass 890) in Australia.

The Business Owner visa caters to individuals who own and manage businesses within Australia, allowing indefinite stay in the country. However, prospective primary applicants must possess a qualifying visa granted on specific grounds to apply for this visa type.

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Eligibility requirements stipulate that candidates must have an eligible visa and have resided in Australia for a minimum of 12 months within the last 2 years before submitting their application, while holding this visa.

Eligible visas include:

• Business Owner (Provisional) visa (subclass 160)
• Senior Executive (Provisional) visa (subclass 161)
• Investor (Provisional) visa (subclass 162)
• State/Territory Sponsored Business Owner (Provisional) visa (subclass 163)
• State/Territory Sponsored Senior Executive (Provisional) visa (subclass 164)
• State/Territory Sponsored Investor (Provisional) visa (subclass 165)

To meet the residence criteria, applicants must have owned and operated a business in Australia for at least 2 consecutive years preceding the application. Being physically present in Australia during the application lodgment is mandatory, although family members can be inside or outside Australia but not in immigration clearance.

Business eligibility prerequisites involve proving ownership interest, business value, and exhibiting direct and continuous management involvement in the business on a day-to-day basis. Evidence of ownership interest and business value for the nominated main businesses is mandatory.

Furthermore, financial benchmarks include showcasing ownership interest value corresponding to specific business turnovers, maintaining net business assets, demonstrating annual turnovers, employing qualified employees, and documenting net personal and business assets.

Health requirements must be met, and the applicant’s immigration history is considered during application assessments.

Applying for the Business Owner Visa (Subclass 890) involves notifying the business development agency in the intended state or territory, furnishing a comprehensive array of identity, business, ownership, and financial documents, and payment of the application fee.

Upon successful application, this visa offers permanent residency, work and study privileges, access to Australia’s public health care system, Medicare, sponsorship capabilities for relatives, and the potential to become an Australian citizen.

The visa enables indefinite stay in Australia, and while it includes a travel component valid for 5 years, applicants can enter and exit the country multiple times. The initial permanent residency begins upon visa grant, allowing for citizenship eligibility.

The cost of this visa is approximately AUD2,810.00 for the main application, with additional charges applicable for specific circumstances like functional English requirements and certain family members’ applications. Supplementary expenses may include health checks, police certificates, and biometrics.