If you want to start a business in Australia, the Business Owner Visa Subclass 890 and the Business Talent Permanent Visa Subclass 132 are two great visa options. These visas offer you a way to establish a successful business in Australia, as well as a pathway to permanent residency. You need to know all the details about the Business Owner Visa Subclass 890 and the Business Talent Permanent Visa Subclass 132, including their eligibility requirements, application processes, and more.
What is the Business Owner Visa Subclass 890?
The Business Owner Visa Subclass 890 is a permanent residence visa that enables business owners to permanently live and work in Australia. This visa is for those who want to own and manage a business in Australia or invest in an existing Australian business.
To be eligible for this visa,
- You must have held a designated investment of at least AUD1.5 million in an Australian State or Territory for four years.
- Have managed a qualifying business for two years out of the last four.
- The investment must remain in the designated Australian State or Territory throughout the visa's processing time.
- You must also meet the minimum requirements of having competent English language ability and meeting health and character requirements.
The Business Owner Visa Subclass 890 allows you to live and work in Australia indefinitely and travel in and out of the country multiple times. It also allows you to bring your family members with you to Australia if they meet certain criteria.
This visa is a great option for entrepreneurs who want to establish their own businesses in Australia, as it provides a pathway to long-term residency in the country.
What is the Business Talent Permanent Visa Subclass 132?
The Business Talent Permanent Visa Subclass 132 is specifically designed for people with an established track record of business success who can make a significant economic contribution to Australia. This visa allows successful applicants to make long-term investments and establish businesses in the country. It also enables them to live and work permanently in Australia and travel in and out of the country.
To qualify for this visa,
- Applicants must demonstrate that they have held successful business ownership or senior managerial role in a business for at least four years.
- They must also have total net assets of at least $1.5 million and at least three years of business experience or qualifications in one of Australia’s recognized skilled occupations.
Successful applicants can receive permanent residency in Australia with access to the same rights and benefits as Australian citizens, including access to Medicare and social security. Business Talent Permanent Visa Subclass 132 holders are also eligible to sponsor family members and permanent residents of Australia.
Once granted, this visa has no limit on how long you can stay in Australia. You can remain in the country indefinitely if you maintain your business activities and satisfy the other criteria. And if you want to leave for short periods, say for vacations or conferences overseas, then you don’t need a permit before going.