Business Owner Visa Tips and Tricks

Business Owner Visas are a convenient way for people who want to establish a business or already have an existing business to secure entry into Australia and the progression to permanent residence. In order to apply for a business owner visa, the correct form to submit is the 47BU and 1217 accompanied by a first installment fee of $1145 to the Australian Government and then a second instalment of $2860 which is to be paid if the applicant cannot demonstrate functional English. In order to obtain the business owner visa, you need to already have a provisional business skills visa.

However, it is also possible for people on temporary refugee or protection visas to obtain this type of visa on certain conditions. The first step is to make a valid application at one of the departmental business centres in Australia but not in immigration clearance. The secondary applicants do not need to be in Australia.

There are a number of criteria which need to be met in order for the application to be successful. At the time of the application, the applicant must have or have had an ownership interest in one or more actively operating main businesses in Australia for at least two years before making the application. At the time of application, an ABN must have been obtained from the ATO and all relevant BAS documents must have been submitted to the ATO. The assets held by the applicant in the business need to be valued at at least AUD$100,000 and the annual turnover of the business must be at least AUD $300,000. The applicant must also show that the business employed at least the equivalent of two full time employees who are Australian citizens or permanent residents. Also, the net value of personal and business assets held in Australia must be at least $250,000. Neither the applicant nor spouse can have a history of involvement in business or investm


ent activities that are not acceptable in Australia.

After the application has been made, when the decision is made the applicant has to continue to satisfy these criteria and also pass the other normal personal health and character requirements. If the applicant is outside Australia when the visa is granted and they satisfy the secondary criteria, first entry must be made by the date specified by the decision maker. Condition 8515 may also be imposed for this visa which prevents the applicant from getting married before entry into Australia.

By David A Coleman