Business Owner Visa 890

This is a permanent residence visa for business owners from overseas who have held one of the required provisional visas; their family members can also be included on the application.

To be eligible the applicants must:

• meet the usual health and character requirements
• have spent at least 12 months of the two years immediately before applying in Australia
• (main applicant) must have had and continue to have direct and continuous management in their main business (or two main businesses) for at least two years immediately before application
• own a certain percentage of the business depending on its annual turnover

In addition to the above requirements:

• The net value of the applicant’s (or applicant and spouse’s combined) assets in the business(es) must be at least AUD$100,000 throughout the 12 months immediately before application
• The net value of the applicant’s (or applicant and spouse’s combined) personal and business assets must be at least AUD$250,000 throughout the 12 months immediately before application.
• The applicant is also required to demonstrate that their main business (or two main businesses) had a turnover of at least AUD$300,000 in the 12 months immediately before application and employed at least two full-time employees who were Australian citizens, permanent residents or New Zealand passport holders.