Business Skills Visas for Australia

Business Skills Visas

Business skills visas are an option for those who are business owners, who have been senior executives in fairly sizeable corporations, or who have been successful independent investors. Most of the visas under the business skills program are provisional visas initially, with well established pathways to permanent residency.

We strongly recommend that those that apply for a provisional business skills visa understand the requirements to be satisfied to secure a permanent residency visa in due course so they are aware of the expectations of the Department of Immigration before they commit to a visa strategy – Ian Harrop & Associates can discuss this with you.

The Investor Retirement provisional visa for those aged 55 and over also sits under the business skills program. It should be noted that this visa subclass does not provide an automatic pathway to permanent residency.

Provisional visas can facilitate some attractive tax planning opportunities – we will be pleased to introduce you to our tax consultant colleagues if you would like to explore this area in advance of progressing a business skills visa application.

Ian Harrop & Associates is based in the UK, and only looks after provisional business skills visa applications. If you are in Australia as the holder of a provisional business skills visa and wish to apply for a permanent residency visa please contact us so we can introduce you to our migration agent associates located in Australia.

Visas under the business skills program are divided into those that require formal State or Territory Government Sponsorship, and those that don’t:

• Business Talent Visa, subclass number 132
• Business Owner (Provisional), subclass 160
• State/Territory Government Sponsored Business Owner (Provisional), subclass 163
• Senior Executive (Provisional), subclass 161
• State/Territory Government Sponsored Senior Executive (Provisional), subclass 164
• Investor (Provisional), subclass 162
• State/Territory Government Sponsored Investor (Provisional), subclass 165
• Investor Retirement (Provisional), subclass 405

Business Talent Visa

This visa is available to business owners who are aged under 55, and provides permanent residency from the outset. As such the financial thresholds to be satisfied are relatively significant:

• Annual turnover of the main business (or two main businesses combined) was at least AUD3,000,000 in at least two of the four fiscal years immediately before you apply for the visa.
• You (with your partner combined, if applicable) had net assets invested in a qualifying business of AUD400,000 for at least two of the four fiscal years immediately before you apply for the visa.
• Your (or your and your partner’s) total assets have a net value of at least AUD1,500,000, were legally acquired, and are capable of being transferred to Australia within two years of being granted this visa.

Sponsorship from a State or Territory Government is required prior to the submission of a visa application under this category.

In our experience relatively few apply for this visa because of the high financial requirements, and the attractive tax opportunities available to those who apply for a visa under one of the provisional business skills subclasses.

Business Owner (Provisional) Visa

This visa is available to business owners who are aged under 45.

Requirements include:

• Annual turnover of the main business (or two main businesses combined) must have been at least AUD500,000 in at least two of the four fiscal years immediately before you apply for this visa.
• In addition, you (and your partner combined, where relevant) must have owned at least:
  • 51 per cent of the business where the turnover is less than AUD400,000 per annum.
  • 51 per cent of the business where the turnover is less than AUD400,000 per annum.
  • 30 per cent of the business where the turnover is AUD400,000 or more per annum.
  • 10 per cent where the business is a publicly listed company.
• Your (and your partner’s) total assets have a net value of at least AUD800,000, and were legally acquired and are capable of being transferred to Australia within two years of being granted this visa.
• You have sufficient assets (additional to those above) of at least AUD100,000 to settle in Australia.
• You (and your partner combined) had net assets in a qualifying business of AUD200,000 for at least two of the four fiscal years immediately before you apply for this visa.

Applicants must:

• Have an overall successful business career.
• Have not been engaged in a business where the provision of professional, technical, or trade services took up more than half the time.
• Have never been involved in unacceptable business activities.
• Have a commitment to maintain an ownership interest in a business in Australia, and direct and continuous involvement in the management of that business.
• Confirm a need to live in Australia on a temporary basis to conduct or establish the proposed business activity.

State/Territory Government Sponsored Business Owner (Provisional) Visa

This visa is available to business owners who are aged under 55, and is the most popular visa under the business skills visa program.

Requirements include:

• Annual turnover of the main business (or two main businesses combined) must have been at least AUD300,000 in at least two of the four fiscal years immediately before you apply for this visa.
• In addition, you (and your partner combined, where relevant) must have owned at least:
  • 51 per cent of the business where the turnover is less than AUD400,000 per annum.
  • 30 per cent of the business where the turnover is AUD400,000 or more per annum.
  • 10 per cent where the business is a publicly listed company.
• Your (and your partner’s) total assets have a net value of at least AUD500,000, and were legally acquired and are capable of being transferred to Australia within two years of being granted this visa.
• You have sufficient assets (additional to those above) to settle in Australia.
• Sponsored by the State or Territory Government in which you will be living.

Applicants must:

• Have an overall successful business career.
• Have not been engaged in a business where the provision of professional, technical, or trade services took up more than half the time.
• Have never been involved in unacceptable business activities.
• Have a commitment to maintain an ownership interest in a business in Australia, and direct and continuous involvement in the management of that business.
• Confirm a need to live in Australia on a temporary basis to conduct or establish the proposed business activity.

Senior Executive (Provisional) Visa

This visa is available to those who are aged under 45.

Requirements include:

• You have occupied a position in the three highest levels of the management structure of a major business. In that position the visa applicant was responsible for the strategic policy development affecting a major component or a wide range of operations of that major business, and has done so for at least two of the four fiscal years immediately before the visa is applied for.
• Your (or you and your partner’s) total assets have a net value of at least AUD800,000, were legally acquired. and are capable of being transferred to Australia within two years of being granted this visa.
• You have sufficient assets (additional to those above) of at least AUD100,000 to settle in Australia.

A major business is a business (other than a government business enterprise) with an annual turnover of at least AUD50 million in at least 2 of the 4 fiscal years immediately before the visa application is submitted.

Applicants must:

• Have an overall successful business career.
• Have never been involved in unacceptable business activities.
• Have a commitment to maintain an ownership interest in a business in Australia, and direct and continuous involvement in the management of that business.
• Confirm a need to live in Australia on a temporary basis to conduct or establish the proposed business activity.

State/Territory Government Sponsored Senior Executive (Provisional) Visa

This visa is available to those who are aged under 55.

Requirements include:

• You have occupied a position in the three highest levels of the management structure of a major business. In that position the visa applicant was responsible for the strategic policy development affecting a major component or a wide range of operations of that major business, and has done so for at least two of the four fiscal years immediately before the visa is applied for.
• Your (or you and your partner’s) total assets have a net value of at least AUD500,000, were legally acquired. and are capable of being transferred to Australia within two years of being granted this visa.
• You have sufficient assets (additional to those above) to settle in Australia.
• Sponsored by the State or Territory Government in which you will be living.
• A major business is a business (other than a government business enterprise) with an annual turnover of at least AUD10 million in at least 2 of the 4 fiscal years immediately before the visa application is submitted.

Applicants must:

• Have an overall successful business career.
• Have never been involved in unacceptable business activities.
• Have a commitment to maintain an ownership interest in a business in Australia, and direct and continuous involvement in the management of that business.
• Confirm a need to live in Australia on a temporary basis to conduct or establish the proposed business activity.

Investor (Provisional) Visa

This visa is available to investors and business owners who are aged under 45.

Requirements include:

• For at least one of the five fiscal years immediately before you apply:
  • You have maintained direct involvement in either managing a main business in which you (or you and your partner together) had an ownership interest of at least:
    • 51 per cent of the business where the turnover is less than AUD400,000 per annum
    • 30 per cent of the business where the turnover is AUD400,000 or more per annum
    • 10 per cent where the business is a publicly listed company
      and the main business is a qualifying business
  • You maintained direct involvement in managing your (or your and your partner’s combined) eligible investments. The total value of these investments was at least AUD1,500,000.
• At the time of the visa decision you have made a Federal Government approved Designated Investment of AUD1,500,000 in a State or Territory of Australia –a Designated Investment is an interest bearing Bond issued by the State or Territory in which you will be living.
• The net value of your (or your and your partner’s combined) assets was at least AUD2,250,000 for the two fiscal years immediately before you apply for this visa.

Applicants must:

• Have a total of at least three years experience of direct involvement in managing one or more main businesses or eligible investments.
• Have an overall successful history of investment activities or business career.
• Have demonstrated a high level of management skill in relation to an eligible investment or qualifying business activity.
• Have never been involved in unacceptable business or investment activities.

State/Territory Government Sponsored Investor (Provisional) Visa

This visa is available to investors and business owners who are aged under 55.

Requirements include:

• For at least one of the five fiscal years immediately before you apply:
  • Have maintained direct involvement in managing a qualifying business in which you (or you and your spouse or de facto partner) had an ownership interest of at least 10 per cent of the total value of the business
  • maintained direct involvement in managing your (or your and your partner’s combined) eligible investments, the total value of which was at least AUD750,000.
• At the time of the visa decision you have made a Federal Government approved Designated Investment of AUD750,000 in a State or Territory of Australia – a Designated Investment is an interest bearing Bond issued by the State or Territory in which you will be living.
• The net value of your (or your and your partner’s combined) assets was at least AUD1,125,000 for the two fiscal years immediately before you apply for this visa.
• Sponsored by the State or Territory Government in which you will be living.

Applicants must:

• Have a total of at least three years experience of direct involvement in managing one or more main businesses or eligible investments.
• Have an overall successful history of investment activities or business career.
• Have demonstrated a high level of management skill in relation to an eligible investment or qualifying business activity.
• Have never been involved in unacceptable business or investment activities.

Investor Retirement (Provisional) Visa

This visa is available to financially self supporting investors who are aged 55 or over. It is a temporary residency visa which is valid for 4 years, and can be renewed on a recurring basis – it does not lead to permanent residence in Australia, or Australian citizenship.

The financial thresholds set out below reduce upon a renewal of the first Investor Retirement visa; Ian Harrop & Associates is based in the UK, and only looks after the initial application for this visa. If you are in Australia as the holder of an Investor Retirement visa and would like to apply for a renewal of your visa please contact us so we can introduce you to our migration agent associates located in Australia.

Requirements include:

• You must have assets valued at least AUD750,000.

  The assets must be:

  • Legally owned and lawfully acquired by you (or you and your partner)
  • Capable of and available for, transfer to Australia.

  If you intend to live in regional Australia (as defined) the required value of your assets is reduced to at least AUD500,000.These assets must have been owned for at least 2 years prior to lodging the visa application, unless the assets are related to superannuation and/or an inheritance. These assets are in addition to the funds required to make the Designated Investment discussed below.

• At the time of the visa decision you have made a Federal Government approved Designated Investment of AUD750,000 in a State or Territory of Australia – a Designated Investment is an interest bearing Bond issued by the State or Territory in which you will be living. If you intend to live in regional Australia the amount of the Designated Investment is reduced to AUD500,000.
• You (or you and your partner combined) must have access to a minimum net income of AUD65,000 (for example, from pensions and other investments). If you intend to live in regional Australia the minimum income requirement is reduced to AUD50,000.
• You must have evidence that you, and your partner (if applicable), hold an adequate health insurance package for the period of your intended stay in Australia.

This visa allows for work in Australia of up to 20 hours each week.