State/Territory Sponsored Business Owner Visa (Subclass 892)
The State/Territory Sponsored Business Owner Visa (Subclass 892) is a permanent residence visa for business owners who are nominated by an Australian state or territory government agency. This visa is designed for individuals who have successfully established or managed a business in Australia and are ready to transition to permanent residency.
Eligibility Requirements for the Subclass 892 Visa
You may be eligible for the State/Territory Sponsored Business Owner Visa (Subclass 892) if you meet the following criteria:
- You are the primary holder of one of the following provisional visas:
- 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).
- You must be sponsored by a regional authority in the state or territory where your business is located.
- You must have had, and continue to have, an ownership interest in one or more actively operating main businesses in Australia for at least two years before applying. This includes:
- Providing evidence of ownership interest and its value.
- Meeting the following ownership thresholds:
- 51% ownership of a business with a turnover of less than AUD 400,000 per year, or
- 30% ownership of a business with a turnover of AUD 400,000 or more per year, or
- 10% ownership of a publicly listed company.
- You must have a direct and continuous management role in the business, including during any periods spent outside of Australia.
- Each main business must meet the criteria to be considered a qualifying business, including obtaining an Australian Business Number (ABN) and providing Business Activity Statements issued by the Australian Taxation Office.
- You must meet the specified assets and employees requirements.
- You and all family members included in the application must meet health and character requirements.
- You must have complied with all conditions of your provisional visa.
What are the costs associated with the Subclass 892 Visa?
The costs associated with applying for the State/Territory Sponsored Business Owner Visa (Subclass 892) can vary. Below is a breakdown of the typical fees (all amounts in AUD):
- Department of Home Affairs Visa Application Fees: $2,890 (primary applicant), $1,445 (each secondary applicant over 18), $720 (each secondary applicant under 18).
- Other Costs: Fees for business activity and financial documentation preparation, health examinations, police checks, translations, etc., as applicable.
- Our professional fees: as applicable.
How to Apply for the Subclass 892 Visa
The application process for the State/Territory Sponsored Business Owner Visa (Subclass 892) involves several key steps. First we must verify that you meet all the eligibility criteria for the visa. After collecting all the necessary documents and obtaining state/territory sponsorship, you can apply for the visa. You must be onshore in Australia when the Department of Home Affairs receives the application. Once the application is processed, your visa outcome will be provided by the DHA in writing.
How Long Does the Subclass 892 Visa Process Take?
The processing time for the 892 visa can vary based on several factors. On average, processing times can take several months. However, the processing times for the Subclass 892 Visa is unavailable on the Department of Home Affairs website due to the low number of applications.
Benefits of the Subclass 892 Visa
The State/Territory Sponsored Business Owner Visa (Subclass 892) provides you and your eligible family members with permanent residency in Australia. Key benefits include:
- Permanent Residency: Stay in Australia indefinitely.
- Work and Study: Freedom to work and study anywhere in Australia.
- Healthcare: Access to Medicare, Australia’s public healthcare system.
- Citizenship Pathway: Apply for Australian citizenship if eligible.
- Family Sponsorship: Sponsor eligible relatives for permanent residency.
- Travel Flexibility: Travel to and from Australia for five years from the date the visa is granted. After five years, you’ll need a Resident Return Visa (RRV) or another visa to return to Australia.
How Better Life Migration Can Assist You
Navigating the complex legal requirements for a business visa can be challenging, but Better Life Migration is here to help. Our experienced migration team specialises in delivering comprehensive immigration solutions, ensuring you successfully obtain your business visa.
Ready to take the next step towards your Australian dream? Contact Better Life Migration today to start your State/Territory Sponsored Business Owner Visa (Subclass 892) application.
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