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This sub-category of the State/Territory visa service encourages the overseas business owners to apply for visa for Australian immigration. The applicants must have had a flourishing business or investment history and must be eager to migrate to Australia to utilise their business skills.
Duration
The starting business visa will be of five years and would enable the applicant to get permanent residence. The state/territory business owner can get the Australian permanent residence if he or she has stayed in Australia for a period of four consecutive years. If the applicant has stayed in the country for a consecutive period of two years he or she can apply for an extension.
Eligibility Criteria
The applicants for Australian state/territory sponsored business owner visa must have an excellent record in their respective business. Some of the essential conditions they must fulfil include besides a successful business history:
Age
The maximum age limit specified for the candidates to apply for the visa under this sub-category is 55 years. However, in exceptional cases where the business is expected to bring heavy economical benefits to the sponsoring state/territory, the age consideration could be relaxed to some extent.
Business Experience
The applicant must exceed the minimum limit of their business and personal net assets as per specified by the sponsoring state/territory. This entire amount must be transferred to Australia within a time span of 2 years. The applicant must have the ownership of at least 10% in the main business or in a business in a country other than Australia for at least 2 of the last 4 fiscal years with the specified minimum annual turnover as demanded by the sponsoring state/territory. Alternatively, the candidates could also have an excellent employment record on the position of Senior Manager. This further needs them to have appropriate academic background, adequate work experience in the desired field and sufficient net asset to settle in Australia. The business owners must submit a business plan that could convince the sponsoring government to allow them the visa for immigration to the desired state/territory in Australia.
Health and Character
Before being granted any permanent visa of more than 12 months, it is necessary for the immigration aspirants to satisfy the required health and character conditions. These include: A thorough medical check-up, chest x-ray being carried out by a panel of doctors recognised by the Australian authorities and certificates from police of all the countries where the applicants have stayed for more than 12 months in the last 10 years before applying for the immigration.
Processing Times
The current processing time for migration to Australia on a business owner visa is 9-12 months, from the start of the process.
