Australian Permanent Residence:

Business Person

The Australian Government is very keen to attract business people from overseas with proven business experience.

• Overview: Australian Business Migration (Skills)
• Classes of Australian Business Migration Visa
• Do it Right the First Time

Overview: Australian Business Skills Migration

The Business Advisory Panel (BAP) undertook a major review of business entry programs in 1999. Effective from 01 March 2003 many of these and other recommendations have since been implemented.

This Business Skills program focuses on successful business people who wish to settle permanently in Australia to establish new business ventures, or to become an owner or part-owner of an existing business in Australia after their arrival.

Obtaining immediate permanent migration currently applies only to overseas applicant clients with exceptional business skills. Where permanent visa requirements are not met, applicants will initially need to apply for a provisional (temporary) business skills four year visa under the new two-stage business skills migration scheme, and after providing satisfactory evidence of a specified level of business activity in Australia, may apply for a permanent business skills visa.

The objective of Australia's Business Skills visa classes is to benefit Australia by: developing international markets; creating or maintaining employment in Australia; transferring capital and investments; exporting Australian goods or services; producing goods or provide services that would otherwise be imported into Australia; introducing new or improved technology; and adding to commercial activity and competitiveness within sectors of the Australian economy.

Business Owners, Senior Executives and Investors are eligible to apply for a Business Skills visa.

As of 01 March 2003, overseas Business Skills visa applications made from all countries (except Taiwan and Hong Kong) must be delivered to, and lodged with, the relevant Business Skills Processing Centre in Australia.

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Classes of Australian Business Visa

Australia's Business Skills visa classes provide for:

• Successful business people offshore who are owners (or part-owners) of a business (or businesses) or senior executives employed by major businesses; and will use their business skills to obtain a substantial ownership interest in a new or existing business in Australia and actively participate in that business at a senior management level
• Successful business people offshore who invest in 'designated investments' in Australia
• There are also options for Australian State/Territory governments to sponsor business persons who have particular skills and attributes relevant to that State's development policies. (Concessionary visa criteria apply to such sponsored subclasses).

Basic requirements vary for each visa Subclass.

• Talented Business Owners (permanent)
• Two-Stage Process (temporary to permanent)

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Talented Business Owners (permanent)

This subclass is created to provide a direct and immediate path to permanent migration for successful business owners, or part-owners of a business with exceptional business skills who, as applicants, may meet the following criteria (among other criteria) in a manner that benefits the Australian economy:

• Have a genuine and realistic commitment to establish or participate in a business in Australia.
• Intend to maintain a substantial ownership interest in that business;
• Will maintain direct and continuous involvement in management of that business.
• Are less than 55 years old at the time the application is made (If over 55 years must be sponsored by an Australian State or Territory who agrees business activity will be of exceptional economic benefit to their State or Territory).
• Recently maintained level of involvement in business for a prescribed period immediately before application is made.
• Have had assets with a net value of at least AUD$ 400 000 in a qualifying business or businesses with a sufficient ownership interest in.
• Have assets (both business and personal) net value being at least AUD$ 1 500 000.
• For a prescribed period immediately before application is lodged, the main business or businesses must have had an annual turnover of at least AUD$ 3 000 000.

If you are assessed as not meeting this permanent visa class you will need to proceed (if eligible) through the two-stage process of initially applying offshore for a provisional (temporary) business visa and then a permanent visa in Australia.

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Two-Stage Process (temporary to permanent)

Under this scheme, almost all business migrants are granted a provisional visa for four years. The program requires a person to hold a provisional business skills visa for a period of time before he or she can be eligible for a permanent business skills visa.

For the majority of applicant clients, an application would need to be made under the Business Skills (Provisional) visa applied for offshore, comprising 6 visa subclasses; and where appropriate, the Business Skills (Residence) visa, comprising 4 visa subclasses.

The provisional offshore visa class provides visas for Business Owners, Senior Executives and Investors, with corresponding visas, offering significantly lower criteria in recognition of sponsorship by State or Territory Governments.

At the second stage, the permanent onshore visa class provides for business owners and investors, including State or Territory sponsored visas in each case. Both business owner and senior executive provisional visa holders are required to engage in business to obtain permanent residence at the second stage. Senior Executive provisional visa holders will also be eligible to apply for permanent residence under the Employer Nomination Scheme and Regional Sponsored Migrations Scheme visa categories should they receive an offer of highly skilled employment while in Australia.

Basic requirements vary for each business (temporary/provisional) visa Subclass.

Business Owner (Provisional):

For successful offshore business owners, or part-owners of a business, who meet the following criteria (among other criteria) in a manner that benefits the Australian economy:

• Have a genuine and realistic commitment to establish or participate in a business in Australia.
• Intend to maintain a substantial ownership interest in that business.
• Will maintain direct and continuous involvement in management of that business.
• Less than 45 years old at the time the application is made.
• Have had net assets worth at least AUD$ 200 000 in the qualifying business or businesses with a sufficient ownership interest in.
• Main business or businesses had for a prescribed period an annual turnover of at least AUD$ 500 000 immediately before their application is lodged.
• Have assets (both business and personal) net value being at least AUD500 000 and have business and personal assets of a sufficient net value to settle in Australia.

Senior Executive (Provisional):

This category is for offshore executives who occupied a position in the three highest levels of the management structure of a major business (non-government), with an annual minimum turnover equivalent to AUD$50 million in each of any two of the four fiscal years immediately before application. They must also have been recently, at least, responsible for strategic policy development affecting a major component or a wide range of operations of that major business. In addition, they must meet the following criteria (among other criteria) in a manner that benefits the Australian economy:

• Have a genuine and realistic commitment to establish or participate in a business in Australia.
• Intend to maintain a substantial ownership interest in that business.
• Will maintain direct and continuous involvement in management of that business.
• Less than 45 years old at the time the application is made.
• Have net assets being at least AUD$ 500 000 and have business and personal assets of a sufficient net value to settle in Australia.

Investor (Provisional):

This category is for offshore applicants with an overall successful record in a high level of management skill in relation to an eligible investment or qualifying business activity. They must have (among other criteria):

• Recently maintained direct involvement in managing a qualifying business in which the applicant or their spouse together had an ownership interest of 10 percent or more of the total value of the business, or
• Recently maintained direct involvement in managing eligible investments of the applicant, the total net value of which was at least worth AUD$ 1,500,000.
• For a prescribed period prior to lodging the application have owned assets (personal and business) with a net value of at least AUD$ 2,250,000.

State/Territory Sponsored:

There are also options for Australian State/Territory governments to sponsor business persons from overseas who have particular skills and attributes relevant to that State's development policies determined by a gazetted 'appropriate regional authority'.

Under the sponsored subclasses - State/Territory Sponsored Business Owner (Provisional); State/Territory Sponsored Senior Executive (Provisional); and State/Territory Sponsored Investor (Provisional) - certain concessionary visa criteria apply. For instance: net asset value amounts are less, and applicant must be less than 55 years old at the time the application is made (unless are proposing to establish, or participate in, a business that the appropriate regional authority has determined is of exceptional economic benefit to the relevant State or Territory).

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Do it Right the First Time

Migration regulations are technical, and evidence requirements demanding. For the 2009-2010 program year, a worldwide total of 2,078 business skills visas were refused and 9,419 granted, making 22.06% percent who were unsuccessful (statistics provided by DIAC).

All business skills migrants must demonstrate a commitment to business in Australia, and most visa holders have up to four years on a provisional visa to engage in a business in Australia. Some visa holders, initially granted permanent residence outright (instead of a provisional visa), can be subject to visa cancellation. For instance, in 2005-06 visas granted under this category totaled 6,080 migrants, and of those, 1,020 visas were Cancelled.

Company financial records must be available to determine turnover, net assets and labour costs under the relevant business streams. Where evidence of audited accounts proves difficult or the net assets are insufficient, then one should consider instead the "senior management" business path or general skilled indivdiual migration.

Even where specific criteria have been met, business migrants will be monitored after their visa approval and arrival to determine if the economic objectives of the Business Skills program are being met. Surveys generally are conducted at 24 and 36 months after the migrant's initial arrival. Where no significant steps have been taken towards engaging in business within the first three years of arrival, Immigration has the power to cancel the visa.

Avoid taking unnecessary risks, and save time and expense by working with Beyderwellen & Company. It's fast and easy to get started. Simply complete our Online Australian Immigration Assessment Form to discover how you can migrate to Australia.

View our sample Client Case Studies to see how our clients have successfully migrated to Australia.

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