This visa gives direct and permanent residence for “high calibre” business applicants.

It is a visa which can be applied for, either onshore or offshore, but prior to such application, an applicant must have sponsorship of a State or Territory of Australia and possess a sponsorship form signed by the State Premier/Territory Chief Minister or their delegate. If the applicant is over 55 years of age, the State or Territory must consider and advise DIMIA that the business to be established or participated in by the applicant will be of exceptional economic benefit to the sponsoring State or Territory.

Some of the Core Criteria
The applicant must:
• Have had an overall successful business career.
• Has had net assets in a “qualifying business/es” of at least AUD$400,000.00 in at least 2 of the last 4 financial years (such assets can be in the applicant’s or spouse’s or both names).
• If the “qualifying business/es” was a publicly listed company, the applicant must have had a shareholding of at least 10% of the total issued capital (again can be in applicant’s/spouse’s/both names).
• For at least 2 of the last 4 financial years, the main business/es must have had an annual turnover of at least AUD$3,000,000.
• Have net business and personal assets, lawfully acquired and available for transfer to Australia within 2 years after grant of visa, of at least AUD$1,500,000.
• Be less than 55 years of age or be able to establish and have the sponsoring State/Territory certify the business to be established or participated in, is of exceptional economic benefit to that State or Territory.
• Have a genuine and realistic commitment after entry into Australia to establish or participate in a “qualifying business”; to maintain a substantial ownership interest in that business; and maintain direct and continuous involvement in management of that business from day to day in making decisions that affect the overall direction and performance of that business in a manner which benefits the Australian economy.

You should always seek specific advice before acting. The information provided is as a guide only. Regulations may change. Where hotlinks are made to external sites we cannot guarantee the accuracy thereof.