eiger

Thanks - Ive moved the post there!

I am currently in Aus on a 457 visa. Myself and a couple of friends (Aussie citizens) are planning to start a small financial trading/investments company. Does anyone have any knowledge, or had any experience with setting up a company on a 457 visa? I understand that as part of the visa conditions, I have to remain employed by my sponsor, which I am planning on doing. The company is going to be very small, and I don't plan on making any money from it whilst I am on my 457, as I understand this would be a breach of my visa conditions. (see next point) I have the 8107 condition which means I must not "engage in work for another person or on the holder's own account while undertaking the employment in relation to which the visa was granted." Is this limited to being an employee and earning money from the company? What if I were to be a shareholder only, or would this also be deemed as engaging in work? Can I be a director of a company on a temporary resident on a 457? According this website on limited liability company regulations, "There are no restrictions in relation to nationality or residency provided that at least one company director is an Australian resident." But what about the restrictions from the immigration dept's point of view? Would love to get some expert opinions on this, as I'm sure I'm not the only one in this position, and I cant find much else on the topic! Many thanks!!

I am currently in Aus on a 457 visa. Myself and a couple of friends (Aussie citizens) are planning to start a small financial trading/investments company. Does anyone have any knowledge, or had any experience with setting up a company on a 457 visa? I understand that as part of the visa conditions, I have to remain employed by my sponsor, which I am planning on doing. The company is going to be very small, and I don't plan on making any money from it whilst I am on my 457, as I understand this would be a breach of my visa conditions. (see next point) I have the 8107 condition which means I must not "engage in work for another person or on the holder's own account while undertaking the employment in relation to which the visa was granted." Is this limited to being an employee and earning money from the company? What if I were to be a shareholder only, or would this also be deemed as engaging in work? Can I be a director of a company on a temporary resident on a 457? According this website on limited liability company regulations, "There are no restrictions in relation to nationality or residency provided that at least one company director is an Australian resident." But what about the restrictions from the immigration dept's point of view? Would love to get a discussion going on this, as I'm sure I'm not the only one in this position, and I cant find much else on the topic! Many thanks!!

Hi all, I am currently on a 457 visa. I have a friend who is setting up a business, and he has invited me to invest and become a shareholder. Am I able to legally do this within the rules of my 457 visa? I understand I can only work for the sponsoring company which I will continue to do, and I wont work for the new company - i'll only act as a silent investor with my mate being the director. Many thanks.

That would be great if there is one!! Any suggestions?

I am currently on a 457, and happily working for my sponsored employer, with no plans to change! However, myself and a friend (who is an AU citizen) want to start a small business to work on in our spare time. I understand as a condition of the 457, I can not work for another company or even myself, but is there another way? Am I allowed to have ownership of the partnership? How about if I don't ever get paid from it (until I have a permanent visa?) Can I have a company in my country of residence that has ownership of said company in Australia? I understand the position of the immigration department whereby they impose these conditions to stop people from getting "fake" sponsorship's then working elsewhere and undermining their immigration policies, but I feel it also has a fairly anti-business effect for someone wanting to do more in their spare time, whilst still genuinely maintaining their commitments to their sponsoring employer. Has anyone else been in a similar position and found an intelligent legal solution, other than having to put all entrepreneurial endeavors on hold for two (or more) years?

I understand that whilst on a 457 visa, you are only permitted to work for the sponsoring employer, and no one else (including yourself). However, are you allowed to make investments in the international financial markets (and possibly gain/or lose a little extra income) via an Australian broker? It doesn't make any sense not to allow this as after all, investing in the financial markets is just precisely the same thing as ones Super fund is doing.

I am currently on a 457 visa (although i stopped working for my sponsor and have since left Australia after the 90 day period.) I need to return to Aus as a tourist in order to look for further employment and failing that, finalise all my affairs before departing permenantly. I'm planning to apply for an eVisitor business (651) visa (I had one successfully granted in June 2014) but I understand that the immi department usually takes a while to actually cancel the 457. Do I need to call immigration and manually cancel my current 457 first, or will the eVisitor application automatically override the 457?? Thanks

Thanks, but as stated "I have recently been made redundant from that employer" so unfortunately this is not going to be an option!

I emigrated to Australia from the UK in June 2014 on a 457 visa, but I have recently been made redundant from that employer. I wish to gain my PR as soon as possible, so I am looking at the permanent visa options. I have found a company that wishes to nominate me for a 186 visa under the same occupation as my 457. I have worked for 2 years in my occupation in Australia, and I have a positive skills assessment from VetAssess for that occupation, however on the skills assessment outcome letter under the "point test advice" section, it states with regards to my previous employment in the UK: "the tasks undertaken are not closely related to the ANZSCO tasks for the nominated occupation" Does this mean that I would not qualify as having "3 years of relevant work experience" in my occupation for the purposes of a 186 application? It is my understanding that in order to have qualified for my 457 in the first place, I needed to have relevant work experience prior to the 457 visa being granted. Surely this then means that this prior work experience should qualify towards the 3 years of prior work experience required for the subclass 186? As always, any help/advice would be hugely appreciated!!

Hello, I have spent the last 22 months working for my sponsoring employer on a 457, but unfortunately I have just been made redundant due to large changes at the company. I have found an employer who is willing to sponsor me for the 186 under the direct entry stream. After seeking advice from many registered consultants, my plan is to leave the country, cancel my 457 and return on a business visitor visa to seek further employment. It would then be possible to lodge the 186 application from that business visa, should the nomination go successfully etc. My question is, given the processing time of 5-8 months, would I be allowed to work for the employer that is nominating me during the time the visa is being processed? I also have a positive skills assessment for my occupation, but for some reason the assessing authority only assessed the previous 8 months of work (even though Ive been in the exact same role for 22 months) as being "relevant." Would this render me ineligible for the 186 Direct entry due to the requirement of "3 years relevant work experience?" Many thanks in advance