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A subclass 892 visa application is the most popular pathway for those who have been living in Australia as the holders of a provisional business visa under sub classes 160, 161, 163, and 164, and who are owning and managing a business in Australia. Requirements for the granting of a permanent residency visa under subclass 892 are that the visa applicant: Is the holder of one of the above provisional business visas, or a subclass 162 or 165 visa Has been resident in Australia as the holder of one of these visas for at least 1 out of the 2 years immediately before the visa application is lodged Has a genuine commitment to continue to maintain business or investment activities in Australia Has never been involved in unacceptable business activities Is sponsored by a State or Territory Government Has had direct and continuous involvement in the day to day management of up to two businesses operating in Australia for the past two years Owns at least one of the following: – 51 per cent of a business where the annual turnover is less than A$400,000 – 30 per cent of a business where the annual turnover is A$400,000 or more – 10 per cent of a business that is a publicly listed company For the 12 months immediately before the visa application is submitted to the Department of Immigration the main business (or two main businesses together) had a turnover of at least A$200,000 In addition, for the 12 months immediately preceding the lodgment of the visa application with the Department of Immigration 2 out of 3 of the following requirements must be satisfied: The net value of the visa applicant’s (or the applicant’s partner’s, or the applicant and his/her partner’s combined) assets in the main business (or two main businesses) in Australia was at least A$75,000 The net value of the visa applicant’s (or the applicant’s partner’s, or the applicant and his/her partner’s combined) personal and business assets in Australia was at least A$250,000. The business/es employed at least the equivalent of one full-time employee who is: – An Australian citizen – An Australian permanent resident – A New Zealand passport holder – Not a member of the applicant’s family. The subclass 892 visa application must be lodged before the expiry of the presently held provisional business visa, and when the visa application is lodged with the Department of Immigration an ownership interest in the Australian business/es must have been in place for at least 2 years. Clearly there is a need to plan ahead to ensure a business in Australia is not acquired or set up too late to meet the requirement for a 2 year ownership interest, and to ensure business accounts are available and State or Territory sponsorship has been secured. All of these requirements are to be satisfied at the time the visa application is lodged with the Department of Immigration’s Business Skills Processing Centre.
zoeburrell posted a topic in Aussie ChatEvening all, We are applying for PR at the moment and our application is with State Govt as we are applying for an 892 State sponsored visa. Its been with them for about 6 weeks so hopefully should hear soon. We are planning on front loading our application to DIAC and have booked our medicals for tomorrow. I have just seen on here that some medical centres wont let you do medicals if you dont have a Case number? We don't!! I didnt think this was an issue just that it was a risk if it took longer than 12 months.... Does anyone know for sure? My visa agent knows we are going and didnt say we couldn't and would think he would know.... If anyone has any experience please let me know, Thanks Zoe :-)
Hi everyone We are in Sydney on a 163 Business owners visa and we are coming up to 2 years of me owning a business and believe we meet the criteria (I hope) to apply for PR. In March we will have owned the business for long enough and we need to apply to get PR as my daughter has been accepted into the Uni of NSW and they will possibly hold her place for 6 months whilst we get PR - the international fees are obscene! I am unsure of exact difference between 890 and 892 but think we are going to apply for an 892. Has anyone done this on their own? I need to keep costs down and so if people have any experience then please let me know if you think its possible or not. Or if there are any agents out there that are reasonable in price? All advice gratefully received.... Thanks! Zoe :-)
We have been in Qld for 3 years on a State sponsored business owners 163 temporary visa. We bought a business, run it for 2 years and satisfied all the criteria for PR. I then sent all the paperwork off to once again get state sponsorship. That was approved and i have now sent all the paperwork off to get PR. Does anyone know the processing time for getting PR. We were initially given a timeline when we arrived, that stated the processing time was 3 months for the whole thing. I phoned immigration a couple of weeks ago to clarify something and they told me it would take 11 months!!!!!!! Have any business owners been through the process lately? Thanks Paul