457 company sold

[Andy1984]

Hi

Im on a 457 visa and the company I work for has been sold, it still has same trading name but new abn.  Im 4 weeks away from applying for PR and I’ve been told by my immigration agent that I have to now apply for 482 visa and start from square 1 again and wait another 3 years before I can apply for PR. 

ive read that because it may be classed as a associated entity I can just transfer my visa and not lose any time worked and carry on as normal. 

Does anyone have any experience in this situation. 

Thanks in advance 

[Samson]

Currently you are without a sponsor. So I assume your current 457 has grounds for cancellation. 

I would defo seek some advice from the MA’s who post on here but firstly I think your new company owner  will need to become a standard sponsor and nominate you so your current 457 is covered by a sponsoring company once this has been approved then Yes I believe you can be sponsored for PR without resetting the clock. However I think you need to demonstrate that the Job is the same, management is the same duties are the same wages are the same etc etc 

The issue firstly is the time it will take for the company to get approved sponsor status and for the nomination to be lodged (a year plus) your current 457 may have naturally expired or cancelled as the original sponsor abn is cancelled. 

Again I’d strongly speak with one of the agents on here  as this is my own views and I am not an expert

 

[Raul Senise]

9 hours ago, Andy1984 said:

Hi

Im on a 457 visa and the company I work for has been sold, it still has same trading name but new abn.  Im 4 weeks away from applying for PR and I’ve been told by my immigration agent that I have to now apply for 482 visa and start from square 1 again and wait another 3 years before I can apply for PR. 

ive read that because it may be classed as a associated entity I can just transfer my visa and not lose any time worked and carry on as normal. 

Does anyone have any experience in this situation. 

Thanks in advance 

The new entity which has purchased the business will need to apply to become a sponsor and transfer your current visa to them by lodging a 482 nomination.

Once your current visa has been transferred to the new entity, you can potentially still apply for Permanent Residency and claim the time which you were employed and sponsored by the previous entity. 

There is scope in Migration Policy which specifically covers the sale of a business, so as not to disadvantage visa holders applying under the TRT pathway of the subclass 186 program.