Business Owner Visa (subclass 160) is for people who are well experienced in business, and interested in migrating to Australia. Business Owner Visa (subclass 160) is exclusively for individuals interested in setting up business or investing in Australia, the applicants should have a genuine interest in investing in Australia or setting up business. Business Owner Visa (subclass 160) helps you to secure an Australian Permanent Residency.
Features of the visa:
- 4 years stay as an provisional Australian business visa can lead to permanent residence
- The applicant should be under the age of 45 years to apply for an Australian visa application.
- Must have a successful business career
- Of the last four financial years, for two years, the applicant needs to have ownership in a business that had an annual turnover of not lower than AU$300,000.
- When personal and business assets are combined, they need to have a net value of at least AU$250,000
- Applicant needs to be available for a transfer which may be required within two years after getting the visa.
- Need to have enough assets for use and settlements in Australia.
- Applicants should not be involved in a business type that took more that 50% of their time in the form of technical, professional and trade services.
- Involving in investments and businesses that are treated as unacceptable in Australia is not encouraged.
- Need to notify the authorities in the territory or state about their business history and also your intentions in developing a business commitment with them.
- Needs to genuinely involve in the management of existing or new business in Australia which can benefit their economy.
- Need to show that there is a need of you to be in Australia for conducting your business, temporarily.
Health and Character:
- Applicants are mandated to undergo certain health examinations to quality for the visa process
- Applicants must meet all health requirement and should be free from diseases that are considered as a threat to public or the community
- Under certain cases you are required to sign an undertaking by Medical Offers to satisfy that you are healthy and hale
- The DIAC has mentioned certain character requirement for Business Owner Visa (subclass 160)
- Applicants should provide police certificate from all the countries that applicant has stayed in the last 10 years.