What is 163 Visa?
This visa is for people who have a successful business career, and have a genuine and realistic commitment to be involved as an owner in a new or existing business in Australia. This visa is also the first step towards being granted a permanent Business Skills visa.
More details:
This visa is a temporary visa, and the first step towards being granted a permanent Business Skills visa. You must be outside Australia when this visa is granted, unless you held a student visa at the time you applied.
You may be eligible for a permanent Business Skills visa after holding this visa for a minimum of two (2) years. To be eligible for a permanent Business Skills visa you must meet all the obligations of this visa and additional requirements of the permanent Business Skills visa you apply for. Meeting these requirements may take you longer than two (2) years.
After two (2) years you may be eligible to apply for one of the following visas:
- Business Owner (residence)
or - State/Territory Sponsored Business Owner (residence)
This visa is for business owners from overseas who intend to own a business in Australia, and are less than 55 years old.
How much will this visa cost?
What does this visa let me do?
With this visa you can:
- establish a new or existing business in Australia
- travel in and out of Australia any number of times as long as the visa is valid
- have your family accompany you to Australia. They will have access to work and study rights
- establish a pathway to permanent residence.
Visa validity period
This visa is valid for four years.
If the visa is granted while you are:
If the visa is granted while you are:
- in Australia (Student visa holders only),it is valid from the date of grant
- outside Australia, it is valid from the entry expiry date on your visa label.
Eligibility
Age
You must be less than 55 years old (except where the regional authority considers that the proposed business will be of exceptional economic benefit to the region.)
Sponsorship
You must be sponsored by an appropriate regional authority of a State or Territory Government.
Business success
You must have an overall successful business career.
You must have an ownership interest in a main business (or two main business combined) with an annual turnover of at least AUD300 000 in at least two of the four fiscal years immediately before you apply and you (and your partner combined) must have owned at least:
- 51 per cent of the business where the turnover is less than AUD400 000 per annum.
- 30 per cent of the business where the turnover is AUD400 000 or more per annum.
- 10 per cent where the business is a publicly listed company.
Your (and your partner's combined) business and personal assets have a net value of at least AUD500 000 and were legally acquired and are capable of being transferred to Australia within two years of being granted this visa.
You have sufficient assets (additional to those above) to settle in Australia.
You have not been engaged in a business where the provision of professional, technical, or trade services took up more than half your time.
You (or your partner) have never been involved in unacceptable business activities.
You must have a commitment to maintain an ownership interest in a business in Australia and have direct and continuous involvement in management of that business
You demonstrate there is a need to live in Australia on a temporary basis for business reasons.
Obligations
As a State/Territory Sponsored Business Owner (Provisional) visa holder you are required to provide valuable input to the Australian economy. You are required to obtain a substantial ownership interest in a business in Australia or maintain your investment in Australia for four years. The business must achieve at least one of the following:
- Develop business links with international markets
- Create or maintain employment in Australia
- Export Australian goods
- Produce goods or services that would otherwise be imported
- Introduce new or improved technology
- Add to commercial activity and competitiveness within sectors of the Australian economy
In that business you must also:
- Actively participate at a senior level in the day-to-day management of that business
- Continue to make such genuine efforts to hold a substantial ownership interest.
You may be asked to complete a monitoring survey to provide us with information about your business activities in Australia.
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