What is 892 Visa?
This visa is designed to attract business people to assist in the economic development of Australia. The visa allows you to stay in Australia on a permanent basis for the purpose of owning a new or existing business. You must have held one of the qualifying provisional visas, be sponsored by a state/territory authority, and meet the requirements to be eligible for this visa.
People who have an ownership interest in an Australian business and are directly involved in managing that business.
How much will this visa cost?
What does this visa let me do?
With this visa you can:
- work
- travel in and out of Australia any number of times as long as the visa is valid
- study in Australia
- have your family accompany you to Australia. They will have access to work and study rights
- become a permanent resident of Australia.
- live in Australia as a permanent resident for five years (after 5 years, you will need to apply for a resident return visa).
Visa validity period
This visa is a permanent residence visa. This visa allows you to travel to and enter Australia for five years from the date the visa is granted. If you wish to continue to travel to and from Australia as a permanent resident after the initial visa has expired, you must obtain a Resident Return Visa (RRV).
Eligibility
To be eligible for this visa you must have met the obligations of the provisional visa you held, as well as the following requirements. You must provide evidence of each of the requirements with your application.
Provisional visa holder
You are the holder of one of the following visas:
- Business Owner (Provisional)
- State/Territory Sponsored Business Owner (Provisional)
- Senior Executive (Provisional)
- State/Territory Sponsored Senior Executive (Provisional)
- Investor
- State/Territory Sponsored Investor (Provisional)
- Business (Long Stay) Independent Executive visa
- Skilled – Independent Regional (Provisional).
You have been sponsored by an appropriate regional authority of a State/ Territory government.
You have had and continue to have, an ownership interest and direct and continuous management, in up to two actively operating main business in Australia for at least two years immediately before you apply. You must own 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
A transitional provision is available if you have purchased a main business in Australia prior to 19 April 2010 and you are applying for this visa. Under these circumstances a minimum of 10 per cent ownership in a main business is required.
For each of these businesses, an Australian Business Number has been obtained for all Business Activity Statements (BAS) required by the Australian Taxation Office and you can provide evidence that the BAS were lodged to the ATO for the 2 years before you lodged your visa application.
You (or your partner) have never been involved in unacceptable business activities.
You have been in Australia for at least one year cumulatively in the two years before you apply.
You must also meet at least two of the following three requirements (unless the appropriate state/territory authority has determined there are exceptional circumstances).
- Net business assets – the net value of your (or your and your partner's combined) assets in the main business (or two main business) in Australia is at least AUD75 000 throughout the 12 months immediately before you apply.
- Net personal and business assets – the net value of your (or you and your partner's combined) personal and business assets in Australia has been at least AUD250 000 throughout the 12 months immediately before you apply.
- Provided employment – throughout the 12 months immediately before you apply your (or your and your partner's) business or two main businesses employed at least the equivalent of one full–time employee who is:
- an Australian citizen, permanent resident or New Zealand passport holder
- not a member of your family.
Your main business (or two main businesses together), had a turnover of at least AUD200 000 in the 12 months immediately before you apply.
This may not apply if you meet all of the following conditions:
- you met at least two of the three requirements above (net business assets, net personal and business assets, provided employment)
- the appropriate state/territory authority has determined there are exceptional circumstances
- both your business and residence is located in a designated regional or low growth area
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.
