It's a permanent business class Visa. It is ideal for individuals who own
an Australian business and operate the same. The Subclass 890 visa
permits you to live in Australia permanently. To become eligible to
apply for this visa, you need to have a qualifying visa approved
individually.
Key requirements to apply
Here are the fundamental essentials to apply for this particular visa
- You hold any of these visas, i.e. Subclass 160/161/162/163/164/165 visa.
- Stayed for a minimum of 12 months (out of 2 years) immediately before submitting the visa application.
- Have demonstrated sincere commitment to sustain investment in Australia.
- No Involvement in any unlawful business activities ever (both partner and you)
- Both partner and you hold good health and moral conduct.
- Fulfil all the conditions of the provisional business visa.
- Must not have outstanding debts to the Government of Australia or must have organized to pay the same if any.
- Must have a minimum of two business operating in Oz and have submitted Business Activity Statements (BAS) to the Australian Taxation Office for the last two years for all the businesses mentioned
- It would help if you had at
least:-
Fifty-one per cent of a business with an annual turnover of less than AUD400 000.
Thirty per cent of a business with an annual turnover of AUD400 000 or more.
Ten per cent of a publicly listed company. - You must have at least 2 of the
below:-
Have net assets worth of at least AUD100 000 throughout the 12 months immediately before you apply.
Net Value of your personal and business assets has been at least AUD250 000 throughout the 12 months immediately before you apply.
You have hired at least one full-time Australian citizen, permanent resident or New Zealand citizen throughout the 12 months immediately before applying who is not a family member. - Your principal or two businesses together should have a turnover of at least AUD 300 000 in the past 12 months.