Changes have been made to the
Australian Business Skills
On 19 April 2010, changes to the minimum eligibility requirements for Australian business visa applicants were introduced.
These changes to the Business Skills Migration Program resulted in an increase in the net assets and / or business ownership requirements for a number of business visa subclasses, as well as the removal of the senior migration option for the subclass 163 visa. Read on for a more detailed explanation of each of the changes:
Increased net assets for Australian business visa applicants
The minimum net business and personal assets required for the following sponsored provisional Business Skills visas have been increased from AU$250,000 to AU$500,000 in response to increases in the cost of living and business establishment costs:
The minimum net business and personal assets required for the following provisional Business Skills visas ahve been increased from AU$500,000 to AU$800,000 in response to increases in the cost of living and business establishment costs:
Increased business ownership
Business migrants will now be required to own a substantial or controlling interest in a business to meet visa requirements. The minimum business ownership percentage required has been increased from 10 per cent to:
51 per cent where the business turnover is less than AU$400,000;
30 per cent where the business turnover is AU$400,000 or more; OR
10 per cent where the business is a publicly listed company.
This amendment applies to all business owner visas (subclasses 132, 160, 163, 890, 892, 845, 846).
Senior manager option removed from the Subclass 163 visa
Applicants who are employed as senior managers of a business can no longer apply for a State / Territory Sponsored Business Owner (Provisional) (subclass 163) visa. Only business owners are now eligible for this visa.
- Lauren Mennie is Casework Department Manager for the Australian Visa Bureau
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