- Points Based
- Most people below the age of 51 years old, with an occupation (listed on each country’s list), 2+ years of work experience & good English / French are eligible for this
- It is the most popular way of settling overseas
- Similar to skilled immigration
- Occupation must be listed on the state list
- Long term visa converted to PR & citizenship
- Very popular option for most countries
- Candidates who find a full time job & an employer overseas are eligible for this visa
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- Some countries offer permanent residency anyone who has a parent, brother, sister, uncle, aunt or first cousin overseas
- The sponsoring relative needs to be an citizen or a permanent resident of that country
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- Many countries offer a temporary or PR visa in exchange for an investment
- Investment amounts can range from $50,000 to $500,000 or more
The State or Territory Sponsored Business Owner Visa Subclass 892 is a permanent residency visa that allows business owners who have held a qualifying provisional visa.
WHY CHOOSE THE SUBCLASS VISA 892?
- Permanently live in Australia
- Get employed in any region of Australia
- Apply for citizenship upon gaining eligibility
- Sponsor your family and relatives for PR
- Gain access to Medicare schemes and policies
STATE OR TERRITORY SPONSORED BUSINESS OWNER VISA SUBCLASS 892
The State or Territory Sponsored Business Owner Visa Subclass 892 is for individuals interested in owning or running a business in any state of Australia. The Visa grants an unlimited stay period wherein the visa holders can reside in Australia. The Visa is only issued after the candidate has stayed in the country for a minimum of 2 years.
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ELIGIBILITY CRITERIA
- Visa – You must have the following visas to apply for the Subclass 892 Visa.
- Business Owner Provisional Visa- subclass 160.
- Senior Executive Provisional Visa- subclass 160.
- Investor Provisional Visa- subclass 162.
- State/Territory Sponsored Business Owner Provisional Visa- subclass 163.
- State/Territory Sponsored Investor Provisional Visa- subclass 165.
- Sponsorship – The candidate interested in applying for the Visa must have a sponsorship from a state or territory in Australia.
- Business obligations –
- The candidate must have owned a business for a minimum of 2 years.
- Maintain a margin of 30% ownership in the company with a turnover of AUD 400,000 per year.
- 10% of the companies that are publicly listed.
- Own 51% of the business with an AUD 400,000 turnover annually.
- Residency requirements – You must have resided in Australia for a minimum year and continue your stay when applying for the Visa.
- Employee information – While applying for Visa 892, you will be required to submit details of any employee with a minimum of one year of experience working for your company.
- Assets – The candidate applying for the Visa must maintain an AUD 200,000 turnover with an AUD 75,000 net asset in the central business.
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CHECKLIST OF REQUIREMENTS
Maintaining a checklist to keep track of your documentation and paperwork for the given Visa is always advised.
The most important things to maintain while applying for the Subclass 892 visa are given below:
- Must have an authorized sponsor from Australia.
- Documents like character & health requirements, resident proof, and employee and asset details must be kept aside.
- Be present in the country while applying for the Visa.
STEPS TO APPLY
Step 1: Check your eligibility
Step 2: Arrange the requirements
Step 3: Apply for the visa
Step 4: Fly to Australia
PROCESSING TIME
The processing time for the State or Territory Sponsored Business Owner Visa Subclass 892 takes two and half years. The processing time for the applications also depends on the application date and the documentation submitted for it.
Any information mentioned correctly can ensure the application processing time is on time.
HOW CAN Y-AXIS HELP YOU?
- Free eligibility check through Australia Immigration Points Calculator
- Expert guidance/counseling for Australia Immigration
- Coaching services: Expert PTE coaching, IELTS proficiency Coaching
- Free career counseling, book your slot today
- Complete guidance for Australia PR visa
- Job search servicesto find related jobs in Australia