Important Australian Business Visa Terms
Australian Business Migration - under the Australian Immigration regulations, specially for Australian business migration, there are several terms you should understand. These are applied when delaing with Australian immigration applications under the business skills stream
Applicant |
The applicant is the person applying for the visa to remain in Australia temporarily or permanently |
Designated Investment |
This means an investment in a security issued by an Australian State government authority as specified by the Minister by Gazette Notice for the purposes of Investor and State sponsored Investor visa subclasses |
Eligible Investment |
- Ownership interest in a business
- A loan to a business
- Cash on deposit
- Stocks & bonds
- Real estate
- Gold or silver bullion
Owned by the person for the purposes of producing by way of income or capital gain and is NOT held for personal use |
Main Business |
- The applicant has, or has had, an ownership interest in the business
- The applicant maintains, or has maintained a direct and continuous involvement in the management of the business from day to day and in making decisions affecting the overall direction and performance of the business
- The value of the applicants ownership interest, or the total value of the ownership interests of the applicant and the applicants spouse in the business is or was at least 10% of the total value of the business
- The business must be a qualifying business
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Major Business (Senior executives only) |
Means a business, other than a government business, with an annual turnover of not less than A$ 50 million in each of the preceding 4 fiscal years immediately preceding the making of the application.
If you are sponsored by an Australian State, the turnover requirement is reduced to A$ 10 million. |
Net assets |
The net assets of a business is the amount attributable to the owners or shareholders of the business after deducting financial claims upon the business by third parties from total assets.
(Net assets = Total assets – Liabilities) |
Ownership Interest |
In relation to a business means:-
- A shareholder in a company that carries on a business
- A partner in a partnership that carries on the business
- A Sole proprietor of the business, including such an interest held directly through one or more interposed companies, partnerships or trusts (if a trust, there are strict requirements)
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Qualifying Business |
Means the enterprise :-
- Is operated for the purpose of making a profit through the provision of goods, services, or goods and services (other than the provision of rental property)
- Is not operated primarily or substantially for the purpose of speculative of passive investment
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