Published on 31/03/2022 by Any Business.Com.Au

Can I Buy a Business for Immigration Purposes?

Owning a business in Australia can provide a pathway for migration with residency visas and ultimately citizenship in Australia for migrants and their immediate family.

It also enables business owners to sponsor other relatives for permanent residency.

With a substantial amount of pandemic-related restrictions and natural disasters having huge impacts on global economies of recent times, it has become increasingly easier to buy and run a business in another country.

In fact, the Australian government actively encourages foreign citizens to have businesses in Australia and contribute to the country's economy by applying for a Business Owner Visa.

The Business Owner Visa is for people who own and manage a business in Australia. It allows you to stay in Australia indefinitely. To apply as a primary applicant, you must have a qualifying visa granted on a particular basis.

Own and manage a business

For the 2 years immediately before you apply, you must have had, and continue to have, an ownership interest in one or more actively operating main businesses in Australia.

For each nominated main business you must provide evidence of:

• ownership interest in the business
• value of your ownership interest
• for the 2 years immediately before you apply, the value of your ownership interest or the total value of the ownership interest of you and your partner, must have been at least:
  • 51% of a business with a turnover of less than AUD400,000 per year, or
  • 30% of a business with a turnover of AUD400,000 or more per year, or
  • 10% of a publicly listed company
• that you had and continue to have, a direct and continuous management role in that business on a day to day basis (including periods when you are outside of Australia)
• that each main business meets the criteria to be assessed as a qualifying business
• obtained an Australian Business Number (ABN) for each of your main businesses (you can rely on a maximum of two ABNs)
• provide evidence of portal process Business Activity Statements issued by the Australian Taxation Office

If you spent more than 6 weeks in total outside Australia during the 2 years, you must explain how you managed the business while you were away.

With this visa, you can

• stay in Australia permanently
• work and study in Australia
• enrol in Australia's public health care scheme, Medicare
• sponsor your relatives to come to Australia
• travel to and from Australia for 5 years
• if eligible, become an Australian citizen

How long you can stay

This is a permanent visa. It lets you stay in Australia indefinitely.

The visa has a travel component that expires 5 years after the date of visa grant.

You become a permanent resident on the day the visa is granted.

For citizenship purposes, your permanent residency starts on the day:

• the visa is granted, if you are in Australia
• you enter Australia on this visa, if you are outside Australia

Include family

You can include members of the family unit in your application. You can:

• include them when you lodge your visa application
• add them after you lodge your application but before the visa is decided

A member of the family unit can include family members who hold an eligible visa that was granted on the basis that they were a member of your family unit at the time their eligible visa was granted.

This provision may apply even where the person would no longer meet the definition of members of the family unit, for example a child who has turned 23 years of age since their eligible visa was granted.

A member of the family unit who applies for the visa must meet our health and character. A member of the family unit not accompanying you to Australia may also need to meet our health and character requirements.

Cost

Application charge:

The visa costs (approx.) AUD2,495 for the main applicant.

There is also a charge for each member of the family unit who applies for the visa with you.

Second instalment charge

You might have to pay an extra charge for any applicant 18 years old or older who has less than functional English and who does not hold an eligible visa when they apply.

This charge is called the second instalment. This charge is only payable if you are requested to pay it and an invoice is issued.

The second instalment charge for family members is (approx.) AUD4,890.

You might also have to pay other costs for health checks, police certificates and biometrics.

Apply from

You must be in Australia when you lodge your application. Your family can be in or outside Australia but not in immigration clearance.

You must hold an eligible visa to make a valid application for this visa.

Processing times

Applications will be assessed on a case-by-case basis, and actual processing times can vary due to individual circumstances including:

• whether you have lodged a complete application, including all necessary supporting documents

• how quickly you respond to any requests for additional information

• how long it takes to perform required checks on the supporting information provided

• how long it takes to receive additional information from external agencies, particularly in relation to health, character, and national security requirements

• for permanent migration visa applications, how many places are available in the migration program

Your obligations

You and your members of the family unit must obey all Australian laws.

It is expected that business visa holders continue their business activity in Australia, or make a realistic commitment to doing so.

Travel

You can travel to and from Australia as many times as you want for 5 years from the date the visa is granted. After 5 years you will need a Resident Return (RRV) visa (subclass 155 and 157) to re-enter Australia as a permanent resident.

* Written with information from immi.homeaffairs.gov.au

AnyBusiness.com.au

Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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