Australia sponsored business owner visa requirements, eligibility criteria, application steps and FAQs

Visa 892 is suitable for foreigners who want to continue running their business in Australia or maybe start a new business. You cannot apply for visa 892 unless you have a previous provisional valid visa in the business innovation and investment visa group.

Documents Required for a Sponsored Business Visa Owner 892

Here is a list of documents that you must submit for a sponsored business visa owner 892:

  • You must present a valid passport for your 892 visa application, you may also be asked to submit a national ID (if you have one), and a valid driver’s license.
  • Visa application form 47BU. You have to submit this filled-in paper form for your visa application.
  • Sponsorship form 949.
  • Form 1217.
  • Evidence that you pass the good character prerequisite. Along with the required documents, you must also submit form 80 (personal particulars assessment), and form 1221 for additional information.
  • Help forms. If someone is receiving communications in your place, then you must submit this form, but, if a migration agent is helping you then submit form 956.
  • A two-page summary of your business. This summary should contain key information about your business, such as; your ownership interest in your business in Australia, the length of ownership, your detailed business activities in Australia, and similar information.
  • One structured chart. This chart should be only one page and show your position and role in the business, your staff members, their duties, and managerial positions.
  • Six pictures of your establishment. You are required to submit photographs of your business grounds, i.e., the place from where you operate your business.
  • Evidence of business ownership. When you submit your application for a business visa 892, you are required to submit any proof that shows your legal claim on your business(es) that includes your business license, company registration, your Australian Business Number (ABN) for each business, any partnership agreements, legal purchases and so on.
  • Evidence of your business turnover. You must attach financial statements (prepared by an independent accountant) covering a year at least three months before your application, your (ABN) for every business, and Business Activity Statements (BAS). The latter two should be from two years prior to your visa 892 application.
  • Proof of employed persons. You must provide evidence that one year before your visa application you have employed at least one person working at least 30 full hours per week. Your employees must be paid at the federal minimum wage or Award rate, and you have to include evidence that those employees are Australian citizens, permanent residents, or New Zealand passport holders.
  • Personal and business assets. You must provide evidence that you, your partner, or both together had personal and business assets for at least AUD250,000 for a year before you submit your application. You should also provide any documentation regarding real estate ownerships, cash assets, loans, credits, stocks, etc.
  • Proof of managerial involvement. If you apply for this visa, you must show that you were involved in the day-to-day operations of your business, decision makings, contract draw-ups, and similar responsibilities as a manager within your business.
  • Sign Australia’s Values Statement.
  • For any family member who applies with you for visa 892, submit the following:
    • Passports
    • Birth certificates
    • Adoption papers
    • Marriage certificate
    • Divorce certificate
    • Registered relationship
    • Proof of functional English
    • Proof of dependency

Eligibility Criteria for a Sponsored Business Visa Owner 892

These are the eligibility criteria you must meet in order to qualify for visa owner 892:

  • You must hold one of the following visas:
    • Business Owner Provisional Visa- subclass 160.
    • Investor Provisional Visa- subclass 162.
    • Senior Executive Provisional Visa- subclass 160.
    • State/Territory Sponsored Business Owner Provisional Visa- subclass 163.
    • State/Territory Sponsored Investor Provisional Visa- subclass 165.
  • You have lived in Australia under one of the above-mentioned visas for at least 1 year in the two-year period before you apply for visa 892.
  • For at least two years before you apply for this visa, you have owned and ran a business in Australia.
  • You must be sponsored by the state or territory where you operate your business from.

How Do I Apply for a Sponsored Visa 892?

Firstly, you must submit your visa application fee via an ImmiAccount, and only then you can apply for the visa. Secondly, you are required to send the application documents and forms by post to the Adelaide Business Skills Processing Centre. You cannot submit your application via ImmiAccount.

Your documents won’t be processed if you send them to another address, and you must submit your application documents in English.

Sponsored Business Visa Owner 892 Processing Times

The processing time for a business visa owner 892 is two and a half years. Some applications may be processed sooner while others later. This will vary depending on how complete your application is at the time of submission.

The Immigration Department may contact you for more information after you lodge your application and the longer it takes to provide the requested information the longer your application will take to be processed.

How Much Is the Fee for a Sponsored Business Visa 892?

A sponsored business owner visa costs AUD2,450. However, you also have to pay additional fees for your family members. Moreover, if your family members cannot provide evidence of English language then you have to pay a second installment fee of AUD4,890.

Find more details about the visa fees here.

How Long Can I Stay With a Sponsored Business Visa Owner 892?

You can stay indefinitely with a business visa owner 892 since this is a permanent visa. You can also apply for Australian citizenship if you meet the citizenship requirements.

Can I Apply With My Family Members for a Visa 892?

Yes, you can apply for visa 892 with your family members, or you can add them later on. However, any additional family members must be included before there is a final conclusion on your visa 892 application.

For the purposes of visa application, family members are only counted if they are:

  • Your spouse
  • Your partner
  • Your or your partner’s minor child
  • Your or your partner’s adult dependent child

Traveling With a Sponsored Business Owner Visa 892

Visa 892 is issued with a travel facility that becomes invalid after 5 years. These five years are counted from the day the visa is issued, and you cannot travel when the facility expires. You are allowed to leave the country, but, you may lose your permanent residence.

In order to continue traveling freely, you must apply for a resident return visa. This visa will extend your travel facility for another five years and it can be renewed according to your needs.

Australia Sponsored Business Owner Visa 892 Application Denial

If for any reason, your visa 892 application is denied, then you can apply for an appeal to review the decision of the Department of Foreign Affairs. You may not always qualify for an appeal, but, the department will let you know if you can submit an appeals request or not.

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