Question of the Week
Business Visa - Setting up a Business in Melbourne - Permanent Residency
Category: No Category
Question asked
I am from Singapore. I have a business experience of more than 10 years as CEO and COO of various companies. I would like to start a business with an Australian citizen in Melbourne.
1) what should the process be? i.e set up an ABN with my partner first?
1) Which Visa do i apply for?
2) I have up to 5 dependents. Which may need to relocate with me i.e Wife, Children, Mother & Father
3) We plan to start the business by end 2017
4) Would I be eligible to apply for Permanent Residency instead?
Thank you.
Regards,
R.
Answer provided by Migration Agent
Dear R.
Thank you for your email.
To be able to start a business in Australia as a business owner, you need to apply for a business visa first. You have to show you are (were) a business owner with at least 30% shareholder during the last 10 years in your country. Your business turnover should be at least 500.000 AUD yearly for 2 years among the last 4 years. You and your spouse total assets should be at least 800.000 AUD. There are other criteria as well.If you could send me your CV with details about your business financial figures, I will be able to check if you eligible or not.
If you are eligible, you will be granted a 4 year business visa which after running your business for 2 years and meet other immigration criteria , you can apply for permanent residency.
You can add your family member including your children under 18 years old and if they are above 18 years, they have to be dependent to you. Regarding your father and mother you need to show strong evidence and proof that they are dependent to you and is up to your case officer to accept your documents and add them to your application.
--------- Request for Clarification --------------
Thank you for your prompt response. I need clarification for these.
1) To proof my business turnover over the past 2 fiscal years, will I be required to submit my firm's Formal Financial Report to the case officer? If not, is this just a declaration?
2) I have formal documents to proof that I have more than 50% shareholding in the company for the last 10 years, since 2008.
3) My total asset (Business+Personal) is valued at around $2million. What documents do I need to prepare to prove this?
4) My Father(56 years old) and Mother (60 yrs old) are retired. They currently live with me and I see to their day to day care-taking. What is the case officer looking at as 'dependent', which would make it a strong case?
I look forward to further my services with you.
Thank you.
----------- Clarification from Migration Agent --------------
Dear R.
Thank you for your reply and seek clarification. Please find below the answers.
1- Yes , you need to provide financial documents like Auditing report which is prepared by independent professional Auditors. Also you need to provide some other business documents like company sales contracts ,.... as well. Document checklist with details how to prepare these documents will be provided to you from my side.
2- Excellent, this is one of the main criteria to be eligible for this visa.
3- Your business value will be calculated and declared in your Auditing report by professional Auditor. For personal assets, you need to get someone who has this responsibility in your country to evaluate your properties .
4- This is not an easy case to proof for this business visa ,mostly court order or similar documents would be counted as strong documents. You need to proof they cannot do daily routine without your presence which means they are incapable. Supporting financially is not a strong reason as you still can do this when you are in Australia.
Please be advised that you can bring your parents later by other visas like 3 year visitor visa or permanent parent visa,when you get your Australian permanent residency and if half of their children be Australian Permanent Resident, they will be eligible for permanent residency through parent visa.
I hope I answered to all your concerns.
I will be more than happy to help you through this business visa as I have long term experience in this kind of business visa.
If you need further services from myself or a registered migration agent, please contact Amy at amy.jacobson@ask-an-agent.com.au or visit https://www.ask-an-agent.com.au/visa-quote - and don't forget to mention your Question ID so that I can keep providing immigration services to you.
Best Regards
Registered Migration Agent
Connect with Migration Agents and Immigration Lawyers
75 Agents and Lawyers are currently online. View profiles and compare ratings before hiring your migration agent.
Ask-An-Agent is the trusted online marketplace connecting consumers and businesses with migration agents and immigration lawyers.
It's never been easier.
Or search the Immigration Blog for the latest updates
What is the difference between choosing Ask-An-Agent over Facebook Groups or other Forums?
Facebook Groups, Blogs and Forums are a great place for meeting people although they’re still the online equivalent of an anonymous village pub.
Answers on Facebook Groups, Blogs and Forums
- are provided by complete strangers you may not know.
- locked in time and may be outdated.
- may not fit your unique set of circumstances.
Information provided by unqualified strangers is unreliable. Trusting it may be harmful to you.
It is your future and we believe you deserve qualified and affordable legal advice before preparing your visa application and spending your dollars.
Know that we have got your back
You get qualified legal answers online, 24 hours a day and 7 days a week.
Ask your questions online from the comfort of your home. A migration agent or immigration lawyer will provide a qualified and reliable answer in writing and by email to your inbox.
Get the Ask-An-Agent app
It is fast, easy and free!
The Ask-An-Agent community
Whether you’re hiring a migration agent or post your migration questions, know that we’ve got your back every step of the way.
Ask-An-Agent community members are celebrating the best migration agents, immigration advisors and immigration lawyers.
Congratulations to all the 2022 Immigration Choice Awards winners.
Immigration Choice Awards 2022
Meet your Migration Agents and Immigration Lawyers
View migration agent profiles. Read reviews from other community members who have already hired a migration agent.
Quick Links:
Or meet with an Agent near you: Find Migration Agents near me
Promotion from our Partner
