Applicant

At the time that you are invited to apply for this visa, you must:

• be nominated by an Australian State or Territory government agency
• be under 55 years of age (unless your proposed business is considered to be of exceptional economic benefit to the nominating State or Territory)
• genuinely wish to own, and maintain a major management role in, a business in Australia

Business Experience

At the time that you are invited to apply for this visa:

• you must have overall had a successful business career
• you (and your spouse/de facto partner, if applicable) must have had no involvement in unacceptable business or investment activities
• in at least two out of the last four financial years, your main business (or two main businesses together) must have had an annual turnover of at least AU$3 million

Notes: You (and/or your spouse/de facto partner, if applicable) must have an ownership interest (i.e. as a shareholder, partner or sole proprietor) in the main business(es) of at least:

• 51% where the turnover was less than AU$400,000 per annum
• 30% where the turnover was AU$400,000 or more per annum
• 10% where the business was a publicly listed company

Each such business must also be a ‘qualifying business’ i.e. it must provide goods and/or services (other than rental property) to the public, and not be operated primarily or substantially for the purposes of speculative or passive investment.

In addition, you must have been directly and continually involved in the day-to-day management of each business, and in making decisions affecting its overall direction and performance.

Net Assets

You (and/or your spouse or de facto partner, if applicable) must:

• in at least two out of the last four financial years have had net assets of AU$400,000 in a qualifying business in which you had an ownership interest have total net business and personal assets of at least AU$1.5 million that were lawfully acquired, and can be transferred to Australia within two years of the visa grant date.