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Business Visa Australia: Important Terms

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Below are several important terms you should understand prior to reviewing Business Visa requirements for business migration to Australia.

Applicant

The applicant is the person applying for the visa to remain in Australia temporarily or permanently.

Appropriate regional authority

'Appropriate regional authority' means a Department or authority of a State/Territory that is specified by Gazette Notice in relation to the grant of a Business Skills Visa.

A$/AUD

'A$' or 'AUD' means the Australian Dollar equivalent value in the basis of the buying rate:

Designated investment

'Designated Investment' means investment in a security issued by an Australian State/Territory government authority as specified by the Minister by Gazette Notice for the purposes of Investor and State/Territory sponsored Investor Visa subclasses.

Eligible investment

'Eligible investment' in relation to a person means:

that is owned by the person for the purpose of producing a return by way of income or capital gain and is not held for personal use.

Fiscal year

'Fiscal year' in relation to a business or investment means:

Main business

Owned by the person for the purposes of producing by way of income or capital gain and is NOT held for personal use.

The applicant must maintain, 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 applicant must also have, or have had, an ownership interest in the business and the value of the applicant's ownership interest, or the total value of the ownership interests of the applicant and the applicant's spouse must be either:

The business must be a qualifying business.

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 any 2 of the 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:

Provisional

A provisional visa under the Business Skills category means a temporary 4 year visa.

Qualifying business

The enterprise:

Vocational english

Vocational English in relation to an applicants means: