The Business Owner Visa 890 allows you to set up and operate your own business in Australia, as long as you can meet the requirements. The BV is for an applicant who owns at least half of the business and has control over day-to-day management and operations of the business, similar to the Skilled Independent visa (subclass 189). 

It also allows applicants to work in Australia while applying for their visas. The BV has its own visa subclasses – 885, 886, and 887, with different points thresholds depending on the business you want to run in Australia.

How to get started?

To apply for a business owner visa 890, you must first be invited to apply by either an Australian state or territory government or by an Australian employer. An invitation is usually valid for 12 months, after which time you will need another invitation to make an application.

The easiest way for a new business owner to get started is by contacting their state's department of immigration and citizenship (or equivalent) and asking if they have any vacancies that are likely to turn into sponsorship opportunities.

What are the criteria?

To qualify for a business owner visa, an individual must have met one of three criteria: 

• Starting a new business and employing at least 2 full-time employees in their first year.
• Employ at least 5 full-time employees within two years.
• Expand an existing business within two years and maintain employment of at least 3 full-time staff members. 
• You are also required to show the start-up funding is sufficient to establish the enterprise and provide support during the initial start-up period. 

There are no age restrictions when qualifying for this type of visa as long as you meet all other requirements.

How to Apply for Business owner Visa 890?

Applying for a business owner visa is a long process and involves many different procedures. The first thing you need to do is contact your local Migration Agents Australia to enquire about whether or not you qualify for a business owner visa, as there are strict guidelines surrounding eligibility. 

They will also be able to explain what documents are required, what fees you will have to pay, and give you information about processing times for application forms.

List of Documents required to apply for Business owner Visa 890

Following are some of the documents required for an applicant for a business owner visa:-

1. An application form and receipt from the Immigration office.
2. Original copy of passport, 3 months old.
3. Duly filled and signed copies of Form 1B (applicant), 1C (spouse) or 1D (child), 1E (parent) or 1F (grandparent).
4. A letter from the employer states the reason for the job offer, salary, and duration of employment. As well as evidence that any other family members are being sponsored by the same employer.
5. Proof of sufficient funds for the first year's stay in the United States, such as bank statements.
6. You get a medical examination certificate by completing the health declaration form and attending one of the panel doctor clinics.
7. Your passport must be valid for at least 6 months after entry into Australia.

Processing time

The business owner visa has a 9-month processing time. If your application is approved, you will have to wait 9 months before you can travel to Australia. If you receive an invitation from DIBP for an in-person interview, that could add another 3-4 months to your wait time.